Kuala Lumpur, 25th of April 2019 – Indonesian cryptocurrency startup, Tokoin, is intensively making preparation for its public sale phase while meticulously planning for its global roadshow. On Thursday (25/4/19) Tokoin joined as part of the Bloconomic Excellence Award 2019 held in Kuala lumpur Malaysia. Through this Keynote event, Tokoin aspires to build a solid community base in Malaysia to solidify its success during its public sale phase.
Through this event, Tokoin had articulate the importance and purpose of this project to blockchain enthusiasts, practitioners, executives and investors alike. Tokoin also aims to build a partnership throughout the global scale to show-and-tell the world about the eagerness of Tokoin to accelerate the MSME in the global scheme. Tokoins participation in this event is also a strategic way to draw attention and spreading the Tokoin word to the public in preparation of its public sale.
Tokoin also convey its true aspiration to assist the MSME accelerating in the emerging market. Addressing the current barrier of economic inclusion, Tokoin allowed the unbanked and unbankable MSME with a technological approach to the solution. Tokoin would like to articulate the project purpose to global audiences from all over the globe, including blockchain enthusiasts, practitioners and executives and also, prospective investors. Moving towards the Public Sale phase, participating in this event is also a strategic way to draw attention and spreading the presence of Tokoin to the public.
Designed to be a blockchain-based platform for Micro, Small & Medium Enterprises (MSME), Tokoin facilitates partner MSME in establishing a credible business identity and excellent business reputation that secures their credibility scoring. With the security, immutability and trusted records in blockchain, MSME will be able to better run KYC and record & store business transactions in a digital ledger creating a valuable business asset.
Eddy Christian Ng, COO of Tokoin has stated that the reason Tokoin favors MSME and emerging countries as the target market is due to the fact that “MSME is one of the biggest economic driving forces in developing countries. For instance, Indonesian MSME contributes 60.3% of revenues from Gross Domestic Product (GDP) and 97% of the national labour.”
Tokoin realizes that there are many sectors that are concerned with the MSME acceleration. Therefore, Tokoin also committed to create the business ecosystem that allows the prevailing institutions to provide their financial and business services for the MSME, as Tokoin partners. Regarding partnership in Tokoin, Eddy Christian also stated that, “The partners in Tokoin are the institutions, banks, brand companies, product distributors and still opens up for many others, to work with Tokoin as a companion and take a leading role in improving the global financial condition and gaining more trust from the customer base.”
Tokoin will facilitate MSME in establishing a valid business identity and good business reputation based on the credibility scoring. The adoption of blockchain technology will be appropriate as the data processing and distributions. With the security, immutability and trusted record in blockchain, MSME will be able to run the KYC efficiently and Tokoin will compile the KYC data permanently as the Digital Business Identity. Moreover, to advance the Digital Business ID, Tokoin will also provide the service for the MSME to record and store their business transaction in the blockchain network, as Digital Ledger which contain their data information as a valuable asset.
Those are the two main services from Tokoin, the Digital Business Identity and Digital Ledger that create the credibility scoring for the MSME. Thus in the aftermath, MSME with good credibility scoring are competent to comply with the requirements of loan credit, property credit, and other business services that are suitable for their business operation.
By taking this important role, Tokoin believes that the MSME will have more access to a richer and more prosperous economic opportunity. The business of MSME will increase, creating more job opportunities and narrowing the financial gap. Subsequently, the people’s quality of life will improve simultaneously.
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