Is Blockchain a Viable Opportunity for Startups in Indonesia?

This article provides information on the problems faced by small businesses in emerging countries where banking, other financial technology (fintech) solutions, and identity management are not adopted adequately. In Indonesia, MSMEs create 89% of all private-sector employment and account for more than 50% of the GDP. The solution to this problem could be a blockchain-based and business-oriented data infrastructure, on the basis of which the public profiles of those companies could be built and mapped. This would allow internet searchability, verification elements like Know Your Customer (KYC), as well as the means for inter-company and seller-buyer data exchange.