TOKOIN: ACCELERATING GROWTH OF MICRO, SMALL AND MEDIUM ENTERPRISES IN EMERGING MARKETS.
Technology has shrunk time and space. Businesses are ever-expanding, advertising and improving their activities through technology. If we are being honest, starting a business and not promoting it online or borrowing ideas on the internet, from other business owners, has never worked. Blockchain technology, developed as a distributed ledger of the transaction, works as a platform to ease the distribution of information between participants involved through the creation of a distributed database. Given that distributed data is valuable, the blockchain acts as a system that secures the data. A business transaction basically contains a set of data like buyers, sellers, orders, payments methods, discount, and detailed payment invoices among others. An online market has a set of data centrally situated on the platform. Adapting this data in a blockchain-based platform, all the information is accurately recorded using cryptography and then stored in blocks.
MSMEs are the building blocks and driving force behind the success of the global expansion. They are responsible for about 90% of the world’s registered businesses and have consequently made noticeable contributions to job creation, production, exports and bridging of income gaps specifically in developing countries. Their flexibility puts them a notch higher than corporations when it comes to adapting to the ever-changing business environment.
SO WHAT EXACTLY IS TOKOIN?
Well, Tokoin is a trading ecosystem highway of data distribution. By recording transactions on Tokoin, participants are all ensured a secure ecosystem of blockchain and tokens are used as a sign of credibility scoring. The partners will get the appropriate data, while users(as the downstream participants) benefit from access to business expansion and funding opportunities. The usefulness and reliability of Tokoin come in where the pathway provides a permanent record of information and transactions. Accuracy is guaranteed as every record is traceable and unchangeable. Tokoin looks to elevate economic growth by providing leverage and sustenance to MSMEs as the infrastructure of a country’s economy in the upcoming markets. Everyone of us, at a point in time, wants to be successful business owners and grow exponentially. Tokoin is definitely a trusted solution to most of MSMEs problems through establishing their reputation in the business ecosystem. Tokoin as a platform captures and processes business information from the user as a crucial asset which is a marker for the trusted reputation of the MSMEs.Users are hence able to get to inaccessible financial business services from providers that act as our partners. Tokoin bridges the gap between business and financial sectors to enable a scheme of financial incorporation. These partnerships will contribute to national economic growth.
To summarise, MSMEs benefit from Tokoin through:
• Building a digital identity for MSMEs that represents a valid reputation
• Accommodating MSMEs to utilize their data to create more funding opportunities.
• Providing growth opportunities for MSMEs by bringing business partnerships.
THE TOKO TOKEN.
Tokoin will offer TOKO which can be bought here on their ICO Platformon the blockchain as a way to interact with participants. Its used as an incentive when a user in the market ecosystem submits data from transactions and endorses the data. For service providers, the token is used to access advertisements and transaction data of MSMEs.The more the participants use Tokoin’s services the more they will have to stake the tokens to continue using the platform consequently raising the price of TOKO.
TOKO is generated by ERC-20 tokens and can be converted to particular main net protocols should the team deem it necessary. This will allow TOKO to be converted to new tokens based on the new protocol. These tokens will only be used in the ecosystem. MSMEs use these tokens to create credit scoring that can be later used to acquire business services.
WHY TOKOIN IS INDONESIAN’S NUMBER ONE BLOCKCHAIN PROJECT
Indonesia is the fourth most populated country in the world with more than 269 million people. Their MSMEs contributes to almost 60% of its GDP. It also has the largest economy in the ASEAN region and ranked the 7th largest in the world in terms of GDP and PPP. Another report indicates 70% of MSMEs in merging markets lack access to credit. Imagine launching Tokoin in such complex MSMEs giving the entire team ample experience and knowledge to expand further into the ASEAN region as well as other upcoming markets. Other governments are for sure watching closely the outcome of the partnership between Tokoin and Indonesia. Already three prominent government institutions with crucial roles in the MSMEs sector have partnered with Tokoin, these are:
• Indonesian Chambers of Commerce and Industry.
• Ministry of Industry of The Republic of Indonesia.
• Ministry of Trade of The Republic of Indonesia.
CONCLUSION.
Tokoin provides a platform to build a valuable partnership/relationship that will bring an aspiring business owner into the engaging ecosystem. This will equip a participant to face the real market. This indeed will be a great project once widely established.
Website: https://www.tokoin.io/
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