Getting to Know Cryptocurreny and How It Affects The Economy State of Indonesia

It is a worldwide fact that the world is changing rapidly over the years. Technology has changed human thinking, and how we trade with one another. And right now, the trading world is moving towards virtual currencies, one of them are cryptocurrency, with bitcoin as the all-father of crypto.

From the year 2020 and 2021 Indonesian rapidly use this crypto system as their way to build finance and trade. Resulting in the positive growth of economics, because crypto system implements 3 basic concepts of economic health, which is transaction, investation, and trading mines.

But what will this do to our nation in the long run? Are cryptocurrency is the new trading ways? Will it always impact positive results in our economy or does it have any threats?

According to Kompas, the Vice minister of trading, Jerry Sambuaga stated that crypto will largely affects our nation with these 3 aspects.

First, the digital trading products. Jerry claimed that cryptocurrency in Indonesia are digital assets. According to him, the concept of blockchain that crypto used will affects a large number of sectors, and the economy in the macro level.

Second, crypto will form a new mechanism of trading, like online tradings on large platforms. By using blockchains on the internet as a way to transfer currencies, we are no longer in need to have physical contact between a buyer and a seller. The process of transactions are being made in the internet.

Thirdly, crypto has build more ways for tradings to be done in new ways or patterns. Corporates are rapidly building new platforms online to build digital tradings.

“we have to maximilized ourself on creating new digital products, whether it’s from the new transactional systems or from the old ways of trading, we have to find ways for them to be used by technologies. For if we succeed, then the trading sectors will contribute positively in our economy state and help us compete in an international level” stated by Jerry.