Governor Ridwan Kamil And Samson Mow Describe The Future Of Bitcoin In Indonesia At Bitcoin 2023
The Governor of Indonesia’s West Java Province, Ridwan Kamel and prominent global advocate for Bitcoin and CEO of JAN3 Samson Mow, revealed in a talk titled “The Indonesia Bitcoin Mining Campaign” that the government of Indonesia is looking at various ways Bitcoin adoption in the country can benefit its people.
Explaining the specific environment that makes Indonesia a potential major player in bitcoin mining, Governor Kamel said, “(Indonesia has) the second largest geothermal potential in the world – more than 800 rivers with hydropower. Because bitcoin allows energy to be converted into money, it can Bitcoin to be transformative for Indonesia.”
He also explained that the country is already on a steady path towards adoption, with more than 12 million cryptocurrency investors, 70% of whom are invested in bitcoin. According to Governor Kamel, this number is growing by half a million a year.
In addition, the governor touched on how bitcoin is bringing fintech to people in his country who don’t currently have access to it. “Bitcoin is a solution, in my opinion, to unbankable parts of my community,” he explained. “40% of my people can’t deal with banks.”
Another topic touched on was the recent introduction of the Omnibus bill allowing 100% foreign investment in renewable energy projects over 1 megawatt. This law may lead to increased investment and interest in the region. “Come to Indonesia, let’s have this large reserve of renewable energy dedicated to the bitcoin mining business,” Governor Kamil said.
Mow touched on the opportunity for Indonesia, saying that “the first countries to adopt bitcoin in a meaningful way will have a huge advantage.” Then, Governor Kamel inquired about how El Salvador’s bitcoin fiat works. Mao replied that “bonds could finance the construction of new energy infrastructure… Indonesia could have volcanic bonds as well.”
Overall, the conversation indicated that Governor Kamel is cautiously optimistic, and that he sees bitcoin as a potential game-changer for his country’s economy and the livelihood of his people. As a country with access to large amounts of renewable energy and large portions of the population unbanked, it seems ripe for bitcoin adoption.
Governor Kamel concluded his speech by saying, “The new generation buys Bitcoin as a reserve.” “We hope Indonesia will be a bitcoin paradise in the future.”
