Cryptocurrencies are probably the most talked-topic right now across the world. Ocence hailed as the future of finance are still controversial. In Indonesia, crypto assets are gaining traction. Between January and May of this year, more than 6.5 million people bought or sold cryptocurrencies, according to the Ministry of Trade.
Despite being the largest economy in Southeast Asia prohibits, it prohibits the use of cryptocurrencies as a payment instrument but allows them to be traded as a commodity. In February 2019, Indonesia legalised the trading of bitcoin and crypto-assets as commodities. There are currently 13 licenced crypto marketplaces and 229 different types of crypto assets that can be legally traded.
The number of crypto investors has now exceeded that of stock traders, which reached 2.2 million in March of this year, according to the Indonesian Stock Exchange. Cryptocurrency assets have surpassed stocks as the most popular investment class in the country. Currently, 229 legal cryptocurrencies, including Bitcoin, can be traded on 13 platforms registered with the Futures Exchange Supervisory Board of the Ministry of Trade.
OpenGov Asia reported that Deputy Minister of Trade Jerry Sambuaga acknowledged that the development of the commodity market is complex, especially for the rapid growth of crypto-assets that requires the presence of regulatory tools and institutions that protect them.
The Head of the Fiscal Policy Agency, the Director-General for Financing and Risk Management and the Deputy Minister of Finance agreed on the increasingly complex development of the commodity market. There are matters of concern ranging from taxation to the impact on the national economy at large.
Recently, Indonesia is considering a move to tax cryptocurrency trades after a surge in local investor interest. The country has been searching for ways to boost state revenues in the face of the coronavirus pandemic, though a spokesman for Indonesia’s tax office said a cryptocurrency tax scheme was still being discussed.
A crypto exchange platform that claims to be the largest in Indonesia, said by April this year, the number of active members on its platform hit three million as the price of Bitcoin and other crypto-assets reached record highs. The membership has increased from around 2.3 million at the start of the year. Cryptocurrencies have been rallying in recent weeks, with some smaller ones, such as Dogecoin, increasing by more than 700% in the last month.
Cryptocurrency mining and staking income is ordinary income for tax purposes. Cryptocurrency mining, and its staking counterpart, is a service that computers provide to a cryptocurrency blockchain network. The owners of these computers typically receive cryptocurrency from the network in exchange for their services. For instance, if a person owns a computer that performs cryptocurrency mining or staking, that person would typically receive cryptocurrency in exchange for these services and would pay tax on that cryptocurrency to the IRS. The payment in cryptocurrency is taxable income, just as if the person had been paid in dollars to perform the same services for the network.
Some people trade cryptocurrencies for profit. Trading crypto is very similar to trading stocks and other securities, so many of the same tax rules apply. Crypto traders must pay capital gains taxes on the profits they earn.
In a context of political or economic instability, or amid fears related to currency debasement, cryptocurrency constitutes a relatively safe asset. Thus, while for consumers from developed economies crypto is a largely speculative investment, for some investors in emerging economies it constitutes a more reliable option than traditional currency.
Science, engineering, technology, and innovation give people the power to develop a country and its quality of life. Investment in these areas is vital for economic growth and social progress.
Research and development in smart tech can help build greener cities with better access to essential systems and services for all. Moreover, infrastructure development, technology transfer and public and private R&D must be supported and regulated by good policies if they are to work.
To ensure scientific progress is encouraged and embraced at all levels of government decision-making, the Academy of Sciences Malaysia (ASM) is tasked with giving strategic advice to the government and stakeholders, as well as pursuing excellence in science, engineering, and technology for the benefit of everyone.
Malaysia’s S.E.T.I. Initiatives
One of the contributions of the ASM is to incorporate interactive learning of STEM into the pedagogy of education in Malaysian schools. “To see the performance and results, inquiry-based science education (IBSE) will create an interactive learning environment in the physical classroom. Therefore, we want to have this kind of ecosystem and environment in schools.”
She is eager to see more collaboration between tertiary education and industry so that any courses and curricula provided by universities are both industry-required and future-proof. This is why their organisation is working with the government to create collaboration between industry and academia. “I believe that will help us advance more.”
ASM is currently working with the Malaysian government, in particular the central agency, to begin evaluating public decision-making universities based on data. Hence, using facts, metrics, and data to inform strategic business decisions that align with goals, objectives, and initiatives is the most effective data-driven decision-making.
Making data-driven decisions the norm within an organisation is necessary to foster a climate that values scepticism and curiosity. “Data is the starting point of conversations at every level, and people improve their data skills through practice and application,” says Hazami.
At its core, this calls for a self-service model where users can access the data they require while maintaining a balance between security and governance. Additionally, it necessitates proficiency, resulting in opportunities for training and development for workers to acquire data skills.
Additionally, ASM has developed a Responsible Conduct of Research module which acts as a benchmark to have this code of ethics in research taught to all graduates, whether they are in hard sciences or the social sciences.
“We want that because every piece of knowledge we incorporate in the future will be based on good science and value. Therefore, we must consider bioethics, biosecurity, and training modules on ethics in research,” Hazami explains.
ASM has recently directed its scientists to provide solutions in close collaboration with the ministries. Citing as an example is their committee on water, energy, health, agriculture, and biodiversity (WEHAB++). For instance, when Malaysia faces issues such as the price hike for chicken feed which causes societal dissatisfaction, solutions to food security issues such as this can be provided by the Academy’s expert network through science and technology directly to the government and stakeholders.
In addition to providing policies and strategies to decision-makers, the ASM also teaches them how to carry out those policies and strategies by applying their knowledge.
Hazami highlighted the growing movement called “Open Science” which aims to open scientific data and research to the public. In addition to democratising knowledge, the international principle of making research data findable, accessible, interoperable, and reusable (FAIR) will support open scientific inquiry and integrity, facilitate improved research management, and encourage data-intensive research.
Unprecedented insights and solutions to local, regional, and global complex challenges are made possible by integrating numerous data streams and enormous datasets across numerous disciplines.
Through the Malaysia Open Science Alliance, the Ministry of Energy, Science, Technology, Environment & Climate Change (MESTECC), now known as the Ministry of Science, Technology, and Innovation (MOSTI) and the ASM are laying the groundwork for the realisation of the Malaysia Open Science Platform (MOSP), a strategic transformative project to strengthen Malaysia’s STI Collaborative Ecosystem.
“The Malaysia Open Science Platform or MOSP aims to connect raw research data, then collaborate and share,” Hazami explains. “By creating a reliable platform that enables accessibility and sharing of research data aligned to national priorities and international best practices, this initiative seeks to transform Malaysia’s research data into a valuable national asset.”
Hazami is passionate about science and technology because it has the power to change the nation. “I’m attempting to make a change, and one of those changes is in the area of science and technology.”
For her, the most meaningful contribution in her 26 years in the academy was when the government accepted 80% of their recommendations for transforming and creating change and an ecosystem. “For now, our current areas of focus are strengthening governance, the innovation ecosystem and the sustainability of R&D funding.”
A change in paradigm towards a growth mindset among policymakers, scientists and the younger generations is her greatest challenge and greatest passion. She believes that when decision-making is based on data, it can provide the best solution possible.
Hazami strongly believes that Malaysian women are more than capable of pursuing careers in science and technology. They hope to have a strong support network to help them succeed in those fields, whether as practitioners or scientists.
“Our goal is flexibility. We need to have an open work environment and open innovation because we can work from home as researchers and scientists. We are more adaptable now. If we can accomplish this, more and more women will contribute to the workforce more effectively,” she says emphatically.
By reaching out to the top management and demystifying technical terms, OpenGov Asia, a steadfast supporter of Malaysia’s digital transformation journey and an advocate for citizen-centric development, will continue to help bring about change. Hazami concludes by urging top leaders to practice a growth mindset for the betterment of the country.
Hazami strongly believes that over the course of the next five years, ASM will continue to serve as a catalyst for change and create the science, technology, innovation, and economy (STIE) ecosystem for the entire nation towards the full potential of digital transformation, including the Malaysian transformation and the humanisation of the economy. “Leaders’ courageous decisions pave the road to successful digital transformation.”
The Institute for Digital Molecular Analytics and Science (IDMxS), which aims to promote the science of analysing biological molecules (biomolecules) using information technology and data science, was recently established by Nanyang Technological University, Singapore (NTU Singapore). This could pave the way for real-time environmental or health data monitoring and analysis, like how real-time traffic data can be obtained on mobile devices.
IDMxS, NTU’s newest national Research Centre of Excellence (RCE), is funded with a total investment of over S$160 million over 10 years, with the majority coming from NTU and the National University of Singapore and S$94 million coming from the Singapore Ministry of Education.
Digital molecular analytics, a novel scientific discipline that analyses individual molecules to discover, identify, and measure biomolecules with extraordinary accuracy, is at the core of the work done at IDMxS.
Such a science will open many new areas of research, such as the creation of diagnostic testing capabilities that may then inspire the creation of new technologies and commercial spinoffs, including blood testing kits that can generate findings instantly using nothing more than a smartphone camera.
The interdisciplinary centre is anticipated to house 100 full-time researchers and employees with backgrounds ranging throughout the spectrum of engineering and science, from optics, computer science, and artificial intelligence (AI) to biology, medical technology, and chemistry.
Postgraduate students from NTU will have exceptional chances for interdisciplinary education and training that spans the molecular sciences and information technology through the graduate programme of IDMxS. More than 30 PhD students will receive support from the Centre, four of whom have already begun their studies. As clinical diagnostics become more digital, IDMxS will also create continuing education programmes aimed at developing and modernising the healthcare workforce.
By fusing the fields of biology and information technology – which have each recently undergone revolutionary changes – IDMxS will create the new science of digital molecular analytics. The objective is to develop tools that can track environmental data, such as air and water quality, and health information, like viral infections or molecular signatures that signal the existence of a disease, in real-time. To develop innovative solutions for issues with health, sickness, and environmental monitoring, this process begins with the development of fundamental science.
The ability to simultaneously gather a variety of data types from a biological sample and use tools like AI and machine learning algorithms to analyse and interpret the enormous volume of data that would otherwise be impossible for humans to make sense of is at the core of IDMxS’ digital molecular analytical strategies. The research centre intends to someday spin out solutions like widely used software using digital molecular analytics.
Moreover, making blood sample test kits is one potential use for digital molecular analytics that IDMxS is investigating. The goal of this research is to create a tool that can recognise the various chemicals responsible for illnesses, infections, and diseases.
This suggests that a physician might someday be able to take a blood sample, analyse it with a smartphone camera, and obtain an accurate, real-time reading next to the patient at the doctor’s table. A similar idea might do away with the necessity for additional time-consuming laboratory tests.
The extensive surveillance of illnesses spread by insects like dengue and malaria is another project that is now under development. Researchers can one day create an imaging system that can swiftly detect and monitor dengue among the mosquito population by recognising and analysing the chemicals that make up the dengue virus. Such studies might also be used to track other airborne infections and infectious diseases, in addition to insect-borne diseases that affect urban health.
In a bid to become a digital airline, the Vietnam Airlines Engineering Company Ltd (VAECO), a subsidiary of Vietnam Airlines, has signed a cooperation agreement with private players to deploy an aircraft maintenance and engineering management software system. Under the agreement, the system will provide technical management tools, manage the maintenance programme more closely, and more efficiently synchronise data. This will contribute to reducing maintenance costs and time, improving the operational readiness factor for the fleet.
The software also provides tools for planning, controlling maintenance procedures, and managing human resources to optimise production processes. It will minimise labour costs for recording and data entry and work control, leading to an overall increase in labour productivity, by an estimated 15-20%
The software provides synchronous information about failure status, maintenance history, and the status of spare parts. This enables technicians to make effective and timely repair decisions. It is expected to reduce flight stoppages, delays, and cancellations.
Furthermore, the system will shorten the aircraft maintenance time and create favourable conditions for the airline to concentrate human resources to expand the outside maintenance market share. The Deputy General Director of Vietnam Airlines, Nguyen Chien Thang, noted that the new technology will make an important contribution to helping VAECO become a leading aircraft maintenance service provider in the region while accelerating digital transformation.
Currently, Vietnam Airlines is the airline with the largest fleet in Vietnam, with more than 100 aircraft including Boeing 787, Airbus A350, A321, A321neom, and ATR72. The airline is constantly modernising its fleet, as well as improving its aircraft maintenance capacity and mastering new technologies.
In January, the airline launched two e-commerce platforms VNAMAZING, VNAMALL as well as its Vietnam Airlines Gift Card. The services were the first of their kind in the domestic aviation sector. VNAMAZING offers online tourism services including tour and accommodation bookings. VNAMALL provides a wide range of aviation and non-aviation goods and services.
As OpenGov Asia reported, the Vietnam Airlines Gift Card is a product available on VNAMALL, which can be used to exchange airline tickets or avail of business class upgrade benefits on flights operated by Vietnam Airlines, Pacific Airlines, and VASCO. An official from Vietnam Airlines said that the airline considers e-commerce development one of its top priorities.
In August, the carrier announced that passengers using the airline’s air service can now access a free-of-charge news-reader application called PressReader for Vietnamese and international publications. The application provides more than 7,000 digital newspaper and magazine titles available in over 70 languages. According to Vietnam Airlines, passengers can use the application 24 hours before the scheduled departure time and 24 hours after landing.
To use the app, passengers must download the Vietnam Airlines app, choose the PressReader button, and verify their booking code and flight information. Articles can be read online or downloaded for offline reading.
Most recently, Vietnam Airlines launched an online check-in service for passengers departing from Phu Bai airport in the central province of Thua Thien-Hue. The move increases efficiency and improves customer experience and convenience. Passengers are now able to check in via the official portal or the Vietnam Airlines application within 24 hours to one hour ahead of departure.
The seven best smart cities in Indonesia were announced at the Ministry of Communication and Informatics seminar and exhibition on the Movement Towards Smart Cities (Smart City) in 2022 in Jakarta. Representatives from 141 regencies attend the event in a framework for evaluating the implementation of the Smart City 2022 program.
District/city officials who have succeeded in developing a master plan under the Smart City development in their respective regions attended. The session was organised to showcase the commitment of all regional leaders so that the community see the benefits and progress, said Bambang Dwi Anggono, Director of Government Information Application Services (LAIP) of the Ministry of Communication and Information.
The five best cities and two districts took the Smart City award in the following categories:
- Smart Governance: City of Bandung,
- Smart Branding: Surakarta City,
- Smart Economy: Semarang City,
- Smart Society: City of Yogyakarta,
- Smart Living: Demak Regency,
- Smart Environment: Madiun City, and
- National Priority Tourism Area: Wonogiri
The Smart City initiative is a strategic step toward addressing development plans holistically. The programme aims to harmonise regional government sectors and regional initiative programmes with other regional governments, the central government, the business world, and even other countries. Local governments can work together with other local governments, businesses, academia, and the general public to launch various initiatives that will have a positive impact.
The Smart City Movement aims to guide regions and cities across Indonesia in designing digital-based development that considers each region’s potential and challenges. Furthermore, the Smart City programme can bring innovations from Jakarta to other areas, ensuring an even distribution of development programmes.
The Ministry of Communication and Information has facilitated interconnection with relevant parties in the Smart City development. In addition, the Ministry, through the LAIP Directorate, intends to include 50 regencies/cities in the Smart City master plan assistance in 2023.
“We hope that regional leaders (regents/mayors) will have the courage to innovate and make breakthroughs for the good of society. Correspondingly, we encourage regional heads to become change agents in these breakthroughs (SPBE),” said Bambang Dwi Anggono.
The Ministry intends to implement Smart Province next year. The Smart Province programme will select two provinces in 2023 to prepare the master plan. Smart Province development conceptualises development innovations at the provincial level and coordinates Smart City development at the district level within its jurisdiction. Two provinces will be selected to help prepare the master plan.
Semuel Abrijani Pangerapan, Director General of Informatics Applications at the Ministry of Communication and Information, emphasised the importance of digital transformation as a foundation for building smart cities.
“Creating a Smart City begins with digital transformation; from there, every local government understands what is required. Because each Regional Government has unique characteristics. But, in the end, everything will point to the holistic Smart City that we taught,” he was quoted as saying.
He also stressed the importance of creating a master plan for the long-term development of Smart Cities as establishing a smart city would take 15 to 20 years. As a result, the Ministry has created a programme to educate local entities on constructing a Smart City.
The Ministry of Digital Economy and Society (MDES) has sped up the development of technology to keep up with the fast changes in the economy, society, and way of life. This is especially important for the year 2023 when people’s activities around the world are expected to rely more on digital systems, such as finances, business, information management, transportation, and many other things.
The Digital Post ID was recently introduced by Chaiwut Thanakmanusorn, Minister of Digital Economy and Society (DES). The system is currently undergoing testing by the necessary organisations and is anticipated to be implemented by 2023.
The government agency is making strides to improve digital innovation infrastructure. According to the Digital Economy Promotion Master Plan (2018 – 2022), there is a proposal to alter the form of addressing information into a digital address, known as Digital Post ID by designating the Thai Post Office as a regulating body.
The MDES runs projects to improve Thailand’s delivery system, which has been based on five-digit postal codes for more than 40 years. This is done by making it easier to find people in Thailand with a digital 1post ID code that can be turned into their address coordinates down to the household level.
To facilitate having a digital post ID In the future, post offices or logistics providers will have QR code label printers that digitally affix a post ID to parcels or envelopes. Personal information will not be displayed on the box or envelope’s address, so both the recipient and sender may rest assured that their privacy will be protected.
The application must be installed on the device to scan the QR Code and display the sender-recipient information, and the QR Code has a single usage. In addition, access to various information is restricted in accordance with the Personal Data Protection Act 2019 principles. In addition, it will ensure the purchase of e-Commerce products more because it may connect the delivery routes.
The Digital Post ID service provided by Thailand Post is an extremely helpful one that helps to maintain the safety and confidentiality of the documents owned by individuals. In addition, Thailand is rapidly embracing digital technology, and the country is becoming increasingly well-connected. With a population of over 69 million, the country is home to a wide range of Internet users, and digital technology is growing rapidly.
The Thai government has been proactive in promoting digital technology and has implemented several initiatives to help the country keep up with the rest of the world. This includes increasing access to high-speed Internet, encouraging digital literacy, and investing in the development of digital infrastructure.
The government has also been encouraging the use of mobile phones, tablets and laptops. These devices are becoming increasingly popular and are being used by people of all ages to access information and services.
The Thai government has also been investing in the development of cloud computing services. This has enabled businesses in the country to store their data securely and access it quickly and easily. Cloud computing has also enabled businesses to reduce their costs, as they can access services without having to invest in physical infrastructure. Furthermore, the Thai government is promoting the development of e-commerce and online payment systems
The Infocomm Media Development Authority (IMDA) announced the launch of a S$5 million Virtual Production Innovation Fund to support the local media industry in developing the capabilities needed to harness virtual production technology to maintain the local media industry’s competitiveness as the international partner of choice to create premium IP.
To enable the camera to capture actors and visual effects in real time, virtual production technology uses LED panels to produce realistic background landscapes for television or movie sequences driven by video game engines. The site, road closures, location costs, permits, weather, set construction, and space rental will no longer be necessary for production.
With the help of technology, Singapore has a rare chance to get over some of its physical constraints, like the lack of suitable locations for on-location filming and room for large sets.
The ability of the storytellers to reproduce historical sites or any other environment will allow them to generate content that was previously impossible. This will revolutionise the creative process of storytelling.
The adoption of virtual production by the media sector is further encouraged by the strong signals emanating from international media giants that this technology will be widely employed in the creation of movies and television shows and will become the standard in the next years.
To strengthen capabilities in virtual production and ensure that the media companies and talent can keep up with international production methods to remain competitive, IMDA will pursue a two-pronged strategy to prepare the media sector for the future.
The National Film and Television School (NFTS) in the UK has collaborated with IMDA to adapt the school’s Certificate in Virtual Production course to the requirements of the sector to train media professionals to use this technology.
From December 2022 to April 2023, fifteen professors, trainers, and media professionals from Singapore will participate in virtual lectures and undergo hands-on training at NFTS’s virtual production facilities.
Over the course of the following 12 months, several masterclasses and workshops given by professionals from the business will be offered. A Singapore-based firm that specialises in developing immersive experiences, held a display to exhibit how virtual production can enhance imaginative storytelling.
Hands-on demonstrations will be given by guest speakers from virtual production leaders. They will discuss and explore best practices in the workflow to inventive ways to use different technology in storytelling.
Local businesses can also test out virtual production to realise their creative ideas for brief pieces of content, such as music videos, short films, and brand advertisements, among others. Companies can submit their suggested content concepts from now until February 15, 2023.
The capacity to best utilise virtual production technologies to realise a project’s creative vision will be taken into consideration while evaluating proposals.
Additionally, IMDA is working to organise an industry challenge with an internationally renowned gaming company. This challenge will encourage organisations to experiment with and use the cutting-edge real-time 3D creation tool developed by this gaming company. Currently, the aforementioned tool powers globally popular video games.
Teams whose concepts are shortlisted will receive personalised coaching and training from the gaming company. In addition, they will receive prize money from IMDA to assist with content creation.
Since virtual production technology has advanced in recent years, the country is now able to produce visual effects in real-time without building actual sets, thereby overcoming the constraints of scale, complexity, and space.
India will Chair the Global Partnership on Artificial Intelligence (GPAI), an international initiative to support the responsible and human-centric development and use of artificial intelligence (AI).
The Minister of State for Electronics and Information Technology (MeitY), Rajeev Chandrasekhar, represented India virtually at the GPAI meeting held in Tokyo for the symbolic takeover from France, which is the outgoing Council Chair.
Chandrasekhar stated that the country would work in close cooperation with member states to put in place a framework to fully exploit the power of AI for the good of consumers across the globe. This means ensuring there are adequate guardrails to prevent misuse and user harm.
According to the Minister, India is building an ecosystem of modern cyber laws and frameworks based on three principles: openness, safety, and trust and accountability. With a National Programme on AI and National Data Governance Framework Policy (NDGFP) in place as well as one of the world’s largest publicly accessible datasets programmes in the works, the Minister reiterated India’s commitment to using AI to catalyse innovation and create good, trusted applications.
The NDGFP strives to ensure equitable access to non-personal data and improve institutional frameworks for government data sharing, promote principles around privacy and security by design, and encourage the use of anonymisation tools. It also aims to standardise the way the government collects and manages data. The NDGFP along with an envisaged Indian Data Management Office (IDMO) shall catalyse the next-gen AI and data-led research and startup ecosystem.
Through the datasets programmes, anonymised non-personal data will be available for the entire AI ecosystem. The AI market globally was nearly US$ 59.67 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 39.4% to reach around US$ 422.37 billion by 2028. With the rapid growth of AI and machine learning (ML), experts predict that most businesses will shift to AI-powered systems, apps, security systems, data analysis, and other applications in the future. AI is expected to add US$ 967 billion to India’s economy by 2035 and US$ 450–500 billion to India’s GDP by 2025, accounting for 10% of the country’s US $5 trillion GDP target.
A government official outlined India’s priorities as Chair GPAI next year, stating that the country would focus on promoting greater involvement of the global south in the conversation regarding the use of AI for solving societal problems. The country has also emphasised the need for the responsible and ethical use of AI.
GPAI is a congregation of 25 member countries, including the United States, the United Kingdom, the European Union, Australia, Canada, France, Germany, Italy, Japan, Mexico, New Zealand, the Republic of Korea, and Singapore. In 2020, India joined the group as a founding member. It is a first-of-its-type initiative that aims to better understand the challenges and opportunities around AI. It works in collaboration with partners and international organisations, leading experts from industry, civil society, governments, and academia. These stakeholders collaborate to promote the responsible evolution of AI and guide the development and use of the technology, grounded in human rights, inclusion, diversity, innovation, and economic growth.