{"id":2292,"date":"2022-12-07T00:43:28","date_gmt":"2022-12-07T00:43:28","guid":{"rendered":"https:\/\/nftmetta.com\/?p=2292"},"modified":"2022-12-07T00:43:29","modified_gmt":"2022-12-07T00:43:29","slug":"indonesias-central-bank-says-digital-rupiah-currency-can-be-used-in-the-metaverse","status":"publish","type":"post","link":"https:\/\/nftmetta.com\/indonesias-central-bank-says-digital-rupiah-currency-can-be-used-in-the-metaverse\/","title":{"rendered":"Indonesia’s central bank says digital rupiah currency can be used in the metaverse"},"content":{"rendered":"\n

December 7, 2022<\/p>\n\n\n\n

By Anjali Kochhar<\/p>\n\n\n\n

Indonesia’s central bank (BI) governor Perry Warjiyo said on Monday its planned digital rupiah currency can be used in the future to buy products in the metaverse.<\/p>\n\n\n\n

BI launched the design for its digital rupiah last week, following many central banks around the world that are developing so-called central bank digital currencies (CBDCs).<\/p>\n\n\n\n

CBDC is generally defined as a digital liability of a central bank that is widely available to the general public.<\/p>\n\n\n\n

Perry, speaking at an event on the digital rupiah, added the currency will use a technology platform that will be compatible with other central banks’ digital currencies.<\/p>\n\n\n\n

“…therefore in terms of infrastructure, it can be integrated, interconnected, and interoperable [with other CBDCs],” he said, according to a Reuters report<\/u><\/a>.<\/p>\n\n\n\n

Warjiyo said there will be an agreement among central banks on the exchange rate used for digital currencies and on its operational supervision, which includes cyber risk and capital flow.<\/p>\n\n\n\n

It should be noted that Southeast Asia’s biggest economy currently bans the use of cryptocurrencies as a means of payment but allows transactions of digital assets in the commodity futures market for investment purposes.<\/p>\n\n\n\n

BI will roll out the digital rupiah in stages, starting from wholesale CBDC to the development of the digital rupiah’s business model for monetary operations and money market, and eventually a retail CBDC for everyday use.<\/p>\n\n\n\n

About the author<\/strong><\/strong><\/p>\n\n\n\n

Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.<\/p>\n","protected":false},"excerpt":{"rendered":"

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