The world continually witnesses the evolution of different aspects of blockchain technology. From the management of cryptocurrencies to the development of decentralized networks for real-world businesses, blockchain continues to show that it can change the traditional way of doing things.
It is in tandem with that move that the Tokoin blockchain was launched. The platform is dedicated to the global marketplace, where it would serve as the one-stop platform for improving the fortunes of the global system of transactions.
Do you want to know about this project? Perhaps you’re looking for a better method of facilitating decentralized trades. Whichever be the case, I implore you to read further to discover all there is to the Tokoin blockchain.
THE MATCHMAKER BETWEEN MSMEs AND BANKS
One of the leading factors that reduce the feasibility of startups/emerging businesses is the inability to get finances to expand their operations. It has been going on for long, and investors, such as banks are now scared to invest in upcoming companies. Nevertheless, you can deploy blockchain to that regard, and the Tokoin blockchain is an excellent way to start.
The platform takes the role of a matchmaker, whereby it connects Micro, Small, and Medium Enterprises (MSMEs) and financial intermediaries, such as banks and private individuals. The role of a matchmaker is buoyed by the need to help smaller companies to get more funds to push their businesses to the next level.
THE BROADER LENDING MARKETPLACE
Indeed, Tokoin is a decentralized platform that helps startups to raise funds from banks and other financial institutions. While that is tenable, the platform has additional offers. That is facilitated through the broader Tokoin lending marketplace, where multiple investors can buy into an MSME they find favourable and appealing to their interests.
It’s worth mentioning that any business that wants you to trust it before commencing any transactions may not have your best interest at heart. That informed the reason behind the Digital Business Identity from the Tokoin blockchain.
The structure herein implies that Micro, Small, and Medium Enterprises (MSMEs) can create a digitized profile on the blockchain, where their transactions are mapped. By collating this data, Tokoin would be able to create distinct profiles for each startup on the platform. Also, that helps to breed trust, as the participants (especially investors) are confident that they’re dealing with the right company.
Small scale businesses that find it hard to raise funds to make larger purchases can take advantage of the instalment buying option provided by the Tokoin blockchain. The structure here empowers MSMEs to purchase products and services from merchants in the ecosystem.
There’s no denying that incentives go the extra mile to buoy customers to patronize a business the more. Hence, the cross-merchant loyalty program on the Tokoin blockchain allows merchants/MSMEs to issues customers the TOKO Points, which are movable digital assets.
Tokoin created invoice-based financing as part of its bid to facilitate the availability of loans to MSMEs. Here, a startup that lacks sufficient funds for a business transaction can use its unpaid invoices as collaterals to get funds.
The business world is continually evolving with the addition of relevant technologies like blockchain. I don't doubt that the Tokoin blockchain would, through the application of its unique credit/loan, and the decentralized marketplace models, create an all-encompassing ecosystem for everyone in the business community to thrive.
Author's Telegram ID: @Chomsy