Most of the blockchain products proposed to date have had little to no impact on real world business operations. Blockchain companies are too focused on developing new protocols or entirely new blockchains with the hope of providing the best network needed for future decentralized applications. The absurdity of this trend is that the goal of making the best platform for DApps had pushed the creation of decentralized applications as a sidelined purpose of this technology.
Without strong DApps, the purpose of good protocols and scalable blockchains does not exist. The few DApps that have been made are repetitive as ideas are constantly being copied in this space. Casinos and collectible games; more casinos and more collectibles games. Real, unique use cases of blockchain technology are only fabled in ICO whitepapers and not actually materialized into functioning products that can help businesses make money, improve the lives of people, and make the world better in even a marginal manner.
The overall perspective of the blockchain space is very bleak. Mass media companies realize that blockchain technology attracts a lot of money and never actually fruitions into something of purpose. This space as a whole is mocked by the wider world because of this very fact. Because of the growing heat against blockchain products and developers, and the shortening interest in this space, it’s critically important that discussion moves away from projects that just talk about money and towards projects that actually do something of value.
Because of that, I want to shed light on a rising project that can finally show that blockchain technology can have a massive impact on everything from small businesses to economic policy. Tokoin, a blockchain project that held an initial exchange offering on KuCoin earlier this quarter, has had an explosive growth in its TOKO token, propelling its token to incredible highs that have not been seen since early 2018. That begs the question: why has Tokoin achieved such success?
What is Tokoin?
When it comes to blockchain developments, rationality is out the door, utopianism is the mindset, and delivery is seldom a requirement for high valuation. This has been the sad reality of this space for the longest time.
Tokoin is different. It’s one of the very few blockchain projects that has delivered something of tangible purpose and value. What’s more, the project isn’t just another software solution that is going to compete against the hundreds of other protocols that are trying to attract an audience of developers. Instead, Tokoin is a multi-purpose decentralized application that can be used by micro, medium, and small enterprises, government agencies, banks, research entities, and virtually any company that needs data for business to business operations.
Clearly, Tokoin has a huge market demand and offers a high scale of use cases to a varied format of customers. Tokoin is able to do so as it is able to turn data into a liquid asset that is also a means of identity.
A Decentralized Digital Identity
While people may not pause to consider what truly is their identity, the answer is clear. Philosophical meanings of identity aside, governments and businesses associate identities with individual datasets. This means the combination of a person’s name, ethnicity, work, and certain other factors, including socio-economic status, create an identity.
To date, identity has been proven by centralized means. Financial identities, which include credit scores, are particularly centralized since a small number of companies control this information. Tokoin changes the status quo.
Tokoin is a solution for businesses, especially small ones that fit into the status of a MSME, to use the app to build their data profile and acquire a digital identity without even having a bank account. This enables MSMEs to utilize a digital identity to create a credit score which can help them enter the modern financial industry. This means that small companies that have long been cut off from access to loans due to a lack of identity or credit score can now utilize a cutting-edge blockchain solution delivered by Tokoin to finally move past the limitations of the classic financial operations.
Tokoin is a reasonable solution for the 21st century since mobile and data penetration are higher than bank account penetration. Tokoin’s home country, Indonesia, is home to countless people who lack a bank account but have access to the internet. For these people, many of whom operate micro, medium, or small enterprises, Tokoin is the missing piece of the puzzle for prosperity. These businesses can report their financial data to the app, get verified, and acquire a digital identity which can then be used to acquire debt for growth purposes.
Identification is only one part of Tokoin. The decentralized application offers credit score and identity creation after building strong user profiles derived from data. This data is valuable to and can be a means of earning for the businesses that are accumulating it within the application. Tokoin uses state of the art encryption to ensure the data stays protected and out of reach of hackers. Instead, the decentralized application makes it easily accessible to anyone who wants high quality data.
Who would want high quality data?
Data is the Oil of the 21st Century
Businesses, governments, universities, researchers, an virtually any major operation relies on data.
Data allows operations to realize how to proceed without making critical errors. It is the source of efficiency and effective decision making. The massive amount of useful data about MSMEs that will be available on Tokoin will be usable by any entity that stakes TOKO tokens.
Governments
Governments across the world need to make important decisions on fiscal an monetary policy. MSMEs make up the largest portion of the businesses in any country and are the key contributing factor to the economy. However, data on these businesses is seldom accessible and thus economic policies are often not as effective as they could be.
Tokoin offers a powerful solution to governments of the world who can now stake TOKO tokens to access data about MSMEs in their country and then use this data to make economic policies that help businesses grow.
Universities and Researchers
Data is obviously the fuel for research. Every year, research firms that develop new and innovative products, along with major universities that conduct research on various theses, purchase data from agents to operate.
Data agents are just middlemen that charge huge fees and make the process of research and development far more expensive than it should be. What’s worse is that the data sources, often MSME, get no benefit from this. With Tokoin, research firms and universities can easily access data about MSMEs if the businesses are willing to allow the access. In return, the businesses are able to get important perks as rewards. These can be payments, product or service discounts, or product and service access.
Tokoin is a step forward for Blockchain Projects
It’s about time that cryptocurrency users recognize the amount of fluff that has been sprayed in this space. Most projects and developers have failed to do anything.
Tokoin is one of the first decentralized applications that has a real use case for real world benefits. It’s existing partnership network ensures the project can easily head to a market demand for the data pushed in the app, and this will be a great means to encourage MSMEs to participate. Tokoin has not only addressed the technological needs of a good project, but also the business development needs to deliver a successful startup.
Tokoin Project Links
Website: tokoin.io
Telegram: http://t.me/tokoinglobal
Whitepaper: https://www.tokoin.io/whitepaper/Whitepaper.pdf?id=05f5c9d62d22ae24ea82
Twitter: https://twitter.com/TokoinOfficial
Facebook: https://www.facebook.com/TokoinOfficial
Medium: https://medium.com/@tokoin
Reddit: https://www.reddit.com/user/TokoinOfficial