Ridwan Kamil, Governor of West Java Principle Government of Indonesia, and Samson Mow, CEO of Jan3, talk about nation-state adoption at the 2023 Bitcoin Conference in Miami. Indonesia is exploring transformative opportunities in Bitcoin mining and leveraging geothermal & hydropower potential with the aim to transform renewable energy into economic energy.
Indonesia is home to almost 300 million people, ranked 16 in G20, and experiences annual growth of at least 5% per annum, which if sustained could catapult the island nation to the fourth largest in the world in years to come. Furthermore, Indonesia is currently ranked 7th in global bitcoin adoption metrics. Indonesia is an energy rich nation with the second largest geothermal potential in the world, and is home to more than 800 rivers with hydroelectric power. Indonesia has one of the largest energy reserves in the world, with current domestic consumption rates only utilizing about half of their capacity. Current statistics estimate that, in the future, Indonesia will possess about 200 GW of renewable energy.
Governor Kamil is definitely no stranger to limelight as he leads over 50m of his people residing within his governed jurisdiction of West Java and to no surprise will be running for presidential candidate at the national election taking place in 2024.
Governor Kamil initially learnt about Bitcoin five to six years ago, and has been applying and actively integrating blockchain and IoT technology with his businesses. He utilizes blockchain technology in his coffee business for supply chain transparency and verification purposes and IoT technology in the agriculture and farming sector.
Governor Kamil states that Indonesia’s renewable energy reserves are where the Bitcoin mining industry will make its way into the country. Kamil wants to open up the energy sector to foreign investment and thereby invite Bitcoin miners to assist with infrastructure projects and development. Kamil aspires to educate Indonesians on the benefits of Bitcoin as a financial inclusion tool and technology that will revolutionize our relationship with energy.
Governor Kamil goes further to mention that he views the Bitcoin Lightning Network as the solution to banking the unbanked part of society, as that number in Indonesia currently stands at 40%.
