Senin, Oktober 15, 2018

Government to Encourage Innovation by Relaxing Provisions on the Digital Economy

President Joko Widodo has demanded that any regulations which address Internet use should not employ a restrictive approach in terms of users, as this will stifle innovation and hamper the development of the country’s cyber economy.
According to Minister of Communication and Informatics, Rudiantara, the role of the Ministry has now shifted from that of regulator to facilitator and accelerator of the digital economy. This shift can be seen in the overall reduction in license types, from the previous total of 36 licenses to the current total of just five. Furthermore, Rudiantara has also elaborated upon the future approach to regulation, which will be handled by each sector individually due to the fast-changing nature of the digital economy.
In other recent developments, in order to establish a financial technology (“Fintech”) development reference, the International Monetary Fund and World Bank have just published the Bali Fintech Agenda, which addresses the following elements, among others: 1) Support for Fintech development; 2) Utilization of new technologies; 3) Encouragement of competition and commitment to an open market; 4) Protection of the integrity of the financial system; and so forth.
For more on this story, see Hukumonline: “Presiden: Regulasi Internet Harus Hati-Hati dan Perhatikan Kepentingan Konsumen”.

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President Joko Widodo has demanded that any regulations which address Internet use should not employ a restrictive approach in terms of users, as this will stifle innovation and hamper the development of the country’s cyber economy.
According to Minister of Communication and Informatics, Rudiantara, the role of the Ministry has now shifted from that of regulator to facilitator and accelerator of the digital economy. This shift can be seen in the overall reduction in license types, from the previous total of 36 licenses to the current total of just five. Furthermore, Rudiantara has also elaborated upon the future approach to regulation, which will be handled by each sector individually due to the fast-changing nature of the digital economy.
In other recent developments, in order to establish a financial technology (“Fintech”) development reference, the International Monetary Fund and World Bank have just published the Bali Fintech Agenda, which addresses the following elements, among others: 1) Support for Fintech development; 2) Utilization of new technologies; 3) Encouragement of competition and commitment to an open market; 4) Protection of the integrity of the financial system; and so forth.
For more on this story, see Hukumonline: “Presiden: Regulasi Internet Harus Hati-Hati dan Perhatikan Kepentingan Konsumen”.

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