Towards Web3 Services for the Indonesian Digital Economy

For many emerging digital economies in the world, the decentralization of digital services offers a way to incentivize the development and operations of the Web3 infrastructures for these services by the private sector while avoiding the concentration of power in the hands of a few. Indonesia, as one of the fastest-growing economies in the global south, can benefit from utilizing Web3 infrastructures as a form of the Digital Public Infrastructure (DPI) concept. Key to implementing the DPI is the standardization of open protocols and APIs in the architecture, enabling various market players to develop basic services with a high degree of interoperability. The tokenization of real-world assets built on decentralized Web3 infrastructures could be a promising new sub-sector of Indonesia's economy, enabling local communities to actively participate in the coding, development, and running of the nodes that constitute these new Web3 infrastructures.