If you have ever tried setting up a business single-handedly without any form of support from the government or any corporate institution, then you will understand the challenges being faced by most start up businesses.
Drops of water they say makes an ocean, which means that most big companies we see today started small but gradually became big through several development and consistency, but then how easy has it been for Upcoming start up businesses to get supports in this current state of global economy?
These upcoming businesses can be likened as MSME’s which means Micro Small and Medium Enterprises and the most interesting fact about them is that they occupy about 90% of the registered businesses globally. This is a direct pointer to the fact that these MSME’s are strong determinant of the global economy; hence great importance should be attached to them.
But as it stands now, the existence of these businesses are being threatened rather than being improved as a result of the various challenges being faced by them on regular basis. The most lethal of these challenges includes the lack of financial support and collaterals by these businesses which make them non-qualified to get loans from banks and also the inability to maximize their data usage effectively because they don’t know the importance of these data.
In a bid to revive the MSME’s sector and the get rid of these challenges associated with them, Tokoin platform has risen against all odds to achieve a safer and more encouraging platform for all MSME’s to boost their development.
Tokoin is a blockchain based platform that is creating a trusted and reputable profile for MSMEs' through the assembling of the business non-financial data into a digital ID.
How does Tokoin Plan to Annihilate the Financial Restrictions being experienced by these MSME’s?
Tokoin will utilize the information data that is being recorded on the blockchain network that is already verified in order to build the reputation of all MSME’s. These data being accumulated can therefore be used by businesses as leverage in order to meet up with loan lending requirements which will give the businesses the opportunity of getting the financial services they need for their growth.
Also, Partnership with big institutions shall be made available to these businesses which will also serve as a motivation for the MSME’s to build their reputation and credibility because their behaviors shall be monitored by the platform.
In order to get a digital identity on Tokoin by MSME’s, a business account needs to be created on Tokoin App, after this a KYC is needed to be done to verify this profile, this shall be followed by an official business identity which will be given the MSME’s if the KYC gets successful. This identity can then be used carry out transactions on marketplaces affiliated with Tokoin by MSMEs’.
Token Details
Token name: Tokoin
Token symbol: TOKO
Token type: ERC-20 based
Total supply: 2,000,000,000 TOKO
Token sale: 700,000,000 TOKO
Token usecases: incentives for participants that submits and validates transaction data and also serves as pre-requisite for the usage of some services on the platform like business insights, access to advertisements and transaction data for service provider.
Conclusion
The whole ecosystem of MSMEs’ is just about to witness tremendous positive improvements with the strategy behind the modus operandi of Tokoin platform and so many other great features which will ensure the better sustenance of MSMEs’. With the professionalism and experience of the set of team behind the Tokoin platform, it’s obvious that the platform will succeed in its aims and objectives.
Kindly check the links below for more information and enquiries;
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