BI Boss Discloses Digital Rupiah Progress, When to Launch?

BI boss reveals digital rupiah progress, when will it launch?

"We are still selecting the largest banking sellers and through this stage we will then
distribute digital rupiah and provide licenses to the largest businesses to enter the retail
era either with open accounts or with other digital assets," he said.
The Digital Rupiah or Central Bank Digital Currency (CBDC) program in Indonesia has
been initiated since 2021. Perry once explained the difference between Digital Rupiah
and other transaction tools.
Perry said the function of Digital Rupiah will be the same as the money that has been
circulating, namely as a means of payment. It's just that as the name implies, Digital
Rupiah is digital while physical currency.
"Digital rupiah is in principle the same as this means of payment (banknotes), the same.
The difference is that this one is in the form of banknotes, which are digital," Perry said
at the BIRAMA event: Paving the Way to Digital Rupiah at the BI Building, Central
Jakarta, Monday (5/12/2022).
Digital Rupiah will also contain features found on paper rupiah such as images of
heroes, art, natural resources, and hero figures. According to Perry, everything is
packaged in the form of an encrypted code.
"The features that are here, Bung Karno, Bung Hatta are also in Digital Rupiah. The
difference is that in Digital Rupiah, everything is encrypted in digital coding," he
explained.
There are at least three functions of Digital Rupiah. The first is as a legal tender or
medium of exchange, second as a unit of account and third as a store of value.

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