For so many countries of the world MSME(micro small and medium enterprises) stands out as one of the most viable sector that has all it takes to engage up to 40 to 70% of its populace with even a greater potential to spur economic GDP growth of about 40 to 65%; however while different countries organize the MSME to suit their economic policy needs, the problems beguiling the MSME are quite similar & very much profound, some of this problems are: the unavailability of adequate data & poor data management skills, funding constraints, ineffective scale-up process & then the absence of reputation etc all this have in no small way hampered maximal productivity and economics of scale for countries with MSMEs. the need to boost MSME potentials, provide sufficient capital to boost MSMEs & then create an MSME with an alluring image capable of rebuilding the trust between MSME,s & banks, goods suppliers, financial service providers etc have all prompted the blockchain enabled innovation called TOKOIN.
OBJECTIVES OF TOKOIN
Tokoin is out to Create & offer a unique digital identification system for MSME that will give brands an opportunity to build their image and reputation with no hassle.
Tokoin will give MSME a platform for it to ensure judicious use of data so that I can in the long run create more & better opportunities
To spur business growth, development & opportunities by creating cooperation, Tokoin will achieve this by collecting data from MSME, the data is then submitted via the Tokoin DApp & the Tokoin ensures a seamless process of data validation. Partners within the Tokoin ecosystem are at liberty to acquire data through the staking of TOKO tokens.
ABOUT TOKOIN
The Tokoin platform is poised towards rebranding & establishing the identity of MSME as an acceptable and reputable business platform. It creates a more enhanced business environment that is capable of providing growth oriented partnership for inclusiveness, it seamlessly captures & processes business information from users as a valuable asset that will in turn translates into a major criterion for building a trusted MSME reputation. With this users will for the first time have leverage & access to financial business services from providers (partners). This will go a long way to not just link the business and financial sectors but will also create massive organized inclusion & then boost national economic growth and development.
FEATURES/CHARACTERISTICS OF TOKOIN.
Digital identity (business profiles)
This feature is TOKOIN concerted response to MSMEs for reputable & authentic identities. Tokoin leverages on the peculiarities of the digital sector to get digital business identity, with these MSMEs will be easily able to for the first time record & keep tracks of their business dealings in a digital ledger and at the same time carryout distribution of credit scoring within the Tokoin ecosystem. The incorporation of blockchain technology aborts the need for data records centralization, but encourages decentralized data storage; ensure distribution data with modalities that give clients, banks, partner’s etc access to brands profiles and services. Brands will be for the first time is able to see affiliate networks, business reputation.Digital ledger:
With the incorporation of blockchain peculiarities into the tokoin project all user (MSME) generated transaction data are saved digitally and simultaneously in a unique computerized record known as the digital ledger, the tokoin will also keep (recorded) data generated from KYC processes and then regard them as an indispensable valuable assets. This information’s (data) will be organized, compiled and modified to have more value, this value will then be used a major criterion for determining credit scoring and then reputation level of a business profile, the peculiarities of the system leverages on the blockchain infrastructure (digital ledger) to ensure a seamless process of distribution of data within the ecosystem s as to create a lively interrelationships between all participants within the ecosystem. The tokoin ecosystem is designed in a way that ensures effective and equitable value distribution, the blockchain technology aids the process of interaction between tokoin users and partners so as to ensure maximum security, trust, and valuable partnerships between everyone within the ecosystem. The MSME are the main data providers and so they submit their transaction information in form of data via the tokoin dApp, then the tokoin processes and validates this data into forms that can be used and regarded as valuable asset. A partner can acquire data by carrying out staking of Toko tokens.
- Participants roles
The major participants within the tokoin ecosystem are the MSME, financial intermediaries, suppliers, service providers and indirect participants and data miners.
PARTICIPANTS ROLES OF PARTICIPANTS
MSME The stand out as the very core of the ecosystem, they will create a business account and also a digital business identity, they are to record business activity using the Tokoin application either on phones or PC. This supplied information are the major fuels for the ecosystem, for every recorded data the user earns TOKO tokens as direct incentive and the quantity of tokens collected determines the credit scoring level.
Financial intermediaries After collecting, compiling and organizing MSME data token builds a reputation that will be used by its partners (banks) as a criterion for giving loans, based on the transaction history of MSME on the Tokoin platform.
suppliers Tokoin can act as custodians of data, they collect data, compile data and organize data that will serve the purpose of KYC, inquisition, record keeping, marketing analysis for targeted buyers.
Service providers Tokoin enjoins the supports and partnership of financial providers and business services that make available loans, credit, insurance, services, shipping, logistics and warehousing. Tokoin users (MSME) are at liberty to choose any of the above listed services that suits their purpose.
Indirect partnership This are products of successive expansions in the tokoin project, indirect partners are institutions, governments bodies, research institutes etc all data are gotten by staking TOKO tokens.
Data miners They sieve and verify user imputed raw data before storing it permanently in the ecosystem.
TOKEN INFORMATION:
ICO Token Type: ERC-20
Total Token Supply: 2,000,000,000 TOKO
Token Sale: 700,000,000 TOKO
(35% Token Supply).
Token Name: TOKO
Hard Cap: $ 25,000,000
Soft Cap: $ 8,000,000
CONCLUSION
The Tokoin is a conscious project with an aim to create an up scaled and trustworthy data exchanges platform for MSMEs to operate maximally without complications , tokoin understands that an effective MSME implies a massive economic prosperity and sustainability and so is all out to make that come to pass for economies of the world.
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