The Biggest Challenge for Blockchain Technology in Indonesia
As we know, blockchain technology has great potential to be utilized in various fields. Starting from the financial sector, to agriculture and welfare. However, although the benefits of this blockchain technology have begun to be realized by various parties, it does not mean that its application is easy and without challenges.
Not only blockchain technology, other technologies also require quite a long time before it can finally be accepted by the wider community. For example cloud technology that used to make the public confused and e-mail technology that was asked for 15 years before finally being widely used as it is now. What are the challenges for blockchain? Let's see.
The perception of Blockchain is Bitcoin
Not a few people who still consider blockchain and bitcoin are one and the same thing. No exception to the general public in Indonesia. This makes blockchain technology difficult to accept and is misunderstood by most countries that reject bitcoin cryptocurrency.
Many Institutions Are Not Ready
Many institutions accept threats if blockchain technology is truly implemented. For example is a banking institution, because as is well known, transactions with blockchain technology do not require a third party, so transaction costs can be cheaper and transactions can be faster.
High Complexity
This high complexity is a challenge if blockchain technology is applied in logistics. The parties involved must establish high trust, ranging from suppliers, processors, distributors, to end consumers. Many parties who have to walk on the same platform is a big challenge.
However, having big challenges does not mean that this technology is applied. Many big companies in the world have proven that blockchain technology has helped their business. For example, Walmart and Carrefour began working with IBM Blockchain to request their data supply chain.
In your opinion, is Indonesia ready to apply technology in various industrial sectors? What is clear, public perception about blockchain technology must be addressed first yes.
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