About Blockchain technology today :

Blockchain is a technology that enables secure data transmission based on an extremely complex coding system, similar to a company’s ledger, where cash is closely monitored. In this case Blockchain is an accounting ledger operating in the digital field.

Blockchain possesses extremely special features that data transmission does not require an intermediary to confirm information. The Blockchain system has many independent nodes that can authenticate information without requiring “signs of belief”. Blockchain information cannot be changed and only added when there is consensus of all nodes in the system. This is a highly secure security system against data theft. Even if part of the Blockchain system crumbles, other computers and nodes will continue to protect information and keep the network running.

Based on blockchain technology is now very popular and the need to use the network is necessary. So the team has launched the TOKOIN project (TOKO) this is a platform establish MSME’s digital business identity and reputation as an acceptable point of trust for suppliers and financial institutions

Face the real market. Tokoin provides a platform to build valuable partnerships that will put you in attractive ecosystems that include profitable business records that are conducive to business expansion.

What is TOKOIN Mission?

Building MSMEs profile to guarantee their data integrity
Creating virtual ledger for each MSMEs transaction
Lower financial inclusion barriers by providing reputation scoring
A sustainable business model that enable MSMEs to perform in higher scale
Increasing the economic capability of the whole MSMEs ecosystem

Challenge TOKOIN :

It is important to point out the issues in the current context of small-scale enterprises. Knowledge of that will help us have a perfect understanding of challenges. With that in mind, it will be easier to correlate the suggestions made by the Tokoin challenge.

Lack of reputation is a major challenge that hinders the development of MSMEs. It is so because transparent and fair transactions are part of the key highlights of each business. Therefore, the inability of startups to provide a viable means to identify and validate their operations has caused problems in this area.

In this context, investors, including banks, are pessimistic about funding small businesses. On that note, clear funding is another issue that fighters fight against the development of small businesses. That, in the extension, means lack of finance enough to promote MSME operations.

Solutions of Tokoin :

Establishment of Business Profiles: Tokoin platform gives MSMEs the opportunity to establish a reputation profile that helps them build trust from banks, suppliers, and other service providers. It is a solution that levels up the playing field so that MSMEs can get access to services that were previously unavailable. MSMEs which, for example, struggle to secure loans will now have a solution that allows them to approach banks with confidence. Service providers, in turn, will be given access to the reputation profiles of a diverse network of trusted MSMEs.
Provision of Access to Funding: One of the main barriers that most MSMEs face to survive in today’s economy is funding, while it is actually the power source for MSMEs to enable better productivity and answer the call for business expansion. Apparently, there are several terms and conditions set by the banks which MSMEs, in most cases, are not able to fulfill.
Scaling Up through Access to Expansion Opportunities: Through a blockchain network, information data containing business transactions can be verified in the ecosystem. Tokoin utilizes data recorded in the blockchain network as a valid metric for building a business reputation. In other words, this reputation will be built based on a client’s buying behavior in trading activities, and this information will become an important part of the client’s profile. With this mindset, Tokoin is able to transform an accurate record of data into a valuable asset that MSMEs can use as a leverage to make up for their lack of conditions that can satisfy lending requirements, such as credibility scoring. This will let MSMEs as users get access to the financial services needed to achieve business growth.

Tokoin Provides Fair Business Environment for MSMEs

Tokoin is an Indonesia-led project that understands the complications of MSMEs from the very root of the problem. In fact, the MSME industry appears as a major player in Indonesia’s economy, totaling to more than 50% of its GDP, which served as one of the factors leading to the creation of Tokoin.

In order to address the two key challenges of MSMEs, namely, the aggressive competition and lack of credibility, Tokoin has put forward an innovative solution. The Tokoin platform is a place that establishes the identity of MSMEs as an acceptable reputation in the business ecosystem. To do so, Tokoin employs the digital sector as a facility.

TOKOIN ecosystem :

Tokoin is a data platform service for small business owners.

Tokoin ecosystem includes large sellers of goods, small businesses selling them to consumers, providing digital identities to sellers and small businesses, receiving transaction data and rewards, Tokoin platform provides data based services, service users pay for Toko Inn and use the service.

Transaction data may be paid to Tokoin in shipping, storage, insurance, etc. And data can be sold. Depending on the number of transactions made, the warehouse may decide to expand the business or plan to use people or vehicles in transport. And if you are insured, you can decide whether to approve it when you are covered.

TOKOIN platform is strongly supported from the country

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.