President Joko Widodo was present as a speaker at the Bali Fintech Agenda, Thursday in Nusa Dua, Bali. In his direction, the President invited all parties to provide flexibility for technological innovation by not giving too binding regulations. In addition, he said, governments around the world must also provide protection to inventors to develop technologies that will benefit both economically and scientifically.
According to him, the technological innovation requires flexible space to conduct various experiments. Strict regulations, according to him, will only hinder innovation and encourage people to act against these regulations and enter unregulated domains.
"What we as national regulators would achieve? If we regulate too restrictively or if we try to move towards a closed system inside our national borders is nearly to drive economic actively further away into cyberspace where not only we cannot regulate it, most likely we will not even know it is happening until it is too late. Therefore I believe that openness to global standards and global platform in addition to light thought and save harbour are not only desirable policy but nearly realistic policy)of inventors are not only expected policies but also realistic policies," said President Joko Widodo.
Furthermore, in his direction at Bali Fintech Agenda, President Joko Widodo also acknowledged that the Indonesian government is still trying to socialize the reality of technological developments in the world today. Bali Fintech Agenda is a series of meetings held at the 2018 IMF-WB meeting in Bali. This agenda addresses opportunities and challenges for technology that have the potential to change the economic and financial landscape. Attending the Bali Fintech Agenda, World Bank Group President Jim Yong Kim, IMF Managing Director Christine Lagarde, a number of working cabinet ministers and ambassadors of friendly countries. (VOI/Ndy/AHM)