Bank Indonesia revealed it took two years to complete the process of the study of digital money, publishing more or less will be completed in 2020. However, the central bank could not guarantee whether the digital money really can be implemented or not.
The head of the Department of payment systems Policy BI Onny Widjanarko explained already doing research since last year via the BI Fintech Office (FTO). Now it is developing a central study of digital currency.
"In the pipeline we will try two years from now. If faster [complete review] was better, the important thing we should be careful how their complexes. Want to learn first from the legal side, wear what technology, not to mention its operational side of what it would be like. It should be examined clearly, "said Onny, Wednesday (31/1).
According to him, what the central bank has been looking at what has been done by the central banks of various countries. However, this step is not because of rampant circulation of virtual currency such as the bitcoin.
Based on the research results obtained while the central bank, the utilization of digital money have plenty of excess. Of whom do not have a high level of volatility, it is more efficient because it does not have to print money, can be stored in a variety of digital platforms, and so on.
When exemplified, to pay the toll, now consumers have to pay with e-money cards published each bank. But in the case of digital money, the Publisher is Bank Indonesia.
"By the power of the law will be the same with print in money because legal tendernya is Bank Indonesia are already guaranteed by Law so that it cannot fail."
So far, he said, there has been no central bank in the world that publishes digital currencies. However, there are some central banks are already doing trials publishing digital money. For example, Canada with project Jasper and Singapore with tiles.
Any current United Kingdom disclosed Onny still doing studies conducted since 2016. Only Ecuador which became the only country to formally publish a digital currency.