Jakarta (ANTARA) - The Minister of Creative Economy, Teuku Riefky\nHarsya, alongside the independent research institution Indonesia\nFasilitator (InFast) Bestari, is encouraging the use of blockchain\ntechnology to broaden access to financing for creative economy actors\nand to create quality jobs for the middle class.<\/p>\n
Riefky stated that the creative economy plays a strategic role in\naddressing the challenges of job creation for the younger generation,\nwhile simultaneously supporting the middle class by increasing income\nand purchasing power.<\/p>\n
\u201cCurrently, approximately 63 per cent of the 27.4 million creative\neconomy workers are from Gen Z and Millennials. This means every\nsub-sector of the creative economy has great potential to open up\nemployment opportunities while serving as a pillar for the middle class\nthrough increased income and strengthened public purchasing power,\u201d\nRiefky said in a statement received in Jakarta on Wednesday.<\/p>\n
According to him, strengthening the financing ecosystem is a crucial\nelement in driving the growth of creative economy actors. To this end,\nthe Ministry of Creative Economy is encouraging collaboration between\nthe government, academics, business actors, communities, media, and\nfinancial institutions through a hexa-helix approach.<\/p>\n
Under this scheme, digital technologies such as blockchain can be\nutilised as part of the effort to provide alternative financing for\ncreative economy players. The use of such technology is directed towards\nsupporting improved access to funding, particularly for creative actors\nwho have historically faced capital barriers in expanding their\nbusinesses and downstreaming their works.<\/p>\n
\u201cWe want to introduce financing breakthroughs that utilise\ndevelopments in digital technology, such as blockchain, to strengthen\nIndonesia\u2019s creative economy ecosystem,\u201d said Riefky.<\/p>\n
He mentioned that the development of this scheme could be\ncollaborated with Bank Indonesia and the Financial Services Authority\n(OJK), including through several programmes such as Creative Economy\nData and Creative Economy Funds.<\/p>\n
The Ministry of Creative Economy also views that strengthening\ncreative economy financing is not only related to business growth but is\nalso linked to the sustainability of the middle class. With wider access\nto funding, creative entrepreneurs are expected to be able to expand\nproduction capacity, create jobs, and increase income.<\/p>\n
During the meeting, InFast Bestari also highlighted the economic\nvulnerability of the middle-class group. The Director of Research and\nDatabase at InFast Besterm, Hizkia Yosias Polimpung, referred to this\ngroup as \u2018the missing middle\u2019\u2014those who do not qualify for social\nassistance but face significant economic pressure.<\/p>\n
\u201cThis middle-class group is too wealthy to receive social assistance,\nbut too poor to be said to live decently. This is why we propose they\nshould be provided with scaffolding, a cushion, so that their economic\nstatus does not decline further,\u201d said Hizkia.<\/p>\n
Strengthening access to financing for the creative economy is part of\nthis effort. With stronger financial support and a more robust business\necosystem, the creative industry is expected to become a source of job\ngrowth and support the consumption of the middle class.<\/p>\n
Discussions regarding the use of blockchain will subsequently be\nbrought to the National Symposium, \u201cBlockchain-Based Urban Cooperative\nEcosystem: Economic Growth Strategy Based on the Urban Creative Middle\nClass,\u201d to be held on 30 September 2026.<\/p>\n
The forum is projected to bring together approximately 300-400\nstakeholders to discuss the development of a cooperative-based economic\necosystem, blockchain technology, and the urban creative middle\nclass.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/creative-economy-minister-promotes-blockchain-utilisation-for-middle-class-financing-1790733803", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }