Indonesia is steadily progressing towards recognition as a global leader in Web3 innovation, driven by high levels of crypto adoption, tech-savvy young population, and supportive regulatory environment.
Revolution in Numbers
Indonesia ranks third in the Chainalysis Global Crypto Adoption Index. Between 2023 and 2024, the country shows considerable growth in the crypto sector, with inflows amounting to $157 billion and top positions in Central and Southern Asia and Oceania. Reorganization of crypto regulation adds transparency to the industry.
Beyond 8%
For many Indonesians, cryptocurrency serves as a store of value and a means for cross-border payments. The younger population is actively engaging with the crypto economy, despite less than 8% usage overall. Developing solutions aligned with cultural and religious values may attract the remaining 92%.
Shariah-Compliant Solutions and Education
In Indonesia, where 87% of the population adheres to Islam, there is a demand for financial products that comply with Islamic principles, such as decentralized finance platforms for Islamic banking. Educational initiatives and partnerships with local banks can foster the cryptographic environment in the country.
Ethics-first solutions tailored to Indonesian needs can promote the spread of the digital economy and maintain leading positions globally. The Web3 revolution, led by Indonesia, exemplifies how increased demand can drive significant changes under favorable regulation.
