Blockchain Zoo Invites Regional Banks to Implement Blockchain in Indonesia

Blockchain Zoo, a blockchain-based IT consultant, invites a number of Regional Banks (BPD) to apply blockchain in company's internal environment. Hopefully, the implementation can start this year.

Pandu Sastrowardoyo, Blockchain Zoo's Chairwoman, said the company has held a training program for regional banking in two cities, Jakarta and Makassar. There are 26 regional banks join the program, due to Blockchain Zoo partnership with Indonesia BlockChain Network (IBN) and Regional Banks Association (Asbanda).

"There are 13 regional banks from the east and 13 from the west we've trained for blockchain," she explained, Thu (2/2).

Blockchain is decentralized in its implementation, there is no need for banking to use server from third party. Data will be safely kept due to multiple encryptions.

Unlike using traditional IT system, there is always a central server placed in one bank. It tightens the competition among banks over the spot as central server holder. Moreover, there are rules forbidding each bank to share substantial files.

"Even without central server, private data will be accessible using blockchain and others will not have access."

As Pandu exemplified, all regional banks will be connected to each other using blockchain, without access to open or even change each others' database.

For example, bank A has detected a customer data fraud. When the customer applying for Bank B, the system will show recorded data fraud from Bank A. Bank cannot change customer's data. Any changes will be recorded, the old database likewise.

"Data will be combined using blockchain, without making one higher than the other and looking at each other's data."

Blockchain can help transparency and efficiency, with data verification is claimed to be much faster. Not only finance, but industries such as academic, hospital, logistics, supply chain and many others can use blockchain.

Lack of talents

Besides pushing blockchain implementation, Blockchain Zoo with IBN community is now actively held training program for local developers expecting to join blockchain. Time estimated for mastering blockchain is three to six months until it's perfectly fit for implementation.

According to Sastrowardoyo, the company's training needs three to six months of study. It becomes Blockchain Zoo's main concern in developing local talents for using momentum, given blockchain is still a new technology in Indonesia, not lots of companies are using it.

"Local developer has potential, but no skill. This is a momentum to be used immediately due to the rise of blockchain's popularity among big companies. If not now, our market will be taken over by foreigners," she said.

– Original article is in Indonesian, translated by Kristin Siagian