A smart contract is a computer program or code whose execution does not require the intervention of a trusted third party. In the context of blockchain, it is a program that automatically activates on a distributed network when certain conditions are met on the shared registry.

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Jakarta was one of the world's top 10 crypto-capitals in 2017 according to IDACB (International Decentralized Association of Cryptocurrency and Blockchain). This means that the city has created conditions for trading, crypto-exchanges, mining and ICO. This ranking was compiled by artificial intelligence based on research of cryptocurrency events worldwide. The Indonesian government, however, remains skeptical of digital money and therefore may only agree to accept its own cryptocurrency in the future. However, the business community shows growing interest in new opportunities offered by the digital economy.

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The volume of Indonesia’s digital economy will reach about USD $130 billion by 2020, which will make the country among Southeast Asia's leading nations in terms of digital development. This was stated by local authorities just a week ago. New technologies, blockchain and transformation of the IT-sector will play key roles in this process. With this context in mind, the Blockchain INDO conference in Jakarta, to be held on 11-12 May 2018 in the Kempinski Hotel in Central Jakarta, becomes even more relevant.

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