DNA Building, Denpasar - Bali

Kepeng Indonesia Socialization with Mahasaraswati University Denpasar “Towards Blockchain-based Tourism and Cultural Arts in Bali”

Kepeng Indonesia in collaboration with Mahasaraswati University Denpasar held a webinar with the theme “Towards Blockchain-based Tourism and Cultural Arts in Bali”. The event will be held on Thursday (05 November 2021 at 10.00 WITA – Finish) via zoom meeting. The event was hosted by the MC, I Wayan “Agus” Pratama Putra, and Daniel Manek as moderators.

The webinar presented 5 speakers, namely IGP Rahman Desyanta (Chief Executive Officer of Kepeng.io), I Putu Yuliartha (Chairman of the Daily BKRAF Denpasar City), I Wayan Hendaryana (Head of Tourism Resources and Creative Economy DISPAR Denpasar City), Shofyan Shauri (Chief Marketing Officer of Baliola) and Dr. I Wayan Widnyana, S.E., M, M., QIA (Vice Dean I of the Faculty of Economics and Business, Mahasaraswati University Denpasar).

The event which was attended by around 440 participants from Mahasaraswati Denpasar University was held to introduce blockchain-based tourism and cultural arts in Bali, through Baliola which is the first NFT Marketplace in Bali.

Deputy Dean I of the Faculty of Economics and Business, Mahasaraswati University Denpasar, Dr. I Wayan Widnyana, S.E., M, M., QIA explained that tourists will access tourist sites. Starting from ordering travel tickets, choosing transportation, determining accommodation, to finding information about the intended tourist destination, all can be done via smartphones. The tourism and creative economy sectors are switching to cashless payment systems, or digital payments using QRIS (Quick Response Code Indonesian Standard).

Financial technology system in tourism, blockchain application in tourism is about money. If it is not possible to pay with Bitcoin, you need an ATM that can help convert Bitcoin to local currency via a crypto exchange. Blockchain can also be used to store important documents such as passports, visas, permits, identity cards, and driver’s licenses so that there will be no more cases of fake documents or important lost documents being stolen by criminals. Introduce blockchain, can use his time more efficiently. Meanwhile, tourism insurance through blockchain technology which is decentralized peer-to-peer offers cheaper and transparent fees.

The sale of NFT or non-fungible tokens is currently one of the most popular crypto-assets. NFT is a crypto technology that is a type of digital certificate used by parties who own digital artwork, whether in the form of photos, videos, or images, even memes. The digital certificate serves as a guarantor of the authenticity of the artwork which is very easy to duplicate when uploaded on the internet. Many works of art that are uploaded via the internet and traded with NFT are selling at a fantastic value.

NFT is an online certificate of ownership that can be traded, based on units of data stored in a digital ledger belonging to blockchain technology. NFTs were created as digital or non-digital representations of assets. For example, digital artworks (pictures/photos/paintings, animations, unique collections, music, videos/animations), substitutes for physical documents (manual books, tickets, invoices, important documents, and digital signatures), and other creative artworks.

The original artwork (in this case still in physical form) can be processed digital-first (with devices that do not reduce the quality of course), then marketed in digital form. Collectors may hunt for the original (in physical form).

An example of NFT Crypto Kitties is a Pokemon-style game built on the Ethereum blockchain network. There, you can buy and collect virtual cats, and breed them in hopes of creating new cats with special attributes. The presentation may be familiar, but every transaction there uses cryptocurrency.

Every digital cat in CryptoKitties is completely user-owned. There’s only one of them in the whole game; cannot be duplicated, taken by others, or destroyed. The most special aspect of the game is its breeding system: when two cats are ‘matched’, the cubs will be completely unique – including in appearance, biography, and characteristics.

CryptoPunk is a collection of 10,000-pixel images, each of which represents a randomly generated personality, combination, and unique trait. Of the 10,000 pixel series, there are 6,039 male Punk characters and 3,840 female Punk characters. Some of them wear red lipstick, wear 3D glasses, have red cheeks, wear hair ties, have buck teeth, and some wear beanies. In addition, there is a type of punk without any special characteristics or attributes which is known as “Genesis Punk”. As the first NFT project on Ethereum blockchain, CryptoPunk has been named a popular NFT with fantastic sales. The Decrypt site notes that as of September 1, 2021, CryptoPunk managed to achieve a total trading volume of more than 1.18 billion US dollars or equivalent to Rp. 16.7 trillion.

Beeple: The non-fungible token (NFT) created by digital artist Mike Winkelmann, known as Beeple, has sold for a record $69,346,250 at Christie’s auction house. The artwork called “Every day’s: The First 5000 Days” is a collage of 5,000 unique images created by the artist – one image per day for nearly 14 years. It was printed exclusively for Christie’s on February 16th and is the first digital, NFT-based pure art piece to be offered by a major auction house.

This was revealed in the presentation of Kepeng Indonesia’s Chief Executive Officer, I G P Rahman Desyanta, during the introduction of the non-fungible token (NFT) basis in blockchain technology.

Baliola itself is an ecosystem formed by Kepeng.io as a marketplace that sells creative products of artists, both digital and non-digital in the form of NFT (Non-Fungible Tokens). As the name suggests, the technology base used is NFT in blockchain technology.

The works of art can be grouped into two parts, namely tangible artworks, and intangible artworks. Tangible works of art are works that can be seen, for example, works of physical forms such as paintings, architectural buildings, sculptures, Collectors may, and others. Meanwhile, intangible works of art are works that cannot be physically seen, such as philosophy, momentum stories, etc. Both types of works can then be converted into NFT form.

“Shofyan” Shauri as Chief Marketing Officer of Baliola.com explained the registration process for creator pages at Baliola. During the registration process, artists will go through a validation and verification process. Where the validation process is the process of checking that those who register with Baliola are the true artists. This process is done by checking online and offline data to the artist concerned. After the validation process and the artist is declared valid, the artist will get an artist ID.

The verification process is the process of checking the work submitted by the artist registered at Baliiola, that it is true that the work was made by the artist concerned. This verification will determine whether the artwork submitted by the artist will be minted to NFT or not.

After going through the next process, namely NFT minting, the NFT minting process is the process by which the artist registers his artwork in the blockchain ecosystem so that duplication is impossible and makes the artwork easy to obtain. And NFT is ready to display.