Skip to main content

Beyond cryptocurrency trading, Indonesia is embracing blockchain projects

 

As of July 2021, 7.4 million Indonesians had purchased or sold cryptocurrency. Startups are increasingly turning to a variety of blockchain-based platforms to meet their specific requirements. Charity, agribusiness, gaming, and tech-enabled healthcare are just a few of the industries where initiatives are being explored. BeKind is a new company that uses the blockchain to organize charitable organizations. K1ND, a coin developed on the Binance Smart Chain, was launched by the firm. As with interest-bearing savings accounts, donors can earn BeKind Hub tokens by placing them at risk.

In Indonesia, BeKind is the country's first blockchain-based contribution platform. As a result of their tokens being staked, donors, charities, and non-profit organizations are paid interest. Tokyo Crypto hopes to launch and list BeKind tokens officially in December. Currently, it is selling its tokens for USD 0.17 per token through private sale channels.

Food and agriculture data sharing service Hara uses the blockchain to store and share farm data. The company's creators believe that accurate crop data can benefit agricultural businesses. As a result of remote sensing, Hara was launched in 2015 to apply "precise farming." Farmer loyalty points can be traded for discounts on agricultural products or cell phone credit by Hara, which incentivizes farmers to contribute information. Through a utility token called HART, the network can also make a profit by selling the acquired data to private firms, government organizations, and financial institutions. Hara is developing an NFT platform that will be introduced in the first quarter of 2015, however, Sirait did not give any information about the project. There are further use cases for the blockchain technology the company is developing to assist local governments in addressing agriculture-related issues.

US interest in NFT technologies and NTF marketplaces is only matched by Indonesian interest. As of September, TokoMall, Tokocrypto's NFT marketplace, was live. One month after its introduction, the portal has 1,403 sellers and 1,391 artworks. Digital art cards, comics, and games are all available on Paras, a non-fee marketplace for digital valuables. A total of $5 million in seed money has just been raised by Paras from a variety of investors. With the money, they plan on creating more crypto-based intellectual property in the gaming and comics industries.

Comments

Popular posts from this blog

To boost trade, Africa is simplifying international payment systems

It's hard to transfer money between African countries. The Ghanaian king settled a bill with a Nigerian attorney. His experience highlights a systemic problem impeding Africa's economic growth: high transaction costs and inconvenience. 15% of all imports and exports occur between 55 African countries. 60% of Asian trade is within Asia. 70% in EU. The difficulty of international payments hinders African trade. There are also high tariffs, long border procedures, and congested roads. Proponents of AfCFTA say easing trade restrictions will boost trade, FDI, and economic growth. 50 million people will be lifted out of extreme poverty by 2035 due to the accord's positive impact on real income, which is projected to rise 9.1%.  Another issue: In Africa, currency values fluctuate. From July 2021 to 2022, Ghana's currency fell from 6 to 8. Volatile currencies make financial transactions more costly and risky. To overcome these problems, PAPSS facilitates financial transactions ...

This summer, the Fed will take another step toward creating a digital money

  This summer, the Federal Reserve will publish a research paper that examines the possibility of a central bank digital currency. Multiple countries' initiatives in the central bank digital currency arena, most notably China's, have heightened debate about how aggressively the Fed should act. The Federal Reserve is pushing ahead with its plans to create its own digital currency, stating that a study paper will be released this summer that will go deeper into the topic. Despite the fact that the central bank did not announce any particular plans for the currency, Chairman Jerome Powell acknowledged advancements in payments technology and stated that the Fed has been "actively monitoring and responding" to those developments. In the statement, The proper operation of our economy requires that consumers have faith and confidence not only in the dollar, but also in the payment networks, banks, and other payment service providers that allow money to flow on a regular basi...

How will Blockchain boost trade in Africa?

Despite a regional economic slowdown in 2020, over a dozen African countries grew last year. Complicated trade rules and lengthy border processes stifle African economies. These long-standing issues need creative solutions. Blockchain is becoming more practical and scalable in developing markets. It has just opened a regulatory "sandbox" for innovative blockchain-based goods in Ghana. Standard Bank has joined Marco Polo, a trade financing network. Here are four ways blockchain may help African trade: 1. Customs The AU-EU trade deal is still in its infancy. Traditional customs bureaucracy prevents SMEs from joining global trade networks. This procedure can be automated and simplified, saving time and money. 2. Traceability Tracking cross-border goods correctly is critical for standard and certification verification. Already, blockchain is allowing ethical supply chains for a variety of African goods. Its open-source but secure design makes certificates easy to issue and verify...