Tokoin: An Innovative Blockchain-based Platform Where MSMEs Can Build Credibility Scores

oluwatosin10 (41)in #msme • 5 years ago

Preamble

In many times, a business venture may not be chasing those that can invest funds into it and those that will buy their goods and services together at a time. There come a stage in business when the focus will be about customers which later entice investors into the venture. As strategic as this might look, many start ups are not getting it done and it remains a pipedream to most of them especially when all the conditions to make this a reality are yet to be part of the enterprise.

Why Building Reputation is very Important for MSMEs

It is not something that anyone will argue with that emerging markets and Micro Small and Medium Enterprises (MSMEs) have many challenges facing them which they must resolve before they can become a more well-known enterprises. The process of going through this can be illustrate with sowing in the field and working tediously to take good care of it in order for you to enjoy the fruits of labor but when it comes to emerging markets and MSMEs, only few of them always scale through this process successfully.

Reason for this is because only few MSMEs are able to pass through this rigorous transition process that will refine their business and bring it to limelight. What I mean about this process is meeting up with important conditions that will further accelerate their relevance in the world of business and one of this is having untainted solid reputation.

Though many emerging markets and MSMEs find it very difficult to build a solid untainted reputation but with the innovative Tokoin blockchain platform, this will be easy for all MSMEs to do.

So, if you have a new start up or you are planning create one then my advice for you is to take your time and read till the end because what am sharing will certainly benefit you in one way or the other.

The Digital Business Identity

The Digital Business Identity is the reputation mechanism created by TOKOIN blockchain platform for emerging markets, new start-ups and MSMEs. This reputation mechanism make use of blockchain innovation which is an immutable, transparent decentralized network with features that can eradicate third-party intermediaries and give power to the end users. It is because of these features of blockchain that Tokoin will use it to create a reputational process known as Digital Business Identity.

This Digital Business Identity is a platform committed to digitizing the identity and activities of MSMEs to build their credits scores and reputations. This is very important because it will assist them in convincing their intending partners or investors to have access to the activities of the ventures and how it is faring which will be the base of your judgment about it.

Parts of Digital Business Identity

Digital Identification: There is a viral misconception about startups and MSMEs and this has always make it difficult for the them to create a worthy system to use to build their reputation. The reason for this is because the market is highly competitive and callous. We have seen many situations where already well established business will do everything to stiffen startups and MSMEs out of business and this is not good for the economy. But with Tokoin Digital Business Identity offers a digitalized identification procedure for emerging markets, startups and MSMEs which they can use to build a solid reputation for their brand.

Data Funding: Data is the new oil and we have see many brands built on freemium business model becoming a multi billion dollars ventures all because they have huge access to their users data which they do sell to advertisers. So in Tokoin platform, all information provided by this startups will be gathered and collected through a decentralized application (DApp) built for it. After collating it, the platform will then validate it into a usable assets for investors and financial institutions that have interest in them and with this, MSMEs will be open to those that may have interest to invest in them.

Cooperation:Apart from exposing your business to the world and getting better opportunities for funding, MSMEs and startups can also use their reputational identity within the platform to partnering with other startups within the platform. They can also make use of other startups services within the platform thereby creating a positive and profitable collaboration among startups within Tokoin ecosystem.

Final Words

The innovative Tokoin platform comes with an unquantifiable opportunity for emerging markets, startups and MSMEs to build the reputation of their brand on a transparent decentralized network and through it they will be able to expose their business to the world and build it to become a reputable global brand.

Avail yourself with more information about the project by checking any of the following links below:

https://www.tokoin.io/
https://www.tokoin.io/whitepaper/Whitepaper.pdf?id=05f5c9d62d22ae24ea82
http://t.me/tokoinglobal
https://twitter.com/TokoinOfficial
https://www.facebook.com/TokoinOfficial
https://medium.com/@tokoin
https://www.instagram.com/tokoinofficial
https://www.linkedin.com/company/tokoinofficial/
https://www.quora.com/profile/Tokoin-Official-1