THE URGENCY OF BLOCKCHAIN REGULATION FOR BANKING INDUSTRY IN INDONESIA BASED ON THE COST AND BENEFIT ANALYSIS OF THE NATIONAL DEVELOPMENT PLANNING BODY

Abstract

Indonesia launched online-pajak.com which used blockchain as the technology in April 2018 and in August 2018 HARA launched Indonesian Blockchain Hub as the place to influenced people to use blockchain in Indonesia. With the several launched of blockchain, there is an issue regarding the regulation of blockchain. The regulation in Indonesia is only stating the word blockchain in the elucidation which means it is only the supporting explanation of Article. Therefore, there is an urgency of blockchain regulation in Indonesia which can be seen through the Cost and Benefit Analysis which issued by Indonesian National Development Planning Body.