Polkadot-backed Bali Blockchain Summit showcases Indonesia’s digital economy focus

Sponsored by Polkadot and hosted by Mandala Chain, the Bali Blockchain Summit gathered government officials, tech experts, and business leaders to talk strategy for boosting blockchain use, not just in Indonesia but in other emerging markets as well.

 Indonesia is setting its sights on becoming a leader in the digital economy by focusing heavily on blockchain technology. Under its ambitious "Indonesia Golden Vision 2045," the country integrates five key technologies — artificial intelligence, IoT, metaverse, quantum computing, and blockchain — into its economy and everyday life.

Blockchain is set to play a vital role, with its promise of improved transparency, security, and efficiency across both public and private sectors.

Denpasar Mayor Gusti Ngurah Jaya Negara kicked things off, calling blockchain a game-changer for transparency and fairness. "Blockchain will drive Indonesia’s prosperity by enhancing transparency and efficiency for the public good," he said.

Throughout the day, speakers highlighted practical uses for blockchain, from land registry and public health records to product authentication. Mandala Chain also announced plans to integrate its IDCHAIN solution with government agencies to bring over 10 million users on board in collaboration with PANDI, the official ".ID" domain registry.

Mandala Chain is also teaming up with local governments to test decentralized identity systems in banking, healthcare, and smart city projects.

The company, in partnership with Polkadot and KILT Protocol, is working to expand blockchain infrastructure beyond Indonesia with a greater focus on emerging markets. The goal is to use Polkadot's scalable tech and KILT's digital identity solutions to build a framework for these fast-growing regions.

The summit also comes hot on the heels of Polkadot’s release of a detailed guide on funding options available for projects and individuals at various stages of development. The guide includes venture capital, ecosystem-wide grants, specialized development grants, community-driven funding initiatives, project-specific grants, and bounties.

The guide also outlines opportunities ranging from small grants to multi-million dollar funds, focusing on areas such as DeFi, gaming, and infrastructure.

Source: Investing.com