Strengthening Cybersecurity to Support Digital Finance, Economy

VIVA – The Indonesian Tourism and Creative Economy Minister Sandiaga Salahuddin Uno said that it is necessary to strengthen cybersecurity to support the progress of national digital finance and economy. 

“Mr. President said in 2030, the total value of our digital economy is projected to reach US$315 billion. This means that it must be reinforced with a great cybersecurity system formulated by our own (citizens)," Minister Uno said at the 2023 Digital Finance and Economy Festival. 

He also stated that improving cybersecurity could also be an opportunity for young domestic developers and entrepreneurs to develop a product that strengthens the cybersecurity system. 

Minister Uno also underlined the importance of expediting digital connectivity to support payment systems so that they can be made accessible to the whole nation.

A simple like accessible payment system is vital for micro, small, and medium enterprises (MSMEs), particularly those engaged in the creative economy sectors, such as culinary, fashion, and crafts.

Payment systems such as QRIS (Quick Response Code Indonesia Standard) can ensure the continuity of economic activities and transactions, particularly in tourism villages, he stated. 

"More than 60 percent of MSME players in the creative economy sector are women, and these women are great fighters, however, they need (a payment system) which is not complicated nor confusing," the minister informed. 

On the same occasion, Head of the Board of Commissioners at the Financial Services Authority (OJK) Mahendra Siregar highlighted the importance of maintaining a balance between encouraging innovation and maintaining security, health, and balance of the financial services sector and players.

He also stressed that the development of the digital industry in financial services is focused on promoting financial inclusiveness for people and business players, particularly MSMEs.

"When we look at this inclusion aspect, then, the last survey made last year showed that Indonesia's financial inclusion is in the range of 86 percent. Actually, this is not so far from the maximum rate, it is just that in terms of utilization and literacy, those still need to be improved," Siregar explained.