Proceedings of the International Conference for Democracy and National Resilience 2022 (ICDNR 2022)

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The Role of Blockchain in Strengthening Indonesia’s Economic Stability

Authors
Pujiyono Pujiyono1, *, Moch Najib Imanullah1, Hernawan Hadi1, Sendari Waskita1
1Department of Law Science, Faculty of Law, Universitas Sebelas Maret, Surakarta, Indonesia
*Corresponding author. Email: pujifhuns@staff.uns.ac.id
Corresponding Author
Pujiyono Pujiyono
Available Online 16 December 2022.
DOI
10.2991/978-2-494069-75-6_25How to use a DOI?
Keywords
blockchain; regulation; anti-money laundering
Abstract

The development of technology introduces people to the topic of the Internet of Things (IoT), artificial intelligence (AI), big data, and the blockchain. The blockchain became popular in 2009 and growing rapidly because the use of the Blockchain tends to be profitable in the business and government systems. This study aims to identify and analyze regulations regarding blockchain in Indonesia. This study compares blockchain regulation in Indonesia with countries in the Americas, Europe, and Asia. Based on regulatory comparisons with several countries, blockchain regulation in Indonesia is still weak. The blockchain, which stores several smart contracts, needs to be further regulated in the legislation. The use of blockchain that knows no boundaries of time and territory is the government's task in making several regulations, including regulations regarding taxation, protection of personal data, and prevention of money laundering and terrorist financing. One way that can be done is to fulfill the recommendations from the FATF which has previously regulated how blockchain works. In addition to the government, the active role of the community, especially crypto asset trading actors is needed to build a healthy ecosystem and bring prosperity to society and the country.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the International Conference for Democracy and National Resilience 2022 (ICDNR 2022)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
16 December 2022
ISBN
10.2991/978-2-494069-75-6_25
ISSN
2352-5398
DOI
10.2991/978-2-494069-75-6_25How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Pujiyono Pujiyono
AU  - Moch Najib Imanullah
AU  - Hernawan Hadi
AU  - Sendari Waskita
PY  - 2022
DA  - 2022/12/16
TI  - The Role of Blockchain in Strengthening Indonesia’s Economic Stability
BT  - Proceedings of the International Conference for Democracy and National Resilience 2022 (ICDNR 2022)
PB  - Atlantis Press
SP  - 198
EP  - 207
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-494069-75-6_25
DO  - 10.2991/978-2-494069-75-6_25
ID  - Pujiyono2022
ER  -