Article: Tokocrypto Launches Toko Token (TKO), a CeFi-DeFi hybrid and Indonesia’s first virtual currency project

Money, Open Governance

Tokocrypto Launches Toko Token (TKO), a CeFi-DeFi hybrid and Indonesia’s first virtual currency project

On, April 7, 2021, Binance Smart Chain (BSC) officially began trading their signature self-built “Toko Token” (TKO), Indonesia’s first local virtual currency project on Binance Launchpad, the largest virtual currency launchpad worldwide, according to Tokocrypto.

The currency was launched with $0.1 per coin with a total supply of 500 million shares and enables high-speed transactions at low fees. TKO recorded an oversubscription of 201,406 individuals with a total of 10,502,201 BNB at the launch date.

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Article: What is Open Finance and how can it help Indonesia’s unbanked?

Money, Open Governance, Open Source

What is Open Finance and how can it help Indonesia’s unbanked?

Open Finance democratizes access to financial services, benefitting both consumers and fintech companies in markers such as Indonesia. One hundred and thirty million. That is the number of adults within Indonesia who do not use traditional bank accounts to access financial services such as loans and credit cards. Instead, they utilize fintech services such as digital wallets and peer-to-peer (P2P) lending to fulfil their financial needs.

With over 360 registered fintech companies within Indonesia, the growth of the industry is well documented. However, the financial data of their customers is often stored in silos and not exchanged. This creates a significant problem for both companies and consumers, as the former lack the necessary information to confidently offer loans and other financial products for the latter. As consumers are unable to access the right financial products to help improve their financial wellbeing, a financial divide is created.

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Article: How open data can help countries address climate emergency impacts

Open Data, Open Governance, Standards

How open data can help countries address climate emergency impacts

In the aftermath of the 6.5 magnitude earthquake in Aceh, Indonesia, in 2016, disaster managers were able to able to identify which communities were at greatest risk due to rapid access to data. They used the open source InaSAFE platform to access real-time hazard data and modeled population data mapped down to the village level.

This was made possible by the collaborative use of “open” data — data that is free to use, open license and in machine-readable formats — between scientists, local and national governments and communities. By using open data, disaster managers were able to develop 20 disaster contingency plans with communities.

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Article: In 70% underbanked Southeast Asia, startups push for open finance

Money, Open Governance

In 70% underbanked Southeast Asia, startups push for open finance

Brankas, Brick, and Finantier are trying to replicate the Western open banking methods in a fragmented region, with countries like Indonesia and the Philippines, where bank branches are far apart. While big banks are pushing back, investors see promise in these startups.

The startups are building APIs—the plumbing that allows apps to access consumers’ banking and other financial data in a secure way.

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Article: Financial API provider Brick is building the infrastructure for open banking in Southeast Asia

API, Money, Open Governance, Open Infrastructure

Financial API provider Brick is building the infrastructure for open banking in Southeast Asia

The adoption of financial apps is surging in Southeast Asian markets like Indonesia, the region’s most populous country. Founded by fintech veterans last year, Brick develops APIs that make it easier for tech companies to add identity verification and access financial data from their users. It is currently partnered with Indonesia’s seven largest banks, covering more than 90% of the country’s bank accounts, and plans to expand into all Southeast Asia countries.

More than three-fourths of Southeast Asia’s population is unbanked or underbanked, meaning they don’t have a bank account or access to traditional lending services. Brick will serve them as well, with products like mobile wallet and telcos APIs that are currently in beta and slated for launch next quarter.

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Article: The importance of open government data for the private sector and NGOs in Indonesia

Open Governance, Politics, Standards

The importance of open government data for the private sector and NGOs in Indonesia

Open government data (OGD) is making data available free to all by the government with the aim of ensuring accountability and transparency in government besides generating public value by its usage. OGD is an emerging government initiative in Indonesia and there is potential for harnessing OGD for spearheading innovation and improvising services in different economic sectors. This paper aims to investigate the usage of OGD in the private sector and non-governmental organizations (NGOs) in Indonesia.

Documentary analysis was conducted to review the national OGD portal of Indonesia. Structured interviews were conducted with 49 senior management representatives from the private sector and NGOs to solicit their perspectives regarding the usage of OGD for professional purposes. Also, questions were posed regarding the challenges in harnessing OGD for professional purposes.

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