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❕NEWS Indonesia reveals plans to launch state owned cryptocurrency

Josemendez

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Following the rate of research into blockchain and cryptocurrency , Indonesia as one of the countries with the highest receipts of migrants remittance amounting to US$10.5 billion , which are being sent home by their citizens abroad .

The country has thus deem it fit to venture into blockchain usage and cryptocurrency precisely ,in order to facilitate easier transaction for citizens
 
Its a good thing when other countries are planning on banning it , the government is doing something good about the use of crypto
 
Its a good thing when other countries are planning on banning it , the government is doing something good about the use of crypto
Yeah . They have seen that it will affected positively especially considering the rate at which their citizens sends money to home from abroad
 
That's a reasonable decision taken by the Indonesian government. That's what i expected from our dear country 'Nigeria to do, since its citizens crypto adoption is second best to the U.S. Instead they went on to ban it. Country without suitable plans for the future.
Am currently wondering why there is still claims that they only restricted banks from venturing into cryptocurrency investment whereas exchange sites have not received go ahead from them
 
they are venturing into crypto currency to save their weaken currency , a lot of country are actually doing so to save their falling economy for going down further
 
That's a reasonable decision taken by the Indonesian government. That's what i expected from our dear country 'Nigeria to do, since its citizens crypto adoption is second best to the U.S. Instead they went on to ban it. Country without suitable plans for the future.
The Indonesia government sees the valuable impact it will have to the economy ,while the Nigeria government don't want to look at the,advantage and they don't know more about the use
 
I think the aim of preventing their weak currencies from depreciating further should be stronger and facilitating their international transactions is also great and will be more beneficial for those migrant in the US considering the value of USD
 
Ignarant is a disease bro, that's why our dear country Nigeria is lacking behind when it concerns to development and employment chances. Our unemployment rate is 75-80%, base on our government aren't making plans to create something engaging for us. Now crypto is around, and avenue to make money online if we are wise. They came and block it again for us, through selfish interest. But i thank God ways to transact and trade crypto is on ground. Like they reopen crypto trade with their naira or not, i believe we've moved on with better alternatives. Since they don't like learning from the elite countries, just as Indonesia did.
Dont mind them , they have forgotten that crypto currency actually helps in generating employment for the youth ,,since the government have blocked other source, they want crime rate to rise
 
I'm not minding them at all. That's why I'm working all day online and offline to make ends meet. Depending on their unreachable employment chances will make me suffer rest of my life.
Despite their ban on trading crypto , i am still trading because that is the means that gives me more money , so i am not living it any time soon , i prefer earning through it
 
Nigerian government and CBN are just making yeast of themselves and not us. They got the mindset of banning Cryptocurrency, not restricting banks from transacting through it. All local exchanges are not responding with withdrawals directly to the local banks. If its something that concerns our Nigerian banks alone, why did it affect our local crypto exchange sites? I'll say its not true. They banned it completely, so we won't be investing into crypto again using their naira.
Well , I won't want to say much because I am also confused with their stand on cryptocurrency . I don't know whether they have banned it or not ,but like you said withdraw to local bank is only feasible through peer to peer
 
Bro don't go break any time soon. It is legit, and not fraudulent. Tell me why our country don't want to support this method of crypto investment. How you made reasonable amount of money since you started crypto trading??
I have made more money from crypto trading , most times i get coins from airdrop and at times i buy the dip of some crypto to make more money when the price rises
 
I have made more money from crypto trading , most times i get coins from airdrop and at times i buy the dip of some crypto to make more money when the price rises
Have you been able to benefit from any airdrop before ? I have tried countless time without benefitting on any of them . I have another one that am hoping to benefit from
 
Nigerian government and CBN are just making yeast of themselves and not us. They got the mindset of banning Cryptocurrency, not restricting banks from transacting through it. All local exchanges are not responding with withdrawals directly to the local banks. If its something that concerns our Nigerian banks alone, why did it affect our local crypto exchange sites? I'll say its not true. They banned it completely, so we won't be investing into crypto again using their naira.
Yes, Indonesia is also using its cryptocurrency.Indonesia has been following in the footsteps of its close neighbor and business partner Singapore, in Exploring the Uses of Blockchain Technology and Cryptocurrencies.there's a good reason too. After all, According to the World Bank Census Report,Indonesia is ranked 14th Across the Global for receipt of migrant remittances,Weight and Estimated US $10.5 Billion sent Home from those Working Abroad.
 
Following the rate of research into blockchain and cryptocurrency , Indonesia as one of the countries with the highest receipts of migrants remittance amounting to US$10.5 billion , which are being sent home by their citizens abroad .

The country has thus deem it fit to venture into blockchain usage and cryptocurrency precisely ,in order to facilitate easier transaction for citizens
This will further boost the economy, and will make the country one of the forerunners of cryptocurrency as a nation. I just hope they don't seek to ignore other cryptocurrencies.
 
This will further boost the economy, and will make the country one of the forerunners of cryptocurrency as a nation. I just hope they don't seek to ignore other cryptocurrencies.
Actually , I doubt that . Infact this will open doors to other cryptocurrency adoption . People will come to invest in top coins like bitcoin .
 
Actually , I doubt that . Infact this will open doors to other cryptocurrency adoption . People will come to invest in top coins like bitcoin .
The reason why I believe it will serve the economy of Indonesia well, is because the people can gain employment this way. At a time when other countries will be considering cryptocurrency because they can't ignore it, say in 5 years, this country will already be far ahead.
 
This is what most countries should do in order to make things easier for the citizens and also create jobs and at time make more revenue. Banning crypto is not a good idea for a country looking to increase its revenue generation during this pandemic.
 

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