Objective: This study aims to comprehensively analyze the transformative potential of asset tokenization for Micro, Small, and Medium Enterprises (MSMEs) within the Decentralized Finance (DeFi) ecosystem, with a focus on opportunities, risks, and the hybrid governance architecture required. Research Design & Methods: This study uses a qualitative approach, combining a systematic literature review and case studies with thematic content analysis of secondary data from credible sources to identify patterns and key themes. Findings: Findings show that tokenization of MSME assets offers significant opportunities, such as broader and faster access to funding through fractionalization of ownership, increased asset liquidity, operational efficiency, and enhanced transparency and security. However, this implementation is accompanied by various risks, including smart contract vulnerabilities, cyber attacks, blockchain scalability challenges, regulatory uncertainty, market volatility, and operational risks related to reliance on off-chain third parties. A hybrid governance architecture that integrates on-chain and off-chain elements is essential to mitigate these risks. Implications & Recommendations: This study indicates that tokenization can be an essential bridge for MSMEs to enter the global digital economy, but it requires improved digital literacy and technological readiness. For investors, it offers new diversification opportunities with inherent risks. Policy recommendations include adaptive regulation, simplified compliance, digital education, infrastructure strengthening, utilization of regulatory sandboxes, and cross-sector collaboration and standardization. Contribution & Value Added: This study presents a comprehensive framework for tokenizing MSME assets, offering practical guidance for various stakeholders to promote financial inclusion and equitable economic growth.
Ketidakpastian ekonomi dan inflasi mendorong investor untuk mencari aset lindung nilai. Emas telah lama dianggap sebagai safe haven, sementara Bitcoin mulai dipandang sebagai alternatif digital. Penelitian ini bertujuan untuk menganalisis pengaruh harga emas terhadap pergerakan harga Bitcoin dengan indeks Dow Jones sebagai variabel kontrol. Metode yang digunakan adalah regresi linear dengan pendekatan Ordinary Least Squares (OLS), menggunakan data sekunder bulanan dari tahun 2019 hingga Oktober 2024. hasil penelitian menunjukkan bahwa emas memiliki pengaruh positif dan signifikan terhadap harga Bitcoin, sedangkan indeks Dow Jones tidak menunjukkan pengaruh yang signifikan. Temuan ini mendukung teori penyimpan nilai (store of value) dan semakin memperkuat peran Bitcoin sebagai aset alternatif dalam menghadapi ketidakpastian ekonomi. Hasil ini dapat memberikan implikasi praktis bagi investor dan pengambil keputusan dalam menggunakan pergerakan harga emas sebagai indikator untuk mengantisipasi pergerakan harga Bitcoin dan strategi manajemen risiko portofolio di tengah transisi global menuju digitalisasi ekonomi.
The development of digital technology has driven the transformation of the global economy, including in Indonesia, through the commercialization of digital assets such as creative works, Non-Fungible Tokens (NFTs), and e-commerce platforms. However, the national legal system is still unable to accommodate these dynamics comprehensively. This study aims to analyze the effectiveness of legal protection of CopyrightCopyright as a digital asset in technology-based transactions, using normative legal methods and legislative, conceptual, and comparative legal approaches. The results of the study show that Law Number 28 of 2014 concerning Copyright and related regulations still has a gap in norms in dealing with new forms of digital intellectual property, weak law enforcement, and limited technical understanding by law enforcement officers. In addition, the less-than-optimal regulation in the financial, taxation, and personal data protection sectors increases the legal risks for digital economy actors, especially MSMEs and content creators. Therefore, responsive legal reforms are needed to strengthen the digital justice system, integrate technologies such as blockchain and AI, and increase legal literacy and coordination between institutions. This reform is important to create a fair, safe, and sustainable digital ecosystem that supports the growth of the national creative economy.
Universitas Indonesia, Sendrawan Tjhong, Rosa Agustina, Edmon Makarim · 6 authors
Inheritance laws regarding the transfer of digital property after someone’s death is a relatively new and evolving area of legal consideration. Inheritance laws were developed long before the widespread adoption of digital property, such as cryptocurrencies, non-fungible tokens (NFTs), online accounts, and other forms of digital property. Therefore, existing inheritance laws often lack clear guidance on how to handle the legal transfer of these digital assets upon the owner’s death. This article aims to analyze the legal concept of digital property to be inherited and provide solutions for current digital property inheritance issues from a notarial perspective. To conduct a thorough analysis on digital property inheritance law and how notaries should play a role in digital inheritance matters, this study employs a doctrinal legal analysis of current national and international laws and regulations pertaining to digital property succession; comparative legislative studies examining proposed policies across jurisdictions to garner real-world insights into the operational challenges, emerging practices, and pragmatic considerations surrounding notary participation in digital inheritance procedures. Updating inheritance laws to address the transfer of digital property is crucial in order to protect the rights and interests of individuals, promoting legal certainty, and ensuring that these valuable assets are properly accounted for and transferred to rightful heirs or beneficiaries. The law of property in the Indonesian Civil Code needs to be immediately adjusted to the development of the digitalization era. This article suggests optimizing the role of notaries to create authentic deeds on digital property inheritance.
This research aims to examine the regulatory compliance aspects of smart contracts within the Indonesian legal system using a Systematic Literature Review (SLR) approach. The review focuses on how smart contracts are recognized and regulated within Indonesia’s legal framework, the challenges related to consumer protection, their compatibility with traditional contract principles, and comparisons with international regulatory standards. From a total of 158 relevant studies, 50 articles were selected based on multi-layered search strategies, citation chaining, and relevance scoring. The findings reveal that while Indonesia has established a normative legal basis for recognizing electronic contracts, significant gaps persist in enforcement, legal clarity, and consumer protection. The implications of this review highlight the need for regulatory reform, the standardization of legal frameworks, and the integration of interdisciplinary approaches to secure the application of smart contracts within Indonesia’s growing digital economy.
Tujuan penulisan artikel ini untuk menyajikan analisis terhadap penerapan blockchain dalam pengembangan smart contract di Indonesia. Penulisan artikel ini didasarkan pada metode penelitian hukum normatif dengan pendekatan yuridis normatif (konsep dan perundang-undangan) dan yuridis kontekstual. Hasil penelitian menunjukan bahwa Validitas penerapan teknologi enkripsi (encrypted technology) antara lain blockchain dalam penggunaan smart contract di Indonesia Telah berkembang tidak lagi terbatas pada transaksi jual beli saja tidak serta-merta menghilangkan peran notaris Validitas smart contract berdasarkan peraturan perundangan yang mengatur tentang kontrak serta keterkaitannya dengan eksistensi notaris di Indonesia bahwa smart contract memiliki validitas hukum di Indonesia selama memenuhi unsur sahnya perjanjian sebagaimana diatur dalam Pasal 1320 KUH Perdata, oleh karena itu, dalam praktik hukum di Indonesia, penggunaan smart contract sebaiknya dikombinasikan dengan akta notaris, terutama untuk transaksi bernilai tinggi atau yang melibatkan kepemilikan dan hak atas benda
Purpose – This study aims to analyze the controversy surrounding cryptocurrency from the perspectives of Muhammadiyah and Nahdlatul Ulama (NU), focusing on their respective fatwas, the underlying juridical argumentation, and the social and economic implications of these religious rulings in Indonesia.Methodology – Employing a qualitative normative legal approach, the research conducts a comprehensive document analysis of official fatwas issued by Muhammadiyah and NU, complemented by secondary sources such as academic articles, news reports, and government regulations related to cryptocurrency in Indonesia.Findings – Both Muhammadiyah and NU consistently declare crypto-currencies haram (forbidden) primarily because of Islamic legal principles prohibiting gharar (excessive uncertainty), maisir (gambling), and the lack of state sanctions and consumer protection. While sharing this conclusion, the two organizations differ in their juridical methodologies, with NU exhibiting more contextual flexibility through internal debates and regional councils. Implications – The fatwas serves as authoritative guidance shaping Muslim consumer choices and government regulations, reinforcing Islamic ethical standards in financial transactions. However, they also create tension between technological innovation and religious compliance, posing challenges to fintech adoption and inclusive economic growth. The findings suggest the need for ongoing dialogue between scholars, regulators, and industry stakeholders to reconcile Sharia compliance with digital financial innovation.Originality – This study provides an original contribution by offering a comparative, in-depth analysis of the legal reasoning within the Muhammadiyah and NU fatwas on cryptocurrency, linking doctrinal argumentation to broader socioeconomic outcomes. It fills a gap in the existing literature that mostly catalogs fatwa content without examining their interpretive nuances and practical impacts in Indonesia’s unique socio-religious context.
The transformation of digital payment systems through blockchain technology has brought new challenges and opportunities in the development of secure, efficient, and decentralized crypto tokens. One emerging approach is the use of smart contract-based tokens, such as ERC-20 tokens running on the Ethereum network. This research proposes the design and implementation of the SDSPay (SDS) token as a prototype Ethereum-based ERC-20 token, with a modern smart contract approach to meet the needs of a more efficient and secure digital payment system. The SDS token adopts the basic ERC-20 standard but is equipped with advanced features that enhance functionality and security, such as role-based access control (RBAC) to regulate access and control over transactions, pauseable transactions to pause transactions if necessary, and compatibility with EIP-2612 permits that enable more efficient transaction authorization in terms of gas. These features are designed to improve the efficiency and security of transactions on blockchain networks, thus enabling the use of tokens in a more reliable digital payment system. The SDS token prototype was tested on the Sepolia Testnet using Remix IDE and MetaMask to develop and manage smart contracts. Additionally, a static security audit was conducted using Slither Analyzer to detect potential vulnerabilities. The test results showed that the SDS token was successfully deployed and performed well, with an average transaction time of 10–12 seconds and stable gas fees. The Slither audit also found no significant vulnerabilities, indicating that the smart contract structure adheres to security best practices. This study confirms that the development of standardized smart contract-based tokens can be carried out using an efficient, reliable, and replicable methodology for other applications in future blockchain-based payment systems. This implementation of the SDSPay (SDS) token can serve as a foundation for designing secure and efficient digital payment systems, paving the way for the broader development of blockchain technology.
This study aims to examine the legal gaps and regulatory challenges in enforcing criminal liability against perpetrators of crimes within Indonesia’s crypto ecosystem, particularly in the context of Decentralized Finance (DeFi), smart contracts, and decentralized digital asset trading platforms. The research employs a normative juridical approach using statutory and conceptual methods. The findings indicate that current criminal law instruments, such as Article 378 of the Criminal Code, Article 28 paragraph (1) of the Electronic Information and Transactions (ITE) Law, Law No. 8 of 2010 on the Prevention and Eradication of Money Laundering (TPPU), and Law No. 10 of 1998 on Banking, are inadequate to address the unique and complex characteristics of crypto-related crimes. These crimes are anonymous, cross-jurisdictional, and difficult to trace due to the absence of centralized authority. As a result, the existing legal framework fails to provide sufficient victim protection and leads to weak law enforcement effectiveness. This legal vacuum also hampers the state's ability to respond to the growing digital threats and creates legal uncertainty in the expanding crypto space. Therefore, this study recommends the formulation of specific criminal regulations that comprehensively define digital assets, legal subjects within decentralized systems, and new criminal offenses relevant to crypto-related conduct. It also calls for the establishment of specialized institutions dedicated to investigating and prosecuting such crimes. These proposed regulations are expected to strengthen the national criminal justice system, making it more adaptive, fair, and effective in addressing the challenges posed by digital transformation.
Perusahaan-perusahaan terinspirasi untuk berinovasi dengan munculnya teknologi digital. Salah satu cara mereka melakukannya adalah dengan menggunakan blockchain dalam platform kontrak pintar. Berasal dari mata uang kripto, teknologi ini memungkinkan eksekusi transaksi secara otomatis menggunakan kode yang diubah menjadi bahasa hukum. Untuk lebih memahami penggunaan teknologi blockchain dalam perjanjian komersial Indonesia, penelitian ini akan melihat kontrak pintar sebagai instrumen hukum digital dan validitas teknologi blockchain dalam mendukungnya. Untuk menganalisis ketentuan hukum yang relevan, penelitian ini menggunakan metode yuridis normatif. Temuan-temuan ini menunjukkan masa depan teknologi yang menjanjikan dalam merampingkan dan mempermurah proses transaksi. Agar dapat berfungsi sebagaimana mestinya dan memberikan perlindungan hukum yang memadai, implementasinya memerlukan perubahan hukum dan penerimaan masyarakat.
The advancement of digital technology has led to the emergence of virtual currencies, notably cryptocurrency, which are increasingly used as a means of payment in electronic commerce (e-commerce) transactions. Although gaining popularity among businesses and the public, the use of cryptocurrency as a payment method is not yet legally recognized in Indonesia. Law Number 7 of 2011 on Currency stipulates that the Rupiah is the only legal tender within the territory of the Republic of Indonesia. This study aims to examine the legality of cryptocurrency in e-commerce transactions and the legal protection available for businesses that use it. The research employs a normative juridical method with statutory and conceptual approaches. The findings indicate that although cryptocurrency has been acknowledged as a tradable commodity on futures exchanges through Bappebti regulations, it is not recognized as an official payment instrument. This creates legal uncertainty and potential legal risks for business actors. Therefore, more specific and integrated regulation is urgently needed to legally govern the use of cryptocurrency in Indonesia, in order to ensure legal certainty, consumer protection, and prevent misuse in digital economic activities.
Transformasi sistem hukum yang dipicu oleh perkembangan teknologi blockchain dan Web3 menuntut penyesuaian mendasar dalam sistem sertifikasi profesi hukum di Indonesia. Penelitian ini bertujuan untuk menganalisis kebutuhan reformulasi sistem sertifikasi profesi hukum dalam menghadapi tantangan era digital, dengan menggunakan pendekatan yuridis normatif dan metode kualitatif deskriptif melalui studi kepustakaan terhadap peraturan perundang-undangan, doktrin hukum, serta literatur yang relevan dalam bidang hukum dan teknologi. Hasil penelitian menunjukkan bahwa Indonesia belum memiliki kerangka regulasi yang memadai untuk mengatur isu-isu hukum baru seperti kontrak cerdas, yurisdiksi lintas negara, serta perlindungan data pribadi dalam ekosistem digital. Selain itu, masih terdapat kekosongan standar kompetensi hukum digital dalam kerangka sertifikasi profesi hukum yang ada saat ini. Temuan ini menggarisbawahi pentingnya pengembangan sistem sertifikasi profesi hukum yang terintegrasi dengan penguasaan teknologi digital terkini. Sertifikasi berbasis teknologi tidak hanya meningkatkan kapasitas teknis dan etika profesional hukum, tetapi juga memperkuat kepercayaan publik serta mendukung penerapan prinsip kenali nasabah dan pencegahan tindak pidana pencucian uang. Dalam jangka panjang, sistem ini akan mendorong lahirnya profesional hukum yang adaptif dan siap menjawab kompleksitas regulasi di era transformasi digital.
Perkembangan teknologi mendorong transformasi terhadap berbagai aspek kehidupan manusia, mencakup transformasi metode transaksi yang semula dilakukan secara konvensional kini mulai beralih kepada transaksi digital. Dompet elektronik hadir sebagai salah satu bentuk transaksi digital yang menawarkan kemudahan dan efisiensi dalam bertransaksi. Namun terdapat tantangan keamanan dan perlindungan data pribadi pengguna dikarenakan tingginya kerentanan kebocoran data di dalam aplikasi dompet elektronik. Artikel ini mengkaji regulasi perlindungan data pribadi di Indonesia dalam konteks keamanan transaksi menggunakan dompet elektronik menggunakan metode penelitian yuridis normatif. Penulis mengusulkan penerapan metode Zero-Knowledge Proof (ZKP) untuk meningkatkan perlindungan data pribadi pengguna layanan dompet digital. Untuk mendukung inovasi tersebut, diperlukan pembaruan regulasi, antara lain pembentukan otoritas pengawas independen (DPA), penambahan persyaratan persetujuan eksplisit atas transmisi data lintas negara dalam UU PDP, serta penyusunan regulasi teknis yang mewajibkan penggunaan ZKP sebagai bagian dari standar keamanan transaksi digital di Indonesia
Perkembangan teknologi informasi telah mendorong transformasi ekonomi digital yang ditandai dengan kemunculan cryptocurrency sebagai instrumen keuangan baru. Di balik manfaatnya, cryptocurrency juga menimbulkan tantangan serius dalam aspek hukum, khususnya terkait tindak pidana pencucian uang (TPPU). Penelitian ini bertujuan untuk menganalisis bagaimana hukum positif di Indonesia mengatur kejahatan ekonomi berbasis digital melalui cryptocurrency serta mengkaji modus operandi yang digunakan dalam praktik pencucian uang tersebut. Metode penelitian yang digunakan adalah metode yuridis normatif dengan pendekatan perundang-undangan, doktrin hukum, serta studi literatur. Hasil penelitian menunjukkan bahwa meskipun Indonesia telah memiliki regulasi terkait TPPU melalui UU No. 8 Tahun 2010 dan pengawasan oleh BAPPEBTI terhadap platform aset kripto, praktik pencucian uang berbasis cryptocurrency masih sulit dideteksi karena sifat anonim, desentralisasi, dan kompleksitas transaksinya. Modus yang umum digunakan meliputi tahapan placement, layering, dan integration, yang seringkali melibatkan pihak ketiga seperti mixer, tumbler, dan broker OTC. Oleh karena itu, dibutuhkan pembaruan regulasi dan peningkatan kapasitas pengawasan untuk mengantisipasi dan memberantas kejahatan ekonomi digital melalui cryptocurrency di masa mendatang.
This study discusses a cryptocurrency model that is in accordance with Islamic sharia principles. The study was conducted using a qualitative method involving interviews with experts in digital technology and Islamic finance, as well as secondary data analysis from various literatures. The results of the study show differences in the views of scholars regarding the permissibility of cryptocurrency, where some state it is halal, some are haram, and others are neutral. The elements that make cryptocurrencycontroversial in sharia include uncertainty, excessive speculation, and the absence of supporting assets. This study offers a halal cryptocurrency model that is free from gharar, maysir, has supporting assets, is under the supervision of sharia authorities, is transparent, safe, free from usury, and is supported by fatwas. This model aims to provide a halal alternative for Muslims in transacting using modern cryptocurrency technology.
Penelitian ini membahas kedudukan cryptocurrency dalam sistem hukum perdata Indonesia. Cryptocurrency adalah aset digital yang tidak berwujud namun memiliki nilai ekonomi dan dapat dialihkan. Hal ini menimbulkan pertanyaan mengenai pengakuannya sebagai benda dalam KUH Perdata. Sistem hukum Indonesia masih mendasarkan konsep benda pada bentuk fisik, sehingga belum mampu menjangkau keberadaan aset digital. Penelitian ini menggunakan pendekatan yuridis normatif, konseptual, dan komparatif untuk menelaah hal tersebut. Hasil penelitian menunjukkan adanya kekosongan hukum yang menghambat kepastian dan perlindungan hukum bagi pemilik cryptocurrency. Selain itu, belum terdapat mekanisme pembuktian kepemilikan dan penyelesaian sengketa yang efektif. Negara-negara seperti Jepang, Singapura, dan Uni Eropa telah lebih dahulu mengatur secara jelas aset digital ini. Oleh karena itu, pembaruan hukum perdata Indonesia sangat diperlukan untuk mengakomodasi perkembangan teknologi digital.
Gesa Bimantara, Tri Astuti Handayani, M. Aqiel Alam
This study examines the legal status and implications of Bitcoin ownership as a medium of exchange within Indonesia's evolving digital financial system. In light of persistent regulatory ambiguity, the research seeks to understand how legal uncertainty shapes the use and recognition of Bitcoin as a transactional asset. Employing a qualitative socio-legal approach, the study integrates doctrinal legal analysis with empirical findings obtained from in-depth interviews with cryptocurrency users, legal scholars, and financial regulators. The findings reveal that Bitcoin ownership in Indonesia lacks formal legal recognition, as there is no existing state-sanctioned registration system or institutional mechanism to validate cryptographic ownership. Instead, the private key remains the only accepted evidence of control and possession, creating a decentralized system of ownership that operates independently from conventional legal doctrines. Despite regulatory restrictions, Bitcoin continues to be used in informal peer-to-peer transactions, primarily driven by user preferences for privacy, decentralization, and efficiency. This disconnect between legal structures and technological realities generates vulnerabilities for users, particularly in cases involving fraud, inheritance, taxation, or contractual disputes, where no formal recourse exists. The research concludes that Indonesia’s legal framework remains ill-equipped to handle the complexities of decentralized financial assets, posing challenges to legal enforceability and consumer protection. The study recommends the establishment of a voluntary, state-recognized digital asset registration system, along with capacity-building initiatives for regulators. These measures aim to enhance legal certainty, bridge institutional gaps, and support the integration of blockchain-based assets into Indonesia’s formal financial and legal ecosystem.
The swift advancement of blockchain technology has introduced a transformative innovation known as smart contracts, which are self-enforcing, unchangeable computer programs for agreements. While these contracts offer benefits like efficiency and openness, their inherent qualities present major hurdles for protecting consumers, especially from the risk of inequitable terms being included. This study aims to deeply investigate the strengths and weaknesses of current Indonesian law in offering legal safeguards to consumers who use smart contracts for their transactions. Utilizing a normative juridical methodology with a statutory and conceptual framework, the research reveals several key findings. First, the essential features of smart contracts, most notably their unchangeable and self-enforcing nature, are in direct opposition to the adaptable and justice-focused principles of Indonesian contract law, like the doctrine of good faith. Second, although a foundational level of protection is offered by the Indonesian Civil Code (KUHPerdata), the Consumer Protection Law (UUPK), and the Law on Information and Electronic Transactions (UU ITE), substantial legal vacuums and difficult enforcement problems persist. Third, the research pinpoints specific ways unfair clauses appear as functions within the code and confirms that applying a purposeful interpretation of current legislation can help lessen their negative effects. In conclusion, this paper asserts the pressing requirement for creating specific legal rules and bolstering institutional supervision, especially by the Financial Services Authority (OJK), to ensure that consumer rights remain protected amidst the evolution of contractual technology.
Fatima Zohra Benali, Wildan Miftahussurur Miftahussurur, Rijal Ali Santos Santos, Zaenol Hasan
This study examines the application of qiyas (analogical reasoning) in assessing the legality of cryptocurrency within Islamic law, particularly through the fatwas issued by the National Sharia Council of the Indonesian Ulema Council (DSN-MUI). As cryptocurrency emerges as a significant innovation in the economic sector, the research analyzes classical fiqh texts and draws analogies with paper money to identify essential criteria for cryptocurrency to be considered a legitimate medium of exchange, including being valuable, pure, transferable, and beneficial. The findings indicate that while cryptocurrency lacks official backing, its value is derived from societal trust in blockchain technology. The study emphasizes the necessity for cryptocurrency transactions to comply with Sharia principles, avoiding elements of riba, gharar, and maysir. Additionally, it highlights the importance of collaboration among scholars, academics, and practitioners in Sharia economics to develop responsive fatwas and policies that address technological advancements and societal needs. Furthermore, to provide a broader perspective, examples from other countries, such as Malaysia, Algeria, and Morocco, can be referenced to understand how different Islamic authorities approach the regulation and assessment of cryptocurrency. For instance, Malaysia's Shariah Advisory Council has recognized cryptocurrencies under certain conditions, while Algeria has outright banned their use due to concerns over their volatility and speculative nature. Morocco, on the other hand, has issued warnings about the risks associated with cryptocurrency, despite the growing global interest in digital currencies. By examining these diverse approaches, the research can offer a more comprehensive understanding of how cryptocurrency fits within the frameworks of Islamic finance and law across different contexts. This research contributes to the discourse on integrating modern financial systems with Islamic principles, suggesting that cryptocurrencies can be utilized within Islamic economies if they adhere to Sharia guidelines. Ultimately, the study aims to provide practical guidance for Muslims in conducting economic activities in the digital era while leveraging technological progress to enhance welfare and prosperity.
This research aims to spread the implementation of blockchain technology in the digital financial sector through a literature study approach. The main issue raised is how blockchain is applied in financial services and what challenges and benefits come with it. The method used was a literature review of 18 relevant scientific articles. The analysis results show that blockchain has been implemented in four main categories, namely cryptocurrency, cross-border payments, decentralized finance (DeFi), and smart contracts. This implementation provides significant benefits such as transparency, cost and time efficiencies, and increased security. However, blockchain implementation still faces serious challenges such as regulatory ambiguity, scalability issues, cybersecurity risks, and low adoption by traditional financial institutions. This research suggests the importance of strengthening regulations, technical innovation, and increasing technological literacy to encourage broader and more effective blockchain implementation in digital financial systems.
The development of digital technology has encouraged the use of smart contracts as an instrument for automating agreements in Blockchain-based electronic transactions. In the context of Indonesian law, the validity of a smart contract must meet the legal requirements for an agreement, as regulated in Article 1320 of the Civil Code, which includes the agreement between the parties, legal capacity, a transparent object of the agreement, and lawful causes. Additionally, data verification in smart contracts is a key element in guaranteeing the security, authenticity, and transparency of e-commerce transactions, which is related to the provisions in the ITE Law and the PDP Law. This verification aims to prevent data manipulation, reduce the risk of fraud, and increase trust in transactions by using encryption technology, digital signatures, and Blockchain-based identity. Smart contracts can be considered valid if they fulfill the terms of the agreement and data security principles, making their use in e-commerce more effective and reliable.
David Hardiago, Rani Fadhila Syafrinaldi, Syafrinaldi, M. Musa · 5 authors
The advancement of science and technology continues to accelerate. Internet and its supporting technology became the backbone for many activities. This kind of advancement goes beyond territorial boundaries and human’s intelligence. This phenomenon triggers a new crime model. One of them is a crime related to the existence of Cryptocurrency such as money laundering, terrorism financing, and other forms of crime. This is understood given that Cryptocurrency give rise to large number of crimes as well as the emergence of a new modus operandi in several criminal acts. This is further supported by the lack of current Indonesian regulations that do not specifically accommodate the Cryptocurrency mechanism. The main issues raised in this study are related to how crimes and new modus operandi are caused by the Cryptocurrency mechanism against Indonesian criminal law, as well as how the mechanism of crime prevention and handling caused by the Cryptocurrency mechanism through the means of penal policy, covering targeted legislative amendments, specialised investigative units, prosecutorial guidelines, and asset-seizure procedures—to prevent and combat such crimes. This article uses normative method to answer the problem through comparative approach, case approach, literary approach and statutory approach. Initial hypotheses proposed to address these problems are: First, Cryptocurrency as a financial transaction mechanism that relies on the computational system with anonymous transactions opens a great opportunity for crime in the mechanism of the transaction. Second, the establishment of new rules in order prevent and combat crime and the modus operandi caused by the Cryptocurrency mechanism through the mechanism of penal policy are essential.
Di tengah pesatnya pertumbuhan teknologi digital dan Artificial Intelligence (AI), pencurian karya digital menjadi ancaman nyata yang meresahkan para kreator. Hal ini tidak hanya mengancam hak ekonomi, tetapi juga merusak integritas ekosistem kreatif. Penelitian ini menawarkan solusi inovatif: integrasi Non-Fungible Token (NFT) dan smart contract untuk perlindungan hak cipta di era digital. Dengan mengumpulkan 150 data dari platform media sosial X menggunakan metode web crawling dan analisis labeling, ditemukan bahwa mayoritas publik mendukung upaya perlindungan karya digital. Studi ini kemudian mensimulasikan pembuatan NFT dan implementasi smart contract di blockchain Polygon melalui OpenSea, membuktikan bahwa pencatatan kepemilikan berbasis teknologi dapat menghadirkan sistem perlindungan yang otomatis, transparan, dan tahan manipulasi. Hasil ini tidak hanya membangun jalur baru perlindungan hak cipta yang lebih adil dan efisien, tetapi juga menegaskan pentingnya adaptasi hukum di dunia digital. Temuan ini membuka cakrawala baru bagaimana teknologi blockchain dapat menjadi benteng pertahanan kreator di tengah dinamika digital yang terus berubah.
Cryptocurrency is a digital asset accessible to the public and utilized for legal and illegal activities. While it serves as a medium of exchange and is recognized as a legal payment method in some countries, it has yet to attain such status in Indonesia. Nevertheless, by mid-2021, the number of Cryptocurrency investors in Indonesia had reached 6.5 million, with transaction values totaling 370.4 trillion rupiahs—surpassing the 5.37 million capital market investors recorded simultaneously. This study explores the profiles of Cryptocurrency investors. It also uses purposive sampling and multiple regression analysis to examine how awareness and perceived ease of use influence their motivation to adopt cryptocurrency. The findings reveal that awareness and ease of use significantly affect adoption motivation. These insights contribute to a better understanding of consumer behavior in the context of Cryptocurrency adoption. Keywords: Crypto Currency, Profile, Awareness, Ownership Motivations Abstrak Cryptocurrency adalah aset digital yang dapat diakses oleh publik dan digunakan untuk kegiatan baik secara legal dan ilegal. Meskipun berfungsi sebagai alat tukar dan diakui sebagai metode pembayaran legal di beberapa negara, masih banyak negara yang belum mengadopsi Cryptocurrency sebagai metode pembayaran ilegal salah satunya adalah Indonesia. Meski demikian, pada pertengahan 2021, jumlah investor mata uang kripto di Indonesia telah mencapai 6,5 juta, dengan nilai transaksi sebesar 370,4 triliun rupiah melampaui 5,37 juta investor pasar modal yang tercatat secara serentak. Studi ini dilakukan untuk mengeksplorasi profil investor cryptocurrency. Ini juga menggunakan purposive sampling dan analisis regresi berganda untuk memeriksa bagaimana kesadaran dan kemudahan penggunaan yang dirasakan memengaruhi motivasi mereka untuk mengadopsi cryptocurrency. Temuan ini mengungkapkan bahwa kesadaran dan kemudahan penggunaan secara signifikan mempengaruhi motivasi adopsi. Wawasan ini berkontribusi pada pemahaman yang lebih baik tentang perilaku konsumen dalam konteks adopsi mata uang kripto.Kata kunci: Cryptocurrency, Profil, Kesadaran, Motivasi Kepemilikan