BI Governor Discloses Digital Rupiah Progress

KONTAN.CO.ID - JAKARTA. Governor of Bank Indonesia (BI) Perry Warjoyo revealed

the progress of the implementation of the central bank digital currency (CBDC).Perry
said, currently his party is still in the stage of choosing the technology that will be used
for the implementation of Digital Rupiah.
"We are finalizing the proof of concept for the first phase of Rupiah Digital. We are still
choosing the technology that will be used," Perry said at the Mandiri Investment Forum
2024 event, Tuesday (5/3).
For the first stage, Perry said, his party would issue Digital Rupiah for retail as cash
circulation. However, Perry did not mention when Rupiah Digital will be launched.
"We are still choosing the largest wholesale banks. Through this stage we will then
distribute Rupiah Digital and provide licenses to the largest businesses to enter the
retail era either with open accounts or with other digital assets," he said.BI Governor
Discloses Digital Rupiah Progress.
Previously reported, BI Deputy Governor Juda Agung said that currently the piloting of
Digital Rupiah continues to be carried out on the internal side. In addition, the progress
of digital rupiah is also still in the conceptual design or proof of concept stage.
"Now at BI it is in the process of conceptual design, proof of concept, using simulations
from the internal side at BI," said Juda in Economic Outlook 2024, Thursday (29/2).
Juda confirmed that the implementation of CBDC or digital rupiah has not been
implemented this year.
"(2024 will be launched?) I don't think so, we are still piloting," he said.
The digital rupiah will later replace fiat money, paper and metal money. However, the
replacement of fiat to digital rupiah will be done gradually.

https://nasional.kontan.co.id/news/gubernur-bi-beberkan-progres-rupiah-digital