In an innovative partnership, Tokocrypto, a crypto exchange in Indonesia, and IDNFT, as a community of NFT enthusiasts, joined forces to launch the Web3 on Campus program. This initiative aims to provide opportunities for students to explore and understand the potential of Web3, NFT, crypto, and blockchain in various fields of study and support the Tridharma of Higher Education as well as provide socialization and education about the development of these industries in Indonesia.
The first campus that became the destination for the Web3 on Campus IDNFT x Tokocrypto event was the Sepuluh Nopember Institute of Technology (ITS), Surabaya. This event was held very well on Monday, May 29, 2023 with more than 280 participants, both online and offline.
The participants also consisted of various majors, ranging from Business Management, Visual Communication Design, Electrical Engineering, Informatics Engineering, Interior Design, Product Design, and various other majors.
As a pioneer of the blockchain industry in Indonesia, Tokocrypto is committed to driving change through decentralization, as well as expanding access to Web3 and blockchain technology. Web3 on Campus at ITS Surabaya is Tokocrypto’s first event with Binance Academy and IDNFT.
Tokocrypto CEO, Yudho Rawis said Web3, blockchain, and crypto assets continued to grow. Tokocrypto strives for this industry to bring many changes with wider decentralization, while expanding access and benefits for society in general.
“Seeing its enormous potential, I hope that friends who are involved in Web3 on Campus can become part of the industry and even develop quality local projects,” said Yudho, in a press release quoted on Saturday (3/6/2023). “Hopefully this program will also open new career paths and provide opportunities for students,” concluded Budi.
Even though Indonesia has more than 17 million crypto asset investors, Tokocrypto recognizes the need for better education and literacy. Yudho stressed the existing knowledge gap and highlighted the importance of inclusive education programs that could attract public interest in crypto assets.
“At Tokocrypto, education and literacy are at the heart of our daily activities. We believe that by providing inclusive education programs, we can foster greater interest and understanding of crypto assets among the general public,” he emphasized.
IDNFT Founder, Budi Santosa expressed his hope that this program would create a learning environment where students from various disciplines can interact directly with experts in this field.
“The existence of the Web3 on Campus program can provide opportunities for students in Indonesia to learn directly from NFT and Web3 experts. This program can introduce new career paths and open opportunities for students to take advantage of NFT, blockchain, crypto, metaverse, and web3 in campus,” said Budi.
Partnership Targets
The target for the Web3 on Campus program will be held in more than 10 universities in Indonesia, during 2023. Previously, Tokocrypto, one of the crypto asset traders in Indonesia, continued to increase its commitment to security and transparency by releasing an accurately audited Proof of Reserves (PoR). The company realizes the importance of user trust in facing a dynamic and rapidly growing industry such as crypto assets.
To ensure security and transparency, Tokocrypto released Proof of Reserves by implementing Merkle Tree verification and zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) to make it more accurate and prioritize privacy.
VP Corporate Communications Tokocrypto. Rieka Handayani said the policy of releasing this PoR proves and verifies that Tokocrypto has sufficient funds to fully cover all user assets (1:1), as well as having additional reserves.
“Tokocrypto uses the Binance wallet service, and users can use Tokocrypto Merkle Leaf to verify funds,” said Rieka in a press release, Friday (12/5/2023). Rieka added that to show Tokocrypto owning all user assets on a 1:1 basis, the company has developed and implemented a Merkle Tree that allows users to verify their assets on the platform.
The goal is to allow any user to verify ownership of their assets using their self-generated Merkle ID hash/record. “In this way, users can ensure their funds are stored in full 1:1 and can be verified by a third party auditor,” said Rieka.
