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Indonesia

200,000 transactions per day will need a separate front end in front of some meaty servers, if it's even a good idea.
 
AlM said:
200,000 transactions per day will need a separate front end in front of some meaty servers, if it's even a good idea.
Click to expand...
Perhaps, but they'll have to be posted and stored somewhere in the system. And since these executions are not supposed to be a secret, obviously, all we'd need is a link to where they're stored and then those that are interested can go there and look / watch / burn our eyes out. 🤪
 
The other way is to assume that there are roughly 100 transactions per day currently.

Say these double weekly.

We safely reach 200,000 per day by March
 
Indonesia securing its ownership rights over critical metals & their production.

This allows increased revenues from higher up the value chain, not simply by mining & exporting. Really important for the development and security of the country:


www.canadianminingjournal.com

Vale Canada’s Indonesia equity sale paves the way for billions in investment

A Canadian unit of Vale Base Metals, Vale’s (NYSE:VALE) copper and nickel spinoff, has agreed to sell a 14% stake in Vale Indonesia (PT […]
www.canadianminingjournal.com www.canadianminingjournal.com
 
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I suspect that many of the round figure transactions might be vouchers issued by MetalGo for prizes at their latest sponsored fun run. It looks like there were a large number of participants. Here’s the latest video featuring the fun run and many people waving vouchers around. I think 250,000 IDR is equivalent to roughly 0.25 KAU.
 
Gary L said:
I suspect that many of the round figure transactions might be vouchers issued by MetalGo for prizes at their latest sponsored fun run. It looks like there were a large number of participants. Here’s the latest video featuring the fun run and many people waving vouchers around. I think 250,000 IDR is equivalent to roughly 0.25 KAU.
Click to expand...

This checks out.
 
Gary L said:
I suspect that many of the round figure transactions might be vouchers issued by MetalGo for prizes at their latest sponsored fun run. It looks like there were a large number of participants. Here’s the latest video featuring the fun run and many people waving vouchers around. I think 250,000 IDR is equivalent to roughly 0.25 KAU.
Click to expand...
Exactly....

1700661132031.png
 
Gary L said:
many people waving vouchers around.
Click to expand...
Good promotion!

At 2:10,
Physical gold vouchers with a total of IDR 50 million.

At 2:28,
I got the voucher from MetalGo, R50,000
~$3.2 or ~0.05 KAU

At 2:55
voucher for 250,000 shown
As Gary said, ~0.25 KAU

The total value of the vouchers should be ~50 KAU, with perhaps something like 500 of them if the average value was R100k.
 
Does anyone know what the final numerical goal is for users in Indonesia? 10% of the population? Roughly 27,000,000? Has Kinesis staff mentioned this?
 
dehsur said:
Does anyone know what the final numerical goal is for users in Indonesia? 10% of the population? Roughly 27,000,000? Has Kinesis staff mentioned this?
Click to expand...
i do not remember any specific number being mentioned but the feeling i have is the government wanted as many people as possible to own some gold - a bit like in China where gold ownership is encouraged. So i think they are aiming for a good deal more than 10%.
 
sixgun said:
i do not remember any specific number being mentioned but the feeling i have is the government wanted as many people as possible to own some gold - a bit like in China where gold ownership is encouraged. So i think they are aiming for a good deal more than 10%.
Click to expand...
Ok. I didn't know that the government was aiming for a large swathe of the population.
 
100m plus plus plus

In the next few years potential new sales in Indonesia may exceed those in China, even in absolute MT terms because:
1. China is likely much nearer the point of ownership saturation, given that the government liberalised ownership by its citizens in 2001;
2. 2001 merely added to a decades-long tradition in China of saving about 40% of salaries, of which a significant portion has, reputedly, always been invested in gold;
3. Indonesia is energetically recommending these new gold-based initiatives, tailored to its citizens’ needs for sharia compliance;
4. While China has recently introduced purchases of gold online, Indonesia’s programs, being mobile-based and attractive across demographics, should see much greater incremental growth more quickly;
5. Specific programs (for hajj, charitable uses) have been developed to suit Indonesia’s specific requirements like a glove;
6. Indonesia can position itself as a technical leader globally with this blockchain-based gold initiative – no other country has this facility;
7. PosGold can be key in achieving its development goals;
8. BRICS accession by Indonesia is possible in October 2024, adding further economic leverage to parallel tracks of integration with ASEAN & EAEU countries;
9. Indonesia has excluded Visa etc in favour of local solutions (de-dollarisation);
10. Indonesia’s own gold production at 70MT is roughly comparable per capita to China’s, but with greater development potential.
11. Worldwide it’s time for gold, but especially for new programs based on gold.
 
AlM said:
Yes! I just meant the rate of growth should be faster in Indonesia, but China & others won't stop.

In fact it may just be beginning, especially for retail.
Click to expand...
It seems retail gold is pricey in Indonesia and the average chap doesn't have a lot of money free in the first place to buy a gold coin, bar or jewellery.
The very small transactions possible with Kinesis and the lower on top costs are hoped will encourage more people to start to build up a gold holding.
Then we have the expected growth in the Indonesian economy which should mean more people have more money free to buy gold.
China is several decades ahead of Indonesia and with a faster growing Indonesian economy, one would expect gold purchases will accelerate much faster.
 
AlM said:
100m plus plus plus

In the next few years potential new sales in Indonesia may exceed those in China, even in absolute MT terms because:
1. China is likely much nearer the point of ownership saturation, given that the government liberalised ownership by its citizens in 2001;
2. 2001 merely added to a decades-long tradition in China of saving about 40% of salaries, of which a significant portion has, reputedly, always been invested in gold;
3. Indonesia is energetically recommending these new gold-based initiatives, tailored to its citizens’ needs for sharia compliance;
4. While China has recently introduced purchases of gold online, Indonesia’s programs, being mobile-based and attractive across demographics, should see much greater incremental growth more quickly;
5. Specific programs (for hajj, charitable uses) have been developed to suit Indonesia’s specific requirements like a glove;
6. Indonesia can position itself as a technical leader globally with this blockchain-based gold initiative – no other country has this facility;
7. PosGold can be key in achieving its development goals;
8. BRICS accession by Indonesia is possible in October 2024, adding further economic leverage to parallel tracks of integration with ASEAN & EAEU countries;
9. Indonesia has excluded Visa etc in favour of local solutions (de-dollarisation);
10. Indonesia’s own gold production at 70MT is roughly comparable per capita to China’s, but with greater development potential.
11. Worldwide it’s time for gold, but especially for new programs based on gold.
Click to expand...
Thanks for taking the time to give a detailed answer! 100 million is ambitious, but maybe just from a western perspective. I literally can't fathom 40% (100 million) of ANY population regularly buying gold. But hey, I am willing to become a believer.
 
dehsur said:
Thanks for taking the time to give a detailed answer! 100 million is ambitious, but maybe just from a western perspective. I literally can't fathom 40% (100 million) of ANY population regularly buying gold. But hey, I am willing to become a believer.
Click to expand...
Well i'm not sure 100 million is that ambitious.

'In order to further promote uptake, Kinesis has partnered with the Nobel-prize-nominated Muslim organisation Nahdlatul Ulamsa (NU), which has agreed to support Kinesis products as a Shariah-compliant option for its members. With over 100 million active members, NU will act as an investor base, facing millions of downstream users.'
 
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