The Bank Indonesia has declared its plans to conduct trials of a digital rupiah until the end of 2024. The central bank will collaborate with blockchain companies and commercial banks for this initiative.
One of the main focuses of the trials will be verifying interbank transactions using blockchain technology. Governor Perry Warjiyo emphasized the need to establish the necessary infrastructure to enable the use of the digital rupiah as a means of payment for goods and services.
The central bank aims to fully digitize the financial system by implementing different stages of the Central Bank Digital Currency (CBDC) project.
Furthermore, the Indonesian government intends for the digital rupiah to serve as both a payment instrument and a means of preserving capital.
