INTRODUCTION
In recent times we all seem to notice the fact that the majority of goods and services which drives our day to day lives are actually come from small and micro businesses and these ranges from what we drink, to what we eat, to the services being rendered to us on a daily basis. They are referred to as MSMEs.
MSME is a native abbreviation of the full meaning MICRO SMALL & MEDIUM SCALE ENTERRISES. These represent those small businesses that drive about 92% of every developing nation’s economy in their little way. They help provide the necessary things people often need right to their door step or close by without these set of Businesses every nation would face serious trouble trying to balance the economy and also balance the rising need of citizens of every developing countries.
TOKOIN AND HELPING MSMEs
Tokoin is a crypto project with focuses on the improvement and total assistance of MSMEs in a way which can help them scale up their businesses and deliver more to the rising demand of customers. Tokoin also looks to integrate the Tech-Infrastructures of Data acquisition and Online Ledger System which helps to keep tabs on their transactions and help determine seller credibility. In addition to these point on data storage Tokoin focuses more on data storage alongside value transfer relative to other blockchain.
PROBLEMS MSMEs ENCOUNTER AND HOW TOKOIN TAKES CARE OF THEM
- Inadequate amount of Technological resource to upgrade their businesses
- Little Skilled labor.
- Access to market information.
- Proper and adequate financing.
- Client dependence.
- Money management.
- Balancing quality and effective growth.
Most of the problems listed above have solutions that Tokoin blockchain can provide starting with;
LITTLE SKILLED LABOR:
The absence of skilled labor in most small businesses actually affect the productivity of those businesses in the sense that they tend to work with what they have instead of getting what they need to execute their jobs effectively this would lead to quality reduction.ACCESS TO INFORMATION
Every MSME needs to be aware of the rising trend demands on both goods and services without this key information, the level of sales will decline leaving them with outdated stocks which most customers currently have little or no use for . on the other hand Tokoin provides an avenue where these customers can watch their current sales analytics and observe what customers tend to buy more relative to what they think customers need. This is done only when one is an active Tokoin MSME.CLIENT DEPENDENCE
Some MSMEs deal with single clients due to the nature of what they do making them more of an independent freelancer/contractor this isn’t so good when it comes to paying of employees because one has to solely depend on that same client even when there isn’t much to be done. Diversifying ones client’s base is key to getting enough profit and revenue needed to scale the business and keep a good track record too with those clients. Tokoin helps with solving this problem just as their mission statement goes “facilitating trustworthy data exchanges in a specified platform so that MSMEs will be able to meet their needs for financing and business services without complicating intermediaries. The more prosperous MSMEs’ economy will lead to the sustainability of a country’s economy”. In addition when potential clients see how effectively an MSME handles transactions, he or she would know if working with a particular MSME would be productive or not.
Tokoin actually solves the major problems MSMEs face to a very large extent.
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Writer’s Information; Mbaisechick
Bitcointalk profile; https://bitcointalk.org/index.php?action=profile;u=1837094