Utilizing data has become an important part of modern business. Unfortunately, many MSME is still behind the curve when it comes to understanding the data they have and how the data can help them make decisions. Since the financial crisis, banks have become skeptical of lending to MSME. They generally follow the opinion that MSME does not have sufficient cash flow to make loan payments. Overall, financial inclusion is still low in emerging markets because 70% of MSME still lack access to financial opportunities. This is often found because, as a relatively new or small business, most MSME do not have proper legal documentation, guarantees, and/or long-term credit history.
Most MSME do not produce enough to take advantage of economies of scale. They also have low order volumes, which means they have little influence on suppliers and do not receive volume discounts. Given these problems, MSME often feels trapped in a cycle of high costs, minimal financial support, and intense competition. The root of this cycle is a lack of trust. Suppliers don't trust them, banks don't trust them, and, ultimately, customers don't trust them. A recurring problem for new or existing MSME is that they lack the capital needed to encourage productivity. Because many MSME relies on labor-intensive (and not capital-intensive) operations, limited production that depends on labor has hampered its growth.
based on the above problems Tokoin will provide a solution by creating a platform that can establish digital business identity and MSME reputation as an acceptable credibility assessment for suppliers and financial institutions in preparation for dealing with real markets. Tokoin provides a platform to build valuable partnerships that will take you into an attractive ecosystem consisting of collectible business profiles that are profitable for business expansion. These are users who are involved in Tokoin business activities. MSME as data providers send their transaction data activities via TokoindApp. Tokoin process and validate data into valuable assets. Partners can get data by risking the TOKO tokens.
By offering attractive features in it, Tokoin will make it easy for its users to be able to enjoy several features such as Loan Market that will be an intermediary between MSME (which require funds) and Banks that will provide Loan Solutions. Then Crowdlending (Debt Crowdfunding) which will work in a way that is similar to the Lending Marketplace Solution. The next feature is the Cross Loyalty Program, where MSME Traders (as traders) can give prizes to other companies (as customers) in the Tokoin Ecosystem in the form of mobile digital assets called TOKO Points. Furthermore, the Product Survey / Voting feature can conduct product surveys by broadcasting product questionnaires on the Tokoin Ecosystem. Then Invoice Based Financing as a Solution that will help MSME when experiencing delays in payment from customers and expediting their business cash flow. Furthermore, the solution for Buying Installments is to facilitate MSME who need to buy products/services but have limited time funding. then there is also a Group Purchase feature that can be known. Also known as a collective purchase, this solution offers significantly reduced product and service prices by applying a quantity discount on the condition that the minimum number of buyers will make a purchase.
Blockchain technology, developed as a distributed transaction ledger, serves as a platform to facilitate the distribution of information between participants involved by creating a distributed database. Data information distributed on Blockchain is a valuable asset, and blockchain acts as a system that secures data. Each business transaction consists of a data set, including participants, buyers and sellers, orders, payment methods, discounted amounts, and detailed payment invoices. In an online market, data sets are stored centrally on the marketplace platform.
Adapting data in a blockchain-based platform, all information is recorded accurately using cryptography and stored in blocks. The trading ecosystem will implement Tokoin as a data distribution highway. By recording transactions on Tokoin, all participants involved are guaranteed a secure ecosystem of the blockchain with tokens as a mark of credibility assessment. Each participant will get benefits depending on their own needs. Partners get relevant data, while users as downstream participants will benefit from access to business expansion and funding opportunities. In the transaction phase, Tokoin provides a permanent record of information and transactions. That accuracy is guaranteed, for every transaction recorded can be tracked and not changed. Tokoin will operate as an infrastructure that stores decentralized data. After MSMEs as users enter their profile and transaction data correctly, they can secure their reputation profile. As a note, data from users will be validated as valuable assets. Partners as a pile of Token service providers to obtain data to determine the credibility of their prospective clients. By making important positive developments to welcome more participants in an ecosystem. With ideas and approaches proposed to utilize data distribution for credit assessment and business growth, Tokoin aims to enhance economic growth by increasing and maintaining MSMEs as a strong driver of a country's economy in the market developing country.
Tokoin provides a platform to build valuable partnerships that will take you into an attractive ecosystem consisting of collectible business profiles that are profitable for business expansion. By offering interesting features in it, Tokoin will make it easy for its users to be able to enjoy blockchain-based technology. Blockchain technology, developed as a distributed transaction ledger, serves as a platform to facilitate the distribution of information between participants involved by creating a distributed database. Adapting data in a blockchain-based platform, all information is recorded accurately using cryptography and stored in blocks. The trading ecosystem will implement Tokoin as a data distribution highway. By making important positive developments to welcome more participants in an ecosystem. With ideas and approaches proposed to utilize data distribution for credit assessment and business growth, Tokoin aims to enhance economic growth by increasing and maintaining MSMEs as a strong driver of a country's economy in the market. developing country.
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