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Business trends

Indonesian property tycoon eyes blockchain in digital push

Lippo Group founder sees "no merits" in U.S.-China trade battle

Mochtar Riady, founder and chairman of Lippo Group, speaks during the Nikkei A300 forum in Tokyo on May 21. (Photo by Kohnosuke Urata)

TOKYO -- Mochtar Riady, founder and chairman of Indonesia's Lippo Group, on Monday said he is pursuing blockchain technology to accelerate the digital transformation of the property-to-banking conglomerate.

Speaking on the sidelines of a forum in Tokyo hosted by Nikkei, Riady, who turned 89 this month, called the technology behind blockchain "simple" and said it is "very useful" for improving the security elements of business. He added that the group is already considering the use of blockchain technology in its e-commerce business, without further elaborating.

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