BALI– On 6 – 7 May 2022, The Renaissance Bali Uluwatu became the stage for the largest crypto conference in Indonesia, EVERPOINT. The largest crypto conference in Indonesia, which has been held since the Covid-19 pandemic era, was held to commemorate the 2nd anniversary of the birth of the Everscale blockchain.
This event marks a significant stage for Bali and especially Indonesia as this event is the largest international crypto event held since the Covid-19 pandemic era took place.
In the last two years, Indonesia has made very rapid progress in the crypto industry. This is marked by the development of infrastructure and an adequate environment as well as the presence of a legal umbrella that is a solution for future blockchain projects.
In addition, Indonesia has now become an attractive location for technology developers and cryptocurrency entrepreneurs from around the world. Currently, there are 18 crypto foreign currencies that have officially entered and operated in Indonesia and there are several crypto funding instruments that are in the process of being present in Indonesia.
The crypto conference was attended by industry leaders from around the world, and also attended by crypto industry leaders in the Southeast Asian market, including: Aditya Uozumi (Founder of Masamune.io), Andry Suhaili (CEO of x0swap.com), Henri Morgan Napitupulu ( Founder of IndoCoin Nusantara trust Ltd), Irvan Tisnabudi (Founder of Coinstore.com), Fadzli Shah Bin Anuar (Founder of MX Global), Kevin R Smith (CEO of Pi Union Capital), David Pulis (CEO of ZBX.com exchange), Sergey Dzhurinsky (Co -founder of WARP Capital), Zehan Teoh (Senior Vice President of Qatar Insurance Group), Pavle Batuta (CTO of Moonstruck), Alexey Antonov (Director of Algalon Capital), Young Sik Kim (CBDQ Xangle Bo), Vladimir Maslyakov (Founder of Minergate), Kristina Lucrezia (Cointelegraph Chief Editor), and Vasily Smekalov (Everfund.gp).
Recently, issues surrounding the future of blockchain and cryptocurrencies have become a popular topic in the discussion of economic development in Indonesia. One of the main problems with cryptocurrencies that occurs around the world is the changing regulations and legal umbrellas in some countries. Indonesia is currently starting to develop itself into a "paradise" or a safe place for the crypto industry.
From a regulatory perspective or legal umbrella, there are 2 factors that are the main focus at this time: the first is the regulation surrounding the creation of digital assets, and the second is the regulation of digital asset exchange.
Currently, regulations for digital asset producers are relatively not well developed, so anyone who has the desire and sufficient resources can create their own assets. What is helping now is the desire shown by the government to cooperate with projects like this, namely registration with the Ministry of Trade and Finance, as well as registration of licenses with the Financial Services Authority (OJK).
For crypto exchanges that facilitate digital asset trading, the regulations are now quite well developed. In order to operate within a country, crypto trading must have a permit and license from the local ministry or authority.
The development of good regulations in Indonesia helps investors who want to invest their digital assets more easily and safely, thus making Indonesia an attractive environment and place to start new projects.
That is a good reason to see blockchain technology change and develop not only as a financial instrument and driver in the gaming industry, but also to be integrated into the real estate and land management industries, agriculture, transportation, e-commerce, and other sectors.
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