Basically, there is no transaction without data, the data however I what holds the information of all what transpired between those involved in the business done. Usually, the details of the payments, orders made, date, invoices received, and lot more details makes up the day which is usually scattered on the central market where sometimes they cannot be traced since they were not recorded to be used or accessed later. Meanwhile, these data as an asset could be used to achieve better advantage if provided to service providers. The industry clearly lacked a suitable approach to storing data assets but with the use of the blockchain in conjunction with Tokoin innovation, this will be possible.
WHAT IS TOKOIN?
In this platform, all MSMEs transactions would be recorded and it will become a major data distrubution network where all users will be secured to transact and add to their values. In this platform, all the demands of users and partners can be supplied since data will be received from every source. The outcome will be the expansion of businesses and the access to more funding opportunity that will make them stronger. There is accuracy in the process and all that is ensured by the imutability of the digital ledger which starts as the back bone of Tokoin. The users are basically the MSMEs, and what they will do after registering as users will be to imput all the transactions data into the system to build their unique profile which depicts their reputation in the community.
TOKOIN plans to help emerging markets by developing them through its work of data distrubution specifically for credit scoring as an idea which it introduces for business growth. The economy also will thrive on this factor even as more participants join the system to continue in the process.
MSMEs need to have reputable identities is fulfilled through the special facilities which makes them very relevant in the digital community. The digital ledger will now become their market place for all their programs to ensure they get the protection they need and for them to have real access to partners willing to support them. To that end, all the MSMEs are provided with digital ID which makes them a partaker of the features. They can however see how far they can go with their programs. All users will partake of the benefits that is meant for participants as they keep track of their data.
After creating the profiles, all other brands hoping to strike deals can access the profiles that are regularly updated and also the reputations are revealed and not hidden. This records shown includes the time those transactions were done and when payments were made.
All the records are going to be saved on the digital ledger as timely as possible such that no information is skipped. More details that are quite more confidential about the transactions are set aside as valuable assets and are not revealed without the permission of the owners.
All data has values embedded to them which of course is what adds to their credit scoring system. The kyc protocol makes enough data available in the platform and that is more like a process which all the partakers must undergo. TOKOIN leverages on the underlying digital ledger structure and that allows all MSMEs maintain the perfect relationship between all the users. The financiaI intermediaries in this system can be the common know banks or multifinance bodies. Service providers in this platform includes the advertisers, consulting and property agents and lastly tge suppliers are the companies, brands and other logistics partners.
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