PUBLIC POLICY LEGAL PROTECTION FOR THE APPLICATION OF BLOCKCHAIN TECHNOLOGY IN THE INDONESIAN ECONOMY

Abstract

This study delves into the potential impact of blockchain technology on the Indonesian economy, employing a qualitative research approach anchored in relevant scholarly literature. It underscores the crucial role of a robust legal framework in ensuring the successful integration of blockchain within the economic landscape. To achieve this, the exploration emphasizes the necessity of clearly defined regulations that encompass governance structures, data storage protocols, and robust privacy protections. Furthermore, the establishment of an effective enforcement mechanism is deemed critical to address potential transgressions. The analysis meticulously examines data security and user privacy concerns, highlighting the pivotal role of transparency and accountability in safeguarding system integrity. Ultimately, the study emphasizes that the implementation of a well-designed legal framework can pave the way for blockchain technology to propel Indonesia's sustainable economic growth while upholding essential principles of fairness, transparency, and data security.