[NEWS INFO]The Effect of Cryptocurrencies on the Indonesian Economy

https://www.jaringanprima.co.id/id/pro-kontra-cryptocurrency

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BERNASNEW.COM — Today cryptocurrency has become a global phenomenon that most people are familiar with. However, most people, banks, governments and many other companies are still not aware of the importance of cryptocurrencies. Most people, including bankers, consultants, academics, and developers, have very limited knowledge of cryptocurrencies. They usually don't understand the basics. Few people know about it, but cryptocurrency emerged as a by-product of another invention. Satoshi Nakamoto, the unknown inventor of Bitcoin, the first cryptocurrency and never intended to create a currency.

In a statement about Bitcoin in late 2008, Satoshi Nakamoto said that he developed a 'Peer-to-Peer electronic money system'. The goal is to create something, many people fail to make digital money. Announcing the first release of Bitcoin, a new electronic money system that uses a peer-to-peer network to prevent double spending. It is completely decentralized with no central server or authority.

The level of development of cryptocurrencies from year to year is considered very significant. The development of the most valuable cryptocurrency today, namely Bitcoin, is not only widespread overseas, but will also increase dramatically in Indonesia. Currently, most cryptocurrency users in Indonesia use their currency for investment purposes, transactions or payments, and remittances. However, in addition to the increasing interest of the Indonesian people in Bitcoin investment, there are several obstacles that have the potential to reduce public interest in cryptocurrencies.

One of the biggest obstacles related to the development of cryptocurrencies in Indonesia is Bank Indonesia which does not recognize or even prohibits all Bitcoin transactions because Bitcoin is not a legal tender in Indonesia. It can be seen from the official understanding of the Indonesian government regarding currency according to Article 1 Paragraph 1 of Law no. 7 of 2011 which states that, "Currency is money issued by the Unitary State of the Republic of Indonesia, hereinafter referred to as Rupiah".

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NEWS TAKEN FROM THE WEBSITE :
https://bernasnews.com/pengaruh-mata-uang-kripto-pada-perekonomian-indonesia/