Governor of the Indonesian Province of West Java, Ridwan Kamil and prominent Bitcoin global advocate and JAN3 CEO Samson Mow, revealed in a fireside chat titled “The Indonesia Bitcoin Mining Campaign” that the government of Indonesia is researching various ways in which bitcoin adoption in the country could benefit its people.

Governor Kamil explained the specific environment that makes Indonesia a potential major player in the bitcoin mining space, saying “[Indonesia has] the second most geothermal potential in the world — more than 800 rivers with hydropower. As bitcoin allows the transformation of energy into money, bitcoin could be transformative for indonesia”

He also explained that the country is already on a steady path towards adoption, with more than 12 million cryptocurrency investors, 70% of which are invested in bitcoin. According to Governor Kamil, this number grows by half a million a year.

In addition, the Governor touched on how bitcoin could bring financial technology to people in his country who currently do not have access to that. “Bitcoin is a solution in my opinion to unbankable parts of my society,” he explained. “40% of my people are unbankable.”

Another topic touched on was the recent introduction of an Omnibus bill that allows for 100% foreign investment into renewable energy projects above 1 MW. This bill could lead to increased investment and attention in the region. “Come to indonesia, lets have this big reserve of renewable energy dedicated to the bitcoin mining business,” Governor Kamil said.

Mow touched on the opportunity at hand for Indonesia, saying that “The first [countries] that adopt bitcoin in a meaningful way will have a big advantage.” Afterwards, Governor Kamil inquired about the way that El Salvador’s bitcoin bonds function. Mow replied that “The bonds can finance the buildout of new energy infrastructure … Indonesia could have a volcano bond too.”

Overall, the talk indicated that Governor Kamil is cautiously optimistic, and that he sees bitcoin as a potential game changer for the economy of his country and the livelihood of his people. As a country with access to major amounts of renewable energy and large portions of the population unbanked, it is seemingly ripe for bitcoin adoption.

“The new generation is buying Bitcoin as a reserve,” Governor Kamil concluded. “Hopefully Indonesia will be a Bitcoin heaven in the future.”

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On Friday Florida’s governor Ron DeSantis signed legislation that bans the use of a central bank digital currency (CBDC) in the state. Following the bill SB 7054 being signed into law, Florida’s Uniform Commercial Code (UCC) now explicitly forbids the use of a federally adopted CBDC as money.

Florida Puts the Brakes on CBDCs

The Sunshine State has officially outlawed the use of a central bank digital currency (CBDC) following the approval of SB 7054 or HB 7049 by the Florida House of Representatives and Senate. Governor Ron DeSantis put pen to paper and signed the bill, cementing the ban on Friday. The signing ceremony, which took place in Fort Myers, was attended by Wilton Simpson, the state’s 13th commissioner of agriculture, and Kathleen Passidomo, president of the Southwest Florida Public Service Academy at Fort Myers Technical College.

The new anti-CBDC law will come into effect on July 1, 2023. “They’re going to be able to have the window into what you’re doing with the money and the ability to control where that money is going,” DeSantis said during the signing ceremony. “They could block, if you filled up your gas tank too much, hey, they’re fighting global warming, ‘You can’t do any more.’ Maybe you bought a firearm last week. They don’t want you to buy another one this week.”

Several GOP lawmakers, including Tom Emmer and Ted Cruz, have introduced bills opposing the use of CBDCs. Governor DeSantis is urging other politicians and states to follow Florida’s example and take a stand against CBDCs. However, not everyone is on board with this decision. Nobel laureate and Keynesian economist Paul Krugman criticized DeSantis, stating that it’s “highly unlikely that a state government would have the right to prohibit” the use of a CBDC.

While some Republican state leaders are opposed to CBDCs, others are more welcoming. Surprisingly, Democratic senator Elizabeth Warren of Massachusetts, who is known for her strong stance against corruption in the banking industry, is in favor of CBDCs. In a recent interview with NBC’s Chuck Todd, Warren expressed her support for CBDCs, stating that “it’s time for us to move in that direction.”

Governor DeSantis, on the other hand, remains resolute in his belief that CBDCs pose a threat to Florida’s financial stability and is determined to lead the charge against them. “I’m just glad we are thinking ahead here in the state of Florida because once this genie is out of the bottle, I think it will be very hard to put back in,” DeSantis said in Fort Myers. There is a widespread belief that DeSantis has his sights set on the White House and will be running for president of the United States in the 2024 election.

What are your thoughts on Florida’s decision to ban the use of central bank digital currencies (CBDCs)? Let us know what you think in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 7,000 articles for Bitcoin.com News about the disruptive protocols emerging today.