BITPAYS: Leveraging Bitcoin for Digital Payments to Fuel Economic Growth in Indonesia's Society 5.0 Era

Abstract

The swift evolution of information technology in the last two decades has heralded the era of Society 5.0, wherein cryptocurrencies have emerged as forefront innovations. Cryptocurrencies like Bitcoin, as digital assets and payment mechanisms, champion decentralized finance and worldwide connectivity via blockchain technology. The burgeoning interest in cryptocurrencies within Indonesia, underscored by Bappebti's data revealing a positive trajectory with over 17.91 million crypto investors by September 2023, underscores the imperative for innovative applications of Bitcoin in digital payments. This necessity gave rise to BITPAYS, an application devised to bolster the digital economy's growth within the Society 5.0 paradigm. Designed for ease of use, BITPAYS simplifies employing Bitcoin in everyday transactions. With the soaring popularity of cryptocurrencies, BITPAYS aspires to fulfill the demand for pioneering payment solutions. Observing the successful incorporation of cryptocurrencies as payment methods in the United States and Russia, Indonesia stands to draw inspiration, contingent upon the establishment of conducive regulatory frameworks. This research delves into leveraging Bitcoin as a digital payment instrument to foster the digital economy's expansion in the Society 5.0 era. It further explores BITPAYS’ application implementation to streamline daily Bitcoin transaction activities. This study aims to underscore Bitcoin's role as a digital payment medium and elucidate BITPAYS application operations. Employing a descriptive analytical methodology and the ADDIE model for BITPAYS application development, this investigation seeks to offer comprehensive insights into cryptocurrency utilization as a digital payment alternative in Indonesia. BITPAYS is anticipated to significantly enhance cryptocurrency investment value and simplify everyday transactions, thereby elevating public consciousness of Bitcoin's utility and advantages as a payment method.