Empirical Evidence of Blockchain Technology Adoption for Indonesian Unbanked Farmers’ Financial Inclusivity

The adoption of Blockchain technology is seen as a potential solution to solve financial inclusion issues in the world. However, current research on blockchain technology to solve financial inclusion has not yet highlighted the importance of this technology. Most of the existing research remains primarily grounded in conceptual frameworks. This study uses a qualitative methodology to examine the perspectives and insights of different stakeholders on empirical evidence of blockchain adoption in addressing financial inclusion challenges faced by unbanked farmers in certain demographic regions of Indonesia. The interviews were specifically designed to address how and why blockchain technology may be utilized by banking institutions to gather and authenticate data pertaining to farmers. This discourse examines the vulnerabilities inherent to current banking systems. The interviewees involved the unbanked farmers, subject matter experts (SMEs) in blockchain technology who also have experienced the implementation of blockchain technology in a rural farmer, an SME in the finance industry, and has implemented blockchain technology.