BI PUBLISHES COLLECTION OF PUBLIC INPUTS ON DIGITAL RUPIAH

DEVELOPMENT
Bank Indonesia (BI) launched a Public Consultation Report which is a collection of all
public inputs on the Digital Rupiah Development concept contained in the Rupiah Digital
Phase I Consultative Paper (CP). BI expresses its appreciation for the views of the
public that have been received in the period of receiving input which was opened on
January 31, 2023 to July 15, 2023. There were 42 (forty-two) comments and inputs
sourced from banks and non-financial institutions, associations, ministries/agencies,
academics, and individuals/general public. This Public Consultation Report is an
important part of the "Garuda Project" initiative as an overarching project for the
exploration of Digital Rupiah. The publication of the report is a form of BI's transparency
and accountability in the development of the Digital Rupiah design.
After receiving public inputs, the development of Digital Rupiah will enter a number of
next stages, namely; i) Technology Experimentation (proof of concept); ii) Prototyping;
iii) Piloting/sandboxing; and iv) Review of the policy stance, as designed in the high
level design of the Rupiah Digital White Paper. The Digital Rupiah Development
Experimentation is an iterative process to allow for a broader exploration of various
design alternatives and to ensure the most optimal added value for Indonesia.
The structure of the Public Consultation Report is divided into six categories that serve
as the basis for deepening the functionality and general considerations, as well as the
reinforcing elements for the Digital Rupiah Development. The six categories are:
Technology: Highlights aspects of scalability and resilience.
Access: Covers membership procedures, data access procedures, and wallet
management.
Issuance and Destruction: Related to the process of issuance and destruction of Digital
Rupiah.
Fund Transfer: Covers key functions in fund transfer, gridlock resolution, and
settlement finality.
Technical capabilities and 3i aspects: Involves interconnection, interoperability, and
integration.
Implications: Related to the impact of digital Rupiah currency on Payment System,
Financial System Stability, and Monetary.
https://www.bi.go.id/id/publikasi/ruang-media/news-release/Pages/sp_2534623.aspx