On September 9, 2022, the Indonesian Custodian Bank Association (ABKI) hosted its first offline seminar since the pandemic, titled "Weaving the Cradle of Digital Assets for Indonesia's Capital Market." Representatives of Indonesian custodian banks, members of ABKI, and representatives from The Indonesia Central Securities Depository attended the seminar (KSEI).
The ABKI seminar featured two (two) guest speakers, Mr. Rehan Ahmed, Chief Product Officer of Marketnode, and Mr. Rajeev Tummala, Director, Digital & Data, Securities Services HSBC. They shared their in-depth knowledge and expertise.
Mr. Rehan Ahmed categorizes vital distinctions between the current dematerialized market and the digital market as programmable assets, programmable money, and ESG significance. One example is the ability to set a higher coupon rate when certain conditions are met (event-driven). It demonstrates a degree of adaptability absent from the current digital ecosystem. The ability to accommodate various restrictions when selling a financial product in multiple jurisdictions is a further illustration of the importance of adaptability. Additionally, Mr. Rehan Ahmed highlighted further flexibility in complying with environmental, social, and governance standards (ESG).
Mr. Rajeev Tummala elaborates more on the technical aspects of the concept, which include Distributed Ledger Technology (DLT), Blockchain, and Smart Contracts, as well as the application of these potent technologies in the banking and finance industry. In addition, he discussed crypto-assets (the most developed class of digital assets), NFTs, and the Metaverse.
To embrace the new future, the Indonesian capital market would need a different set of supporting infrastructure and regulatory frameworks.
Following the event, ABKI hosted a CSR event titled "Marine Life Matters" on September 10, 2022, during which we released hatchling turtles (Tukik) on Bali's Petitenget beach as part of ABKI's ESG initiative.
