Metaplanet surpasses 4K Bitcoin following stock split

Crypto emerges as topic in Indonesian election campaignAs Indonesia gears up for its upcoming presidential election, the country’s crypto market has become a focal point for political discourse. Gibran Rakabuming Raka, a vice presidential candidate and the eldest son of President Joko Widodo, recently unveiled his plans to foster expertise in blockchain and crypto within the Southeast Asian nation.Chosen as the running mate for presidential candidate Prabowo Subianto, the 36-year-old politician aims to elevate tech education in Indonesia, opening avenues for the younger generation, particularly in the realm of digital assets. According to a report by Indonesian online news portal detikNews, while speaking at a political gathering on Dec. 10, Gibran asserted:“We are preparing blockchain experts, we are preparing cyber security experts, we are preparing crypto experts.”Photo by Nick Agus Arya on UnsplashCrypto potentialIndonesia has emerged as being ahead of the curve in terms of crypto adoption, ranking seventh on Chainalysis’ 2023 global crypto adoption index. With an estimated 18 million crypto investors, the country boasts a robust industry association that also functions as a self-regulatory body.Local news media reported in October that the Southeast Asian country has seen a 10.1% year-on-year increase in the number of crypto investors. At the time, Tirta Karma Senjaya, Head of the Commodity Futures Trading Regulatory Agency, said, "Growth in the number of crypto investors in Indonesia continues to increase, but investors are still looking for the right time to buy crypto.”Private sector entities have also identified the raw potential. In the same month, Web3 consulting firm Tiger Research, in partnership with South Korean crypto data platform Xangle, produced a report which identified significant potential for the development of Indonesia’s Web3 market. There are over 30 crypto exchanges operating in the country, acting as the primary channel through which growth in crypto is propelled in Indonesia.Capitalizing on crypto interestThe government, under President Widodo, has actively sought to capitalize on this crypto enthusiasm, going as far as establishing a local “stock market” dedicated to crypto assets.Gibran’s proactive stance on crypto education aligns with his broader vision of positioning Indonesia at the forefront of the global digital revolution. The country’s rapidly growing tech landscape and crypto adoption make it an opportune space for fostering expertise in these cutting-edge technologies.As the presidential election approaches, Gibran’s commitment to cultivating a pool of crypto experts underscores the potential influence of the crypto industry in shaping Indonesia’s economic future.An international topicCrypto is increasingly becoming an important topic in elections globally. In the United States, many of the presidential candidates, particularly within the Republican Party, have publicly expressed their interest in crypto and blockchain. Yesterday, Ripple CEO Brad Garlinghouse took to the X social media platform on the subject, stating:”Team @Ripple is putting a stake in the ground, leading the charge with other industry leaders to support pro-innovation and pro-crypto candidates in the 2024 US election cycle. The US cannot afford to continue taking a back seat on the global stage.“With Indonesia’s election frontrunners, Prabowo and Gibran, expressing interest in the sector, it remains to be seen how this focus on crypto will resonate in the upcoming political debate on Feb. 4.

Data Labs leverages blockchain technology for data-based travel itinerary appFounded in 2021, Data Labs is changing the landscape of travel by leveraging blockchain and NFT technology to offer a wallet service called “MyInfo Market,” where users can store and control their own data, according to an article published by Korean news outlet Data News.In particular, MyInfo Market can be used in tandem with the company’s travel app Yeohaengdaelo, which utilizes users’ travel-related data to recommend travel destinations and organize and share itineraries. Users can directly manage their personal preference information on MyInfo Market and selectively submit the information necessary to receive rewards. “It’s not just a travel itinerary app, it’s also a way for individuals to earn money using their own data,” said Kim Jong-hyun, CEO of Data Labs.Photo by Eva Darron on UnsplashSeamless travel experienceYeohaengdaelo integrates Naver Blog, Instagram and KakaoTalk services into one app, aimed at relieving the stress that comes with travel preparation, Kim explained. It utilizes data such as the region a user is traveling to, their travel companions and information on facilities, as well as their travel preferences and patterns. The app also provides real-life services such as discounts at designated restaurants near the travel site.Building trust and valueThe company explained that it intends to maintain a cyclical data ecosystem where users can willingly provide their data to get travel recommendations and receive suitable compensation for that information in return. Because the ecosystem is blockchain-based, it provides a safe method of personal information management.Since the launch of Yeohaengdaelo in July, Data Labs has been developing a business model that can secure a solid user base and revenue for affiliated businesses. It expects to reach 55,000 members next year and 2.14 million members by 2028. The company also expects to use the business model as a basis for generating KRW 500 million (approximately $386,000) in revenue next year by linking marketing channels, issuing discount coupons for kids’ amenities and providing data royalties.In the future, Data Labs plans to expand Yeohaengdaelo to include not only travel preparation services but also information on various discounts that users can receive based on the location they are in. Efforts like this will be necessary to provide unique user experiences, the company said.Data Labs is also currently receiving support through Y&Archer’s tourism acceleration program. Y&Archer is a Korean investment and acceleration firm known for its AC Program, which discovers, accelerates and supports startups through various projects.“In the past, companies profited from personal data, but Yeohaengdaelo allows individuals to monetize their data. Our goal is to create a world where individuals can regain the rights (to their own data) and be at the center of Web3 content,” Kim said.

Gyeonggi-do Province Mandates Senior Officials to Report Crypto HoldingsSouth Korea’s most populated province which encircles Seoul has taken a proactive step towards regulating virtual assets by notifying the legislation of an amendment to the code of conduct for public officials. As reported by local news outlet Yonhap News Agency, the Gyeonggi-do province will gather public comments on the amendment until July 25.Photo by Ryoo Geon Uk on UnsplashProvincial levelUnder the revised code of conduct, Gyeonggi-do officials will be prohibited from engaging in property transactions or investments related to virtual assets, using any virtual asset information acquired during the course of their duties. Provincial officials are also forbidden from providing virtual asset information to others to aid their property transactions or investments.Implementation next monthThe amendment compels public officials whose duties involve crypto-related projects, as well as high-ranking officials with an obligation to report their wealth, to declare their virtual assets. Once reviewed by the Ordinance and Rules Review Committee early next month, the amendment will be implemented immediately.National levelA Gyeonggi-do official explained that the decision to preemptively amend the code of conduct regarding virtual assets was made in anticipation of the implementation of the revised Public Service Ethics Act. This act, passed during the National Assembly’s plenary session in May, mandates high-level government officials to report their virtual assets and is set to become effective on December 14.Gyeonggi-do’s crypto surveyGyeonggi-do has been active in taking measures related to crypto assets. In a recent announcement, the province revealed its plan to conduct a survey among residents, aimed at hearing their experiences with unfair virtual asset trading practices. The survey is scheduled to run from August to November and was prompted by a growing number of residents suffering unfair losses from crypto investments amidst an economic slowdown.