Blockchain can accelerate financial inclusion – Mon, September 20 2021 – Jakarta Post


Paul Brisk (The Jakarta Post)


Jakarta   ●   Mon, September 20 2021

Most people have heard of Bitcoin, a digital currency that can be owned, stored, or transferred to others, all without the involvement of a bank or central authority.

There is no Federal Reserve, or the equivalent of a Bank Indonesia, that controls or regulates Bitcoin. There is no central payment company like PayPal or GoPay that owns, promotes, or operates Bitcoin.

Instead, Bitcoin is like digital gold. It can be “mined” just like gold. Once you have Bitcoin you can hoard it away and nobody can take it from you as long as you keep your digital wallet secure.

The idea for Bitcoin was released to the world through a now famous white paper reputedly authored by Satoshi Nakamoto in October 2008. In this paper, Nakamoto defined an electronic currency system that allowed instant payments between two or more parties connected through the internet w…

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About the Author: Kate