The Urgency of Regulating Digital Pawn Innovation in Increasing Business and Efficiency of the Pawn Industry in Indonesia

The urgency of regulating digital pawn innovation in improving the business and efficiency of the pawning industry in Indonesia is motivated by the absence of clear regulations governing the use of technology and information in the pawn business sector. The development of globalization in the use of technology and information in the pawnshop business will increase efficiency and expand the reach of customers to access the pawn business. Based on this, there is a need for discussion and scientific studies regarding the urgency of regulating digital pawn innovation. The composition of this paper utilizes a regularizing juridical technique with a legal methodology. This study utilizes essential, optional, and tertiary legitimate materials which are broke down subjectively as per their importance to explore issues which are then introduced as exploratory and factious spellbinding accounts. The results of this study obtained an answer that the regulation regarding digital pawn innovation to improve the business and efficiency of the pawn business has not been clearly regulated, especially in POJK Number 31/POJK.05/2016 concerning Pawn Business. Therefore, a regulation is needed as a legal umbrella for the use of technology and information in the pawnshop business.