The INDONESIAN — A major surprise comes from an original Betawi scientist — Prof. H. David Darmawan, an economist and visionary entrepreneur — who once again demonstrates his innovative edge through advanced research conducted at the Betawi Bangkit Laboratory, together with a team of young Betawi scientists and developers.
The scholar, who once studied at renowned institutions such as École Pratique de Haute Études Commerciales (HEC) in France and Université Libre de Bruxelles in Belgium, has introduced a groundbreaking innovation:
BETAWI Blockchain — Electronic Trading Applications for Worldwide Intrapayment System (ETAWIS) — a Sharia-based, transparent, and interest-free blockchain electronic trading system.
Not a Cryptocurrency, but a Blockchain Utility with Real Underlying Assets
In an internal conference at his laboratory, Prof. David emphasized:
> “This product is not related to speculative cryptocurrencies as we know them today. The Betawi Application is based on blockchain technology, but it does not rely on coin systems without real assets. It functions as a digital ledger and a transparent, secure intrapayment system for global transactions.”
The blockchain technology used is as strong as that which supports global decentralized financial systems — but built on Sharia principles and Betawi communal values (gotong royong).
According to a World Economic Forum (2024) study, over 80% of global crypto projects fail within their first three years due to lack of underlying assets and dependence on price speculation.
In contrast, the BETAWI Blockchain ETAWIS system anchors every digital token to real, productive assets, such as:
Land and productive properties
Trade commodities (rice, gold, renewable energy)
Social projects integrated into smart contracts based on zakat and productive waqf principles.
Technical Simulation and Economic Impact
Laboratory simulations conducted by Betawi Bangkit Lab in Q3 2025 revealed remarkable potential:
Indicator Speculative Crypto Blockchain BETAWI Blockchain ETAWIS
Underlying Asset None Exists (real productive assets)
Volatility Potential >70% weekly fluctuation <5% per quarter
Project Failure Rate 82% (global average) <10% (stability simulation)
Average ROI Unstable (≈15% annual loss) 8–12% asset-based ROI
Sharia Compliance Non-compliant (contains riba & gharar) Fully compliant with muamalah
Gotong Royong Mechanism None Community-based profit sharing
An Integrated Ecosystem: Fintech, E-Commerce, and Social Capital
The BETAWI system is designed not merely as a trading app, but as a complete digital economic ecosystem for the Betawi community.
Its technological components include:
1. Smart Contract Financing – project and asset-based financing mechanisms.
2. Decentralized E-Commerce Gateway – direct integration with MSMEs, market traders, and export communities.
3. Intrapayment Protocol – cross-border, multi-currency, multi-wallet payment infrastructure that automatically converts transactions into base assets.
4. Betawi Ledger – a community-verified digital record system, not controlled by corporations.
In early testing, the system successfully processed over 100,000 simulated transactions per second, achieving 99.999% validation uptime — performance equivalent to global VisaNet standards.
Sharia Philosophy and Economic Independence
Prof. David reiterated:
“Allah SWT permits trade but forbids usury (riba). This system was not created to play with prices as in the crypto market, but to build trust, solidarity, and eco
He further explained that while many digital coins have collapsed due to lack of real value, BETAWI Blockchain will thrive because every transaction is rooted in real economic and social activities.
Closing Remarks
In his concluding statement, Prof. David humbly expressed:
“All shortcomings belong to us as humans. Any excellence is solely by the will of Allah SWT. I sincerely ask for everyone’s prayers so that this system and software can soon be launched — for the economic revival of Betawi and Indonesia.”(*)
Media Editorial Team: Representatives of PRIME NEWS POST Journalists/ Media Editor: Hary.
