Trade Secrets Protection for Blockchain Technology in Indonesia

Abstract

In the digital age, blockchain technology promises unprecedented security and transparency in a variety of businesses, prompting concerns about trade secret protection. This abstract investigates the problems and legal implications of protecting trade secrets in blockchain technology within the Indonesian legal environment. Trade secrets, which include valuable information like algorithms and cryptographic keys, are critical components of blockchain systems. However, the decentralized structure of blockchain creates significant issues in protecting sensitive data. Indonesian law, principally defined by Law No. 30 of 2000 on Trade Secrets, provides a foundation for protecting secret information, but its application to blockchain requires careful consideration. It is difficult to define the scope of trade secrets within blockchain ecosystems and determine relevant enforcement mechanisms. Furthermore, blockchain's cross-border nature complicates jurisdiction and enforcement difficulties, necessitating international cooperation initiatives. Addressing these issues necessitates collaboration among policymakers, legal experts, and industrial stakeholders. Proactive approaches, such as specialized contractual agreements and encryption mechanisms, can help improve trade secret protection in blockchain deployments. To reduce risks and promote compliance, blockchain developers and users must be made aware of and educated on trade secret regulations. Finally, aligning Indonesian legislation with the unique qualities of blockchain technology is critical to creating a conducive climate for innovation while maintaining confidentiality and intellectual property rights.