During a briefing yesterday, Bank Indonesia’s Governor, Perry Warjiyo, said the central bank plans to release a conceptual design for a wholesale central bank digital currency CBDC this year, Bloomberg reported.
In designing the wholesale CBDC, which is restricted to usage by banks, it wants to ensure it is appropriate for cross border payments. The current focus is on the cybersecurity features of a digital rupiah.
It was confirmed a key motivation is to get ahead of the potential adoption of cryptocurrency as a payment method.
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