Deputy Minister of Creative Economy Irene Umar said that the government is committed to preparing comprehensive regulations regarding Real World Assets (RWA), tangible assets that can be tokenized and have the potential to become collateral in a decentralized financial ecosystem based on blockchain technology .
"We will strive to create holistic RWA regulations, from new payment method standards to distribution mechanisms and registration of digital asset rights," he said at an event titled "Tokenizing the World: Unlocking the Global Wealth with Web3 and Real World Assets" held by Coinkami in Jakarta, Friday (25/4).
As quoted in the ministry's press release, he said that holistic regulations will help investors, creative business actors, and the general public utilize Web3's potential safely.
He stated the need for intensive dialogue between the government, industry players, academics, and associations in formulating a regulatory framework regarding blockchain- based RWA .
"We invite all blockchain ecosystem builders to sit together, discuss technical and legal aspects, and the need to socialize AI and blockchain technology to the wider community," he said.
