Tokoin: Helping MSMEs Grow and Survive in Emerging Markets
The standard definition of MSME also does not exist universally. Every country has the right to determine their definition of this MSME. For example in Indonesia, a business is micro-valued if their annual income is below 300 million rupiah, small between 300 million to 2.5 billion, and medium if their annual income is more than 2.5 billion. In essence, the MSME sector has an important role in the economic growth of a country and is able to help overcome various economic problems in the country and even in the world.
Despite the advantages and services of all MSMEs to the world economy, they still have weaknesses, deficiencies and problems that need to be addressed immediately so that they are able to survive and even develop into bigger ones. Some of their problems are the first obvious because their scale is so small that they are vulnerable to worsening conditions that threaten them to lose money amid a very competitive business environment, lack of data utilization due to various factors such as lack of access to data, not having data, so as not to there is the ability to read and process data for the benefit of their business development. Access to credit loans is also a constraint at this time because since the monoter crisis, many banks have decided not to give credit to MSMEs with a variety of general considerations and stereotypes that MSMEs do not have enough ability to pay debts and many more such as higher operational costs big compared to big companies, difficulty building reputation for new MSMEs, etc.
There is a blockchain-based project that reads this phenomenon very well and makes it an opportunity to be able to help solve the problems faced by the SMEs mentioned above. They are called Tokoin. This project which I will try to discuss on this occasion. Like what and how? See below.
Tokoin is a platform that makes the data and identity of MSME users their users as the main capital to help MSMEs to rise and develop and provide some access that may have been hampered and difficult to obtain. No half-hearted, Tokoin partners with various institutions including the government to be able to smooth their goals. It was proven that they had signed several MoU agreements with Kadin and formed a partnership with Bappenas Indonesia. This is evidence and a very good first step and gives a very high positive value to Tokoin as the first project to get cooperation and positive response from the government.
According to them, the main key to solving various problems faced by most MSMEs is the "business profile" of each MSME. The profile of each MSME member of the Tokoin platform user is a valuable asset which then functions as a digital identity and is used to build their reputation and is used to gain access to various financial services and other partnerships to help their economic development and expansion become even greater. By using this platform, members will very easily access financial credit services that were previously difficult to access, including accessing services from all Tokoin partners without having to go through intermediaries and complicated processes again.
Their IEO has been running well and finished well and received a positive response from the market. This indicates that their project has received very good support from the cryptocurrency ecosystem and their token prices continue to rise. This cannot be the main indicator, but it can be used as an additional consideration for their project analysis. In my own opinion from the information above, of course I put Tokoin as the top project from Indonesia with excellent preparation and development and getting support from the government as evidenced by the cooperation signed with Kadin and Bappenas Indonesia. Next we wait for what other surprises will emerge from this Tokoin project. Hope it is useful and don't forget to visit their official link below.
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