Joining the Indonesia tech ecosystem: The first step of SIX mass-adoption in SEA
On 31 October 2018, SIX Network expanded to the Southeast Asia market by listing on Tokenomy, an Indonesian exchange. Tokenomy is a global value creating and distributing network. The platform provides a marketplace for valuable tokens to be listed and traded on the crypto-only exchange.
The decision to expand to the Indonesian ecosystem was a strategic move for SIX as Indonesia has proven itself to be the strongest advancing startup ecosystem in SEA today. Indonesia has a large population of 261 million people, with the average person owning more than two smartphones and using the Internet to do business online with e-wallets. Its large population of digital citizens, especially in the creative industry, means more potential investors for SIX Network.
In 2018, one of SIX’s founders and a well-known prosperous Thai startup company, Ookbee, also saw much potential in Indonesia’s marketplace. The company successfully launched its Joylada application (Story Chat App) in Indonesia, earning more than 500,000 users in less than six months.
Joylada is an open space platform for users to write and read novels using chat conversations. With an average of 127 million clicks per day and more than 2,700 million clicks in October 2018 alone, this application shows much promise in the Indonesian market.
SIX believes Ookbee’s presence in Indonesia via the Joylada application has the potential to be mutually beneficial. The existing ecosystem between SIX and the Joylada application gives rise to the opportunity for SIX Network to create tokenization through the platform. In the future, users of Ookbee’s Joylada application will be able to pay for the stories using SIX.
With the strong tech ecosystem of Indonesia plus the tokenization opportunity through Joylada, SIX’s expansion into the Indonesia cryptocurrency and blockchain ecosystem with Tokenomy is the first step to gaining recognition in the Indonesian tech community and establishing awareness before pushing for a mass-adoption in this high potential country.