TEMPO.CO, Jakarta – Former Minister of Trade Gita Wirjawan predicts crypto transactions will outpace credit cards in the next two to three years.
“It’s only a matter of time that blockchain It has not only democratized transactions but has popularized the democratization to the younger generation,” said Gita at the Indonesia Knowledge Forum X 2021, Thursday, October 7, 2021.
Gita explained that during this transaction crypto- developed because it empowers blockchain technology. This technology is considered to be able to decentralize and democratize transactions. This is also in line with better transparency and accountability than before.
According to the data he has, the growth of blockchain in the last 15-16 years has reached 120 percent per year. This growth exceeds the internet, which from 1990 to 2020 only grew by around 60 percent.
With a growth of 120 percent per year, he expects the number of blockchain users to reach 1 billion by 2024 or 2025. “This is very explosive,” said Gita.
In terms of digital transactions, Gita sees that the potential will be very large. This is concluded when we look at the value of digital transactions in China, which is twice the Gross Domestic Product, which is around US$ 11 trillion to US$ 12 trillion.
“This is fantastic. We see that in Indonesia digital payments are only 10 percent of GDP. It illustrates the prospect of future growth if we can match those in China,” said Gita Wirjawan. It can also be used by business actors, not only on a large scale, but also on a micro, small and medium scale.
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