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Marking a pivotal point, Indonesias efforts underscore its drive to harness digital technologies for modernising payment systems while safeguarding financial stability and promoting inclusivity. Addressing interoperability, scalability, and security challenges, Indonesia sets a global example for nations exploring similar initiatives.
These projects leveraged distributedledgertechnology (DLT) to settle trades more quickly and securely, using delivery-versus-payment (DvP) mechanisms that reduce counterparty risk. Beyond technical proof points, these initiatives underscore the need for global interoperability.
This phase, part of the Immediate State of Project Garuda, focused on testing a distributedledgertechnology (DLT)-based wholesale cash ledger system to assess its feasibility, security, and compatibility with Indonesia’s financial ecosystem.
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