E-KYC: Digital Economy’s Main Pillar

Along with these developments, a safe and fast identification system is needed to support various activities in digital space.

Every day, news continues to emerge about developments in Indonesia’s digital economy. This could be about the latest issues regarding financial technology, e-commerce or even the metaverse. It is undeniable that Indonesia's digital economy has made a large economic contribution, even though it is currently in decline because of the Covid-19 pandemic.

According to the Google, Temasek & Bain report, the valuation of Indonesia's digital economy, which increased 49 percent in 2021 to US$70 billion, is projected to increase further to $146 billion by 2025. The high potential growth of the digital economy is inseparable from the sharp increase in digital activities in various sectors such as e-commerce, which grew 52 percent, while transportation and food delivery services increased 36 percent in 2021.