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Protectoria Venture Enters the Indonesian Market with Strong Partners.
Enterprise Security Magazine | Thursday, June 08, 2023
Protectoria Venture AS, Norway, https://protectoria.com/, has together with its local partner PT Gimle Investment Group, on the 3rd of May 2023, signed an exclusive agreement with PT INTI (Persero) https://www.inti.co.id/, a state-owned enterprise engaged in telecommunication equipment and systems, to propose decentralised digital identity infrastructure services for public entities, companies and citizens in Indonesia.
This means Protectoria Venture enters the large and growing Indonesian market for digital identity services with strong partners, targeting the delivery of decentralised digital identity services for the whole country, responding to national authorities’ requests for a more secure and trusted digital infrastructure, allowing for a larger financial inclusion.
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The Parties to this agreement believe this decentralised digital identity infrastructure will be the preferred choices of modern societies, as there are significant benefits for all types of users of such a digital infrastructure.
-Private sector services:
Simplified, compliant with personal data protection laws and cost-effective scaling of services in its interaction with customers, suppliers and public entities.
-Public sector:
Interoperable and secure infrastructure for sustainable national digital sovereignty respecting privacy protection.
-The population and society:
User-friendly password free authentication that allows citizens to claim identity related credentials through a secure Identity wallet that gives all citizens autonomy over their own sensitive data while giving them easy access to all types of digital services in society.
This decentralised digital infrastructure, emerging as the backbone of the digital economy, will accelerate innovation, strengthen competition, and improve consumer protection to the benefit of society.
The Agreement
The companies commit to cooperate exclusively to design, build and operate a digital decentralised identity infrastructure provided as a generic service that can be operated neutrally towards any vertical service provider from any sector, industry or use case.
Protectoria Venture will provide the decentralised digital identity services based on an architecture using Self Sovereign Identity (SSI) and blockchain technology; and provided as a cloud-based service (IDaaS). Gimle Investment Group will provide services related to government relations, business development, planning and project implementation. PT INTI will engage with government entities and act as a Trusted-Service-Provider towards any private and public application service provider and end user under the new Privacy law (PDP of September 2022)
The attractiveness of the Indonesia market
The Indonesian digital economy is the largest amongst the ASEAN countries, representing 36% of the GDP of the region and showing remarkable growth. The strength of the digital economy is coming from its high pace of internet penetration and large young population. According to the IMF, Indonesia´s digital economy will grow eightfold from 2017 to 2025.
However, the digital transformation in the country is not without challenges and risks such as cybercrime, financial fraud, and socio-economic exclusion of a large part of the population.
Following years of insecure national digital infrastructure, with hacking of personal data, political initiatives have accelerated to propose and operate a national digital identity infrastructure with a decentralised architecture, coupled to a legislation that is protecting privacy, inspired by best international standards regarding data protection regulation.
The Parties to this agreement believe that to handle the digital transformation challenges Indonesia are facing, and to take the full advantages of the digital economy and the 4th industrial revolution, a decentralised digital identity infrastructure service, is necessary.
Comment from INTI
Dr. Edi Witjara, President Director of PT INTI (Persero), has the following comment to the agreement.
“We are very ambitious with our intentions to assist the President and the government with providing the country with a digital infrastructure that can effectively secure transactions, protect privacy and facilitate the digital transformation of Indonesian society.
Indonesia must become a competitive and innovative economy acting effectively on the domestic, regional and international markets, while protecting privacy and digital transactions through decentralised technical architecture. We ambition to scale towards any use case no matter market, allowing for financial inclusion and reduction of poverty “, says Edi Witjara
“We are very satisfied with the partners selected and believe they will assist us in the provisioning of world class identity technology and services, aligned with the requests of the Indonesian government and people, and aligned with international institutions’ visions of ideal digital identity infrastructure. We will propose world class technology enabling the implementation of an efficient, interoperable, and secure infrastructure that will allow citizens, private, public and civil organisations to act in a secure and sovereign manner in the society”, adds Edi Witjara
Comment from Protectoria Venture / Gimle Investment Group
Trond Lemberg, CEO of Protectoria Venture, comments on the signed agreement by stating:
“This contract will allow us to implement our vision to “empower people to become sovereign citizens” in the largest economy in the ASEAN regions thanks to the goals and the commitment of PT INTI (Persero), for providing what national authorities need to deliver on their vision of digital transformation. The contract is a testimony of the right positioning of our business proposal, combining experience from the Scandinavian digitised societies, the vision of leading international institutions and our decentralised identity services. The ambition will be to propose a generic nationwide rollout of the end-to-end digital identity services, sector neutral, based on the Protectoria’s core offering - our digital identity security infrastructure - called “MY IDentity Services”. We are totally committed to these opportunities and will seek to engage local and international consortium partners in the delivery on the demand. We see multiple applications of our interoperable digital identity services in Indonesia, in the Philippines and across the ASEAN region in accordance with the ASEAN Digital Masterplan 2025, ref: https://asean.org/book/asean-digital-masterplan-2025/, where full functionality digital identities on an ASEAN-wide basis is a defined goal within 2025”.
Per Fredrik Ecker, CEO of Gimle Investment Group, is stating:
“Moving towards a global marketplace we believe that strong cross border alliances must be created, and we are pleased to see that this agreement is a step in the right direction to connect the latest world class identity technology and services from Protectoria Venture, with a local strong player like PT INTI (Persero).
We can also now see that secure technical solutions are available in the global market and moving forward with strong partners that can and will make a difference to create the changes that are needed both for domestic regulations and migration to a more secure future for the citizens.
This has the possibility to bring Indonesia into the forefront of this development by utilising years of regulatory framework development from Europe and latest state of the art technology. This combined with a strong local state-owned partner that will act as a trusted partner, will benefit, and secure all stakeholders in this fast-growing digital society,” says Per Fredrik Ecker.
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