The founding members of A-B-I

The Indonesian blockchain association (Asosiasi Blockchain Indonesia, A-B-I) is being launched today in West Jakarta.

The association was being founded by six blockchain companies with operations in Indonesia: Blocktech Indonesia, Blockchain Zoo, INDODAX, Indonesian Blockchain Network, Luno, and PundiX.

With the goal to facilitate the acceleration of blockchain technology adoption in the country, the association is being led by INDODAX CEO Oscar Darmawan as interim chairman.

It is listed as a member of The Indonesian Chamber of Commerce (KADIN Indonesia), and is currently opening an application for membership.

“The greatest challenge faced by blockchain companies operating in Indonesia is the lack of regulatory system that is able to keep up with the speed of the technology’s development and its utilisation. This organisation was formed in order to become a platform for industry players so that they can serve as partners for the regulator and government in figuring out the most beneficial regulation,” Yos Ginting, supervisory board member of A-B-I, explained in a press conference.

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Darmawan also added that among the Indonesian society, there is still a misconception on the difference between cryptocurrency and blockchain, building up an urgency for the association to educate the society.

In Indonesia, several businesses and government institutions have begun to look into blockchain for their business operations.

“The association aims to list industry players who are implementing the technology [in their operations] in Indonesia, so that we can turn it into data that we can offer to the government,” Darmawan said.

In January, according to a Kompas report, Bank Indonesia has announced that it is studying for the implementation of blockchain as a way to improve efficiency in payments system.

The national postal service Pos Indonesia has also begun to implement the use of blockchain by the launch of Digiro.in, a current account service app.