Lisk, a prominent Ethereum Layer-2 solution, has partnered with an Indonesian government-run startup initiative to launch a Web3 program called ‘Ignit3.’ This program was announced during the Coinfest Asia 2024 event in Bali and is set to become the first government-backed Web3 program in Indonesia. Ignit3 aims to support and nurture the local Web3 startup ecosystem by providing mentorship, resources, and networking opportunities. The collaboration between Lisk and Gerakan Nasional 1000 Startup Digital, a government-supported program in Indonesia, is expected to empower developers, enhance financial inclusion, and build a strong crypto community in the region.
The partnership between Lisk and Gerakan Nasional 1000 Startup Digital is part of efforts to accelerate Web3 innovation in emerging markets. By offering support and scaling opportunities to Web3 projects and entrepreneurs in Indonesia, the collaboration seeks to drive real-world assets (RWA) adoption in developing economies. This initiative demonstrates Lisk’s commitment to advancing blockchain technology and fostering innovation in Southeast Asia. Dominic Schwenter, the COO of Lisk, emphasized the importance of empowering developers and building a robust crypto community through strategic partnerships and initiatives like Ignit3.
The crypto and Web3 ecosystem in Indonesia have been rapidly expanding, with growing government support for blockchain technology. The Commodity Futures Trading Supervisory Agency of Indonesia (Bappebti) is preparing to transfer the supervision of crypto assets to the Financial Services Authority (OJK) in January 2025. This move signifies a shift towards regulatory oversight and recognition of the potential of blockchain across different sectors. The Indonesian government has also shown interest in exploring blockchain applications, particularly in the financial services sector, where the Financial Services Authority (OJK) has created a regulatory sandbox to promote innovation in Web3.
The Indonesia Crypto and Web3 Report 2023 revealed that 97 companies have registered for the regulatory sandbox as of November 2023, indicating a strong interest in blockchain technology and its applications in the country. With initiatives like Ignit3 and partnerships between blockchain companies and government-backed programs, Indonesia is positioning itself as a hub for Web3 innovation in Southeast Asia. The collaboration between Lisk and Gerakan Nasional 1000 Startup Digital underscores the growing interest in blockchain technology and the potential for driving economic growth and financial inclusion through Web3 projects in emerging markets like Indonesia.
Overall, the partnership between Lisk and the Indonesian government reflects a strategic effort to advance Web3 innovation and support the growth of the blockchain ecosystem in Indonesia. By focusing on empowering developers, promoting financial inclusion, and fostering a strong crypto community, initiatives like Ignit3 play a crucial role in accelerating the adoption of blockchain technology and driving economic development in emerging markets. With increasing government support and interest in blockchain applications, Indonesia is poised to become a key player in the global Web3 space, offering opportunities for startups and entrepreneurs to thrive in the evolving digital economy.
