For the improvements of any industry, finance is undoubtedly pivotal if there would be any changes or growth. This has been the trend for so long and many industries had gotten their boost this way. The same thing should be done to make MSME i.e (micro, small and medium enterprises) rise from their state of regression. The lack of enough capital has affected startups and all they face is setbacks. However, Tokoin is an innovation with great potentials to provide necessary infrastructures needed by MSMEs in the industry.
ABOUT THE PROJECT
This Tokoin project is here to reposition the MSME industry through the power it derives from being a structure on the blockchain. The problems that face the Industry would be addressed through its innovative network that has a plan to establish a business-to-business solution which will make all existing business able to interact and liase with one another to be of support when necessary. It is also bringing about a business to company relationship where all small MSMEs owned by individuals can get involved or connect with companies and be like a partner to them.
This ecosystem exist as a DApp that facilities the activities of many small scale MSMEs. This helps them to meet with helpful investors that are in this platform to have the funds needed to fund their operations. All the transactions are done on the DApp confidentially to the benefit of the users.
TOKOIN'S REPUTATION BUILDING FEATURE
All the MSMEs that are in existence today have for once been involved in one kind of debt or another before people get to know about them, and when references are made to that, they tend to lose their credibility. This is not what should be trivialized because some customers are usually lost in the process. However, it is worth consideration that every business on this platform will be able to build a good reputation for themselves, set their real identities through the way they perform their activities. These records will become their identities and what investors would know them for to be convinced that they can be trusted and invested into. The identities built by the MSME will be real because this is what will make investors make the right judgement and to know the status of every MSMEs they pick Interest in.
THE STAKEHOLDERS OF TOKOIN AND THEIR ROLES IN THE MCMEs INDUSTRY
The first are the micro, small and medium enterprises. They will assist Tokoin by bringing data from every source to make them able to raise enough capital that will be given to them as a an in this ecosystem. They are the prominent data providers in this network. They provide data that are not useful to them as small, micro and medium enterprises but provides what other participants finds relevant. They provide necessary KYC information to the platform. They can also become the buyer when other participants provides data that is useful for them.
There are also the service providers that supervises operations. They observe the data of the enterprises they are dealing with to know how better to serve them.
Some of the participants can be the supplier of data in the platform. They usually provide their services to small brands, micro and medium enterprises. They advertise and make their services available at all times.
Another stakeholder here are the financiaI intermediaries that provides funds to the MSMEs.
The TOKO token stays useful for all the operations in the platform, it ensures proper form of transacting, i.e buying or selling with the customers and also to have access to other useful services of this platform.
Author's Telegram ID: @Chomsy