Bank Indonesia to Issue Digital Rupiah

The digital rupiah will be trialled this year in an effort to help make the payment system more efficient
29 January 2018   301

Despite Bank Indonesia (BI) prohibiting the use of cryptocurrency as a payment instrument, the central bank is considering issuing digital rupiah. Assistant to BI executive director for payment systems Susiato Dewi said the digital rupiah will be trialled this year in an effort to help make the payment system more efficient.

The physical banknotes we currently use may be converted into digital money. However, no country has released such money yet.


Susiato Dewi

Executive director for payment systems, Bank Indonesia

She said that the digital currencies issued by BI and other central banks will be different from current cryptocurrencies because digital money will be based on the certain values of assets.

She also added that the amount of the digital money will be based on the current currency system, and will take into account the inflation rate.

Previously, BI Governor Agus Wartowardojo said that using Bitcoin as a payment and transaction instrument violated Law No. 7/2011 on currency, which defines the rupiah as the only official transaction and payment instrument in the country.

HTMLCoin swap process comes to an end

On March 27 HTMLCoin finalizes the swap procedure of old HTML5Coin into HTMLCoin at a rate 3:1 and thus the migration to a new blockchain will be officially completed
21 March 2018   30

In full accordance with the swap schedule, March 27 marks the end of the swap procedure of the old HTML5Coin token into new HTMLCoin token. This final stage of the swap that lasted roughly 14 days is considered to be late stage and thus the rate is 3 (old) : 1 (new).

A special web form was prepared so that the users could fill it out and perform the swat themselves (therefore it was called 'Self-swap service'). The users can use this form for both the HTML5Coin wallet addresses and YoBIT exchange withdrawal code called 'Yobit code'. The HTMLCoin team warns that sometimes the YoBIT exchange withdrawal function may not work and recommends repeating the procedure later or contact HTMLCoin support for help with the withdrawal.

The actual swap are going to be handled on Saturday, March 31. The official end date of the swap procedure is set on March 28. This swap is due to the migration of HTMLCoin to a new blockchain with new features for freelancers and segregated minorities (e-learning programs, job hunting and connections, freelance mobile app). These rich features all aim to empower freelancers and vulnerable communities to new bold opportunities, learn new skills and apply them immediately. Freelancers-Business platform is set to connect companies and freelancers to help adopt these innovative concept.

As of the moment of publication, the HTMLCoin market indicators are as follows:

Average price: $0.000541

Market cap: $35,579,234

Volume (24h): $70,079