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Indonesian Vice Minister of Commerce Dr. Jerry Sambuaga was the Guest of Honor at the TRESCON World Blockchain Summit held at Marina Bay Sand Expo, Singapore, facilitated by the Asia Blockchain Association

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Singapore, Singapore–(Newsfile Corp. – July 30, 2022) – Indonesian Vice Minister of Commerce Dr. Jerry Sambuaga met with his colleague Singapore Minister of State for the Ministry of Commerce and Industry and Culture, Community and Youth (MCCY) – also a member of the Board of Directors of the Monetary Authority of Singapore: Mr. Alvin Tan, on his visit to Singapore from 15 to 18 July 2022. On this visit, Mr. Jerry was also invited as Guest of Honor for the TRESCON World Blockchain Summit, facilitated by the Asia Blockchain Association, which took place at the Marina Bay Sand Expo.

Mr. Sambuaga and Mr. Tan discussed how emerging technologies and industry like Blockchain (cryptocurrency) could be applied in both countries. trade crypto – the intangible product – is their main concern.

In recent years, the governments of many countries have been trying to find the appropriate and adequate regulations for crypto, digital assets known for their decentralized nature. For Mr. Sambuaga, it is essential that governments have a monitoring and surveillance system for cryptocurrency trading. The deal must also have an appropriate custody structure. The decentralized nature of cryptocurrencies must be controlled and supervised by the government.

Dr. Jerry Sambuaga said, “Indonesia is currently preparing an integrated Crypto Exchange that will adopt the existing integrated commodity trading system, which will be more advanced and up-to-date. This integrated exchange will make Indonesia the first country to centrally control domestic crypto trading. The Exchange Custodian is part of the system for regulating and supervising the circulation of crypto assets. It is important to implement Custodian in the industry to safeguard the digital assets of consumers and investors.”

At the same time, Mr. Alvin Tan said, “We had a good meeting on strengthening our bilateral trade and economic ties, and we especially exchanged views on the future of Blockchain-based assets. I look forward to strengthening ties with Pak Jerry and also with the new generation of Indonesian leaders.”

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Both the ministers and the provisional board of the Singapore branch of the Asia Blockchain Association, the members of the subcommittee and the leader of the secretariat together with Sangkara ($MISA). an Indonesian blockchain startup also had another roundtable behind closed doors.

Thought leaders from both countries exchanged views on how cryptocurrencies will change the world in commerce and finance with the introduction of securitized tokens, non-fungible tokens, and money transfers, etc. In conclusion, it is important to implement custody to safeguard the digital data of active consumers and investors.

The Minister invited ABA, through its Provisional Board Member, Mr. Goh Seh Harn, to further share his thoughts on certification and how ABA can provide a clear path for industry professionals and businesses to engage with the web3 community, as well as host training programs to further explore education certification standards.

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Mr. Goh welcomed and applauded the governments of Indonesia and Singapore for their initiatives in advancing cryptocurrency exchanges and hoped that it would inspire more regional countries, resulting in more knowledge sharing across the region. “For example, Singapore can also contribute its governance knowledge base and, in turn, gain experience from Indonesian initiatives. ABA, through its global chapters, looks forward to fostering these relationships and assisting various industry stakeholders, including the private sector and regulators, in strengthening blockchain capabilities globally,” he added.

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The day-long program ended with a VIP Meet And Greet with guest of honor Dr. Jerry Sambuaga and a fireside chat led by representatives from ABA, Sangkara, Bloomberg LP and Rubix Network. ABA is the bridge for the intergovernmental program and the community between countries where the platform creates synergies between cross-border initiatives to further promote the new economy. The Indonesian Ministry of Commerce and ABA are also discussing a Memorandum of Understanding. During the founding stage (June-September 2022), APAC supporters and supporters are greatly appreciated:

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ABA Headquarters Acting Executive Director, Ms. Wendy Vanessa Yew, added: “cryptocurrency and digital assets need to be regulated in a more structured way, as Blockchain technology, especially decentralized finance, is the future of the financial world. The Republic of Singapore is poised to position itself as a leading international blockchain, cryptocurrency and digital asset center”.

Headquartered in Singapore, serving the Asia-Pacific region with country-specific chapters and notes in a Decentralized Autonomous Organization (DAO) format, ABA aims to be a beacon and serve as an advocate for the Web3 space. With that, the association will be a supporting partner for upcoming programs such as:

(1) FutureX Hackathon 2022 by NTUC Income, Amazon Web Services, Plug and Play APAC 25-27.7.22 (Regional):

(2) Web3Con, Web3 Conference 28.7.22 (Singapore):

(3) Play To Earn Expo 10-13.8.22 (Thailand):

(4) Currency Fest 25-26.8.22 (Indonesia):

(5) Game on! 2022 8-9.9.22 (Hong Kong):

(6) IDF-Singapore Web3 Summit 26-27.9.22 (Singapore):

Asia Blockchain Association will also host its first exclusive event – ​​Asia Metaverse Festival at Asia Crypto Week (Sep 26 – Oct 2, 2022) in conjunction with Token 2049 and the Formula 1 Grand Prix in Singapore. For more information please visit

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Mitra Sangkara Abadi PTE LTD
Boulevard Office Tower
6th Floor Suite B1-B2
Tanah Abang
Central Jakarta
Email: [email protected], [email protected]

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