Governor Ridwan Kamil and Samson Mo Describe the Future of Bitcoin in Indonesia at Bitcoin 2023

The governor of the Indonesian province of West Java, Ridwan Kamil, and prominent bitcoin global advocate and CEO of JAN3, Samson Mow, revealed in a fireside chat titled “Indonesia Bitcoin Mining Campaign” that the Indonesian government is researching various ways in which bitcoin can be mined. is being adopted. The country can benefit its people.

Governor Kamil explained the specific environment that makes Indonesia a potentially major player in the bitcoin mining space, “(Indonesia has) the second highest geothermal potential in the world – over 800 rivers with hydropower. As bitcoin Allows energy to be converted into money, bitcoin could be transformative for Indonesia”

He also pointed out that the country is already on a steady path towards adoption, with over 12 million cryptocurrency investors, 70% of whom are invested in bitcoin. According to Governor Kamil, this number increases by half a million a year.

In addition, the governor explained how bitcoin could bring the financial technology to those in his country who currently do not have access to it. “Bitcoin in my view is a solution for the unbanked parts of my society,” he explained. “40% of my people are unbankable.”

Another topic that received attention was the recent introduction of the omnibus bill that allows 100% foreign investment in renewable energy projects above 1 MW. This bill could increase investment and attention in the sector. Governor Kamil said, “Come to Indonesia, there is this huge reservoir of renewable energy dedicated to the bitcoin mining business.”

Mo touched on the opportunity for Indonesia, saying that “the first[country]to adopt bitcoin in a meaningful way will stand to benefit greatly.” Later, Governor Kamil inquired about how El Salvador’s bitcoin bond would function. Mo replied that “the bonds could finance the construction of new energy infrastructure… volcanoes in Indonesia could also be bonded.”

Overall, the talk indicated that Governor Kamil is cautiously optimistic, and that he sees bitcoin as a potential game-changer for his country’s economy and the livelihoods of its people. As a country with access to large amounts of renewable energy and a large portion of the population, it appears to be on the cusp of bitcoin adoption.

“The new generation is buying bitcoin as a reserve,” concluded Governor Kamil. “Hopefully, Indonesia will be a bitcoin haven in the future.”