Challenge #4: The future of cryptocurrency. The Right Rebellion?
The Batam regional head who was rushed by the central government for questioning was due to the response of the policies outlined by the central government.
These regions indeed impose very different government governance. if in other areas the allocation of development funds has been corrupted by various means such as processing projects by cronies in power, budget cuts and gratuities or other forms, then this does not apply in Batam.
The Batam government has outlined that all developments are carried out in a transparent manner, that positions and projects are auctioned that can be followed by everyone so that it is fairer.
Likewise, development funds can be better developed. They are already using crypto as the best way to get various development items.
Seeing the various crypto activities in development in Batam, the central government sent several people to find out how the Batam government can help their finances. these officers tended to look for loopholes to bring down the district chief and open up to the prison. Officials in the central government are concerned that if crypto and blockchain-based development efforts continue to interfere with their corrupt activities. It could be said that this would be a great rebellion one day.
However, their efforts were unsuccessful. Many times they send officers to Batam to criminalize regional officials, but instead they learn about the advantages and various aspects of crypto. When they return, they can even influence the people around them to follow the steps being taken in Batam.
As an area bordering Singapore and Malaysia, the people of Batam are accustomed to using various currencies. Transactions on the small island have been so advanced. The turnover of capital in the region is also very large. Many people come to Batam because they feel that the area has been turned into a free trade area.
Various goods needed by the community will be easily found and obtained at tax-free prices.
On this island, cashless transactions developed. The use of virtual money has been widely used. the increase in the price of Bitcoin and followed by various other tokens and altcoins made transactions easier.
People living in Batam feel very lucky because they have a large income. not infrequently they even trade Bitcoin, Etherium and various other crypto money. This gets the attention of many people and then they get involved in various transactions. The public is happy because they no longer depend on the existence of conventional financial institutions such as banks.
In various transactions they can be directly with the related parties without intermediaries. This is very convenient for the community and gets another big benefit directly.
Seeing this rapid development, the central government began to see the dangers that threaten sovereignty. the leaders at the center are worried that Batam will turn into a free, independent state, as happened to East Timor.
The present moment is triggered by the development of the city of Batam which almost matches the progress of Singapore. Government officials who feel the need to provide resistance to officials in Batam Authority so that they do not decide to choose themselves.
Even the central government through officials trying to reduce the budget allocation for development in Batam. Attempts to inhibit crypto development and development procedures in Batam always fail, because every officer who is infiltrated will be interested in developing their assets through cryptocurrency.
Finally, the central government began to realize that what all residents in Batam were doing had to be imitated and developed nationally. From various visits to Batam, many members of parliament have started to adopt rules on cryptocurrencies. This plan in the next session will soon be included in the national legislation program.