Lisk, a prominent Ethereum Layer-2 solution, has recently partnered with an Indonesian government-run startup initiative to launch a Web3 program called Ignit3. Unveiled during Coinfest Asia 2024 in Bali, this program aims to be the first government-backed Web3 initiative in Indonesia. Through this partnership, Lisk will work with Gerakan Nasional 1000 Startup Digital to support and nurture the local Web3 startup ecosystem by providing mentorship, resources, and networking opportunities. Dominic Schwenter, the COO of Lisk, believes that this collaboration will empower developers, enhance financial inclusion, and create a strong crypto community in the region.
In recent years, Indonesia has seen significant growth in its crypto and Web3 ecosystem, with the government demonstrating positive support for their adoption. For example, the Commodity Futures Trading Supervisory Agency of Indonesia (Bappebti) announced plans to transfer crypto asset supervision to the Financial Services Authority (OJK) starting in January 2025. Additionally, there is a growing interest from the Indonesian government in exploring blockchain applications across various sectors. The Financial Services Authority (OJK) has established a regulatory sandbox to encourage innovation in Web3, with 97 companies registered as of November 2023, according to the Indonesia Crypto and Web3 Report 2023.
Lisk’s collaboration with Gerakan Nasional 1000 Startup Digital and the launch of Ignit3 underscores their commitment to advancing Web3 innovation in emerging markets. This partnership aims to not only empower developers but also promote financial inclusion and build a strong crypto community in Indonesia. Lisk’s recent partnership with Backed Finance further demonstrates their efforts to accelerate the adoption of real-world assets (RWA) in emerging economies through various applications. By working with government-supported initiatives like Ignit3, Lisk is contributing to the growth and development of the Web3 ecosystem in Indonesia.
The Indonesian government’s proactive stance towards crypto and Web3 regulation and adoption reflects a broader trend of increasing interest and support for blockchain technology in the country. With initiatives like the regulatory sandbox established by the Financial Services Authority (OJK), Indonesia is positioning itself as a hub for innovation in Web3. By fostering a supportive environment for startups and entrepreneurs in the crypto and blockchain space, Indonesia is paving the way for future growth and development in this emerging industry. The collaboration between Lisk and Gerakan Nasional 1000 Startup Digital is a testament to the potential for partnerships between the private sector and government initiatives to drive innovation and progress in the Web3 space.
Overall, the partnership between Lisk and Gerakan Nasional 1000 Startup Digital to launch Ignit3 represents a significant development in the advancement of Web3 innovation in Indonesia. By providing support, resources, and mentorship to local startups in the Web3 ecosystem, this initiative has the potential to accelerate the growth of the crypto and blockchain industry in the region. With the Indonesian government’s increasing interest and support for blockchain technology, the collaboration between Lisk and government-backed initiatives like Ignit3 demonstrates a commitment to fostering innovation and entrepreneurship in the Web3 space. As the crypto and Web3 ecosystem continues to evolve in Indonesia, partnerships like this will play a crucial role in driving progress and expanding opportunities for developers and entrepreneurs in the region.
