Oscar Darmawan, Chairman of Indodax, expresses his positive outlook on the new regulations. He sees the official recognition by the government as a significant milestone for the development of the blockchain ecosystem in the country. According to Oscar, this recognition signifies the government’s support for the growth of technology that brings transparency, efficiency, and decentralization to various aspects of life.
He emphasizes that the main strength of blockchain lies not only in cryptocurrency but in building a trust infrastructure that does not rely on central authorities. The regulation opens up opportunities for broader exploration, from transparent distribution of social assistance to accountable food supply chain systems, as stated by Oscar.
Oscar praises the government’s risk-based approach, noting that specific risk classifications help industry players understand their legal position from the outset without getting caught up in lengthy bureaucracy. This, according to Oscar, will reduce entry barriers for local innovators and startups.
He further adds that many young developers were hesitant in the past due to uncertain regulations. With concrete legal footing now in place, they can move forward confidently in their endeavors without the fear of regulatory uncertainty.
