Noorcoin is internationally acclaimed and has been featured as a success story and Indonesian pride for Industrial Revolution 4.0 in the President of Indonesia’s oficial website at: www.presidenri.go.id
Industrial Revolution 4.0 and the Blockchain Shariah Coin Innovation System
To welcome the Industrial Revolution 4.0 era, Indonesia President Joko Widodo have enthusiastically and optimistically prepared a number of strategic steps. The President has stressed that Indonesia have to take advantage of existing
developments for the progress of the nation.
“Indonesia has to be quick in capitalizing on the opportunity at hand, as the formula is no longer big countries surpassing small countries but rather, countries that are fast to adapt will surpass those that are slow to do so,” said the President.
In anticipation for the Industry 4.0 era, the government has prepared a roadmap called “Making Indonesia for 4.0”. The President has also repeatedly met with young
people from the digital community and motivated them to create digital ecosystems whereby the intended direction is to build a large community. This is the first
step to anticipate any changes that will result from revolution 4.0.
President Jokowi stressed that in building a digital ecosystem, everything inevitably depends on content creators and software. He hopes that the younger generation
can make Indonesia better with their big vision.
“This is the challenge that we have to face; we have to have a focused vision for Indonesia’s future,” he said in front of a number of digital communities.
Important Principles of Industry 4.0
Important principles that will help identify and implement Industry 4.0 scenarios include the principle of interoperability (conformity), namely the ability of
machines, devices, sensors and humans to connect and communicate with each other through the Internet of Things (IoT) or the Internet of protocols (IoP). The
second principle is information transparency, namely the ability of information systems to create duplicates of the physical world virtually by enriching digital
factory models with sensory data.
The principle of information transparency is what is found in a system called the blockchain. Blockchain is an economic transaction distributed ledger that cannot be
rigged in a digital form. It can also be programmed to record not only financial transactions but all virtual values (Don & Alex Tapscoot, author of Blockchain
Information held by the blockchain is shared and the database is matched periodically. This is one way to use a network whose results are transparent. The
blockchain database is not placed in one location, meaning that the record is published and easily justiied.
There is also no centralized version of information to be damaged or accessed by hackers. Furthermore, blockchain’s activity is validated
by millions of validators at once, making that data easily accessible to anyone via the Internet.
National Pride of Indonesia
Indonesia currently has four startups with the title “unicorn” or with a valuation of more than US $1 billion. The four Indonesian unicorn startups are Bukalapak, GoJek,
Tokopedia and Traveloka.
“Now we have four unicorns, but I want more than that,” said Jokowi in the opening ceremony of Ideafest 2018 at the Jakarta Convention Center (JCC), Jakarta, on Friday
The government, said Jokowi, will provide support to local startups to continue growing or if they want to do overseas expansion. However, support is still needed
from a number of other parties, including investors.
Noorcoin is one of the national achievements that is well received by international community, especially by the Middle Eastern countries. Noorcoin is the first
Sharia token in the world. It integrates cryptography with a platform that complies with Sharia law by making use of blockchain technology. Noorcoin is built with a
decentralized trust and reputation system that works lawlessly on the real-time payment gateway.
The Founder and Chief Executive Oficer (CEO) of Noorcoin, Soia Koswara, is an Indonesian citizen. The Noorcoin mobile application demo has been launched for 57
member countries of the Islamic Cooperation Organization (OIC) during the annual session of the Islamic Chamber of Commerce’s Industry & Agriculture (ICCIA) in
Jakarta (22-23 October 2018). According to Sofia, Brunei and the Kingdom of Saudi Arabia have seriously discussed the use of Noorcoin. Additionally, banks in Saudi
Arabia and the Zakat Council have begun to see digital money as an alternative to long-term financial transactions.
The Ambassador of the Kingdom of Saudi Arabia to Indonesia H.E. Osamh Mohammed Abdullah Al Shuibi, who attended the launch of Noorcoin, has stated
that the use of digital money in Islamic countries is very important. As proof of high interest, the Kingdom of Saudi Arabia has secured allocation of 20 billion Noorcoin .
“In addition to transactions, the main goal is to reduce the dominance of the United States Dollar. Noorcoin, the world’s first Islamic digital currency, can be used for
Umrah and Hajj services, as well as for transactions between countries. The advantages of Noorcoin are the increase in transparency, safety and the 90%
reduction of traditional fees, ” Ambassador Osamh explained.
Noorcoin is the first Islamic digital currency in the world. With the latest, best and most up-to-date technology, Noorcoin is targeted to be the most popular Shariah
currency to serve 1.8 billion Muslims around the world. Sofia added, “Later Noorcoin will be supported with gold (gold-backed) so it becomes stable and more
“We built a Syariah-compliant, decentralized payment and trust solution on the blockchain that makes use of smart contract technology,” Soia
said. With Noorcoin, merchants can receive Noorcoin and exchange it for fiat currencies. Merchants and members can therefore take part in a decentralized global trade with full trust.
Presidential Chief of Staff, TNI General (Ret.) Moeldoko, positively reviews the Noorcoin project. According to him, the unity of the OIC member countries in the field of economy and trade must continue to be improved. This is also in line with
the spirit of building and developing the people’s economy, which is also continuously encouraged by President Jokowi.
“We must know artificial intelligence, understand cryptocurrency, and 3D printing. Know the Internet of Things and virtual realities. All must follow otherwise we will
be left behind,” said the President.
Blockchain is a mechanism to bring people to the highest level of accountability, which is in accordance with Shariah principles. No more failed transactions. In addition, the blockchain helps ensuring the validity of the transaction by recording
it in a distributed ledger. Everything is connected through a valid mechanism. As stated by President Jokowi, the Industrial Revolution 4.0 should be a great opportunity for Indonesia if we are observant and ready to adapt to change. In the
context of utilizing the blockchain system for digital currencies, Noorcoin is an example that has successfully brought religious values together in one digital currency. This is also a creative example of exploiting opportunities that is emerging
in the era of Industrial Revolution 4.0