Blockchain Brings the Truest Peer-to-Peer Interactions in the Sharing Economy

The industrial revolution liberated mankind from the animal power dependency, mass production no longer a myth, leverage digital capabilities to billions of people. Then what next?

Now we arrived at the gate of the 4th industrial revolution, or Industry 4.0. This phase represents the combinations of cyber-physical systems, internet of things, and the internet systems itself. Briefly, this is the smart business idea when machines are added to the web connectivity and connected to systems that can visualize the entire production chain.

In society, every industrial revolution changed the way people live, work, and communicate. Without exception, the industry 4.0 itself. The evidence of this dramatic event marked by so many changes that occur at exponential speed. Fusing the physical, digital and biological worlds, affecting all disciplines, economies and industries, and even confronting the ideas about what means to be human.

Facing this event, the business world is also adapting, especially on the business model. Efficiency about the production and manpower are being adjusted to the latest inventions of the industry 4.0. The fusion of sharing economic and blockchain.

What is sharing economy?

Sharing economy is an economic model who is defined as the collaborative consumption or the peer-to-peer (P2P) based activity of acquiring, providing or sharing access to products and services that are facilitated by a community based on the online platform.

Sharing economy often referred to be the fastest segment in business. Helping the business ecosystem to be more efficient. It allows people to share its assets, Airbnb and Uber for example.

There are several factors that make the sharing economy become a business model that is widely supported, including in Indonesia.

First, Internet access which provides a means to exchange information. Second, mobile devices make it easy to access information at any time and anywhere when needed. And the third is the emergence of a marketplace platform on the Internet that creates new relationships that are no longer the form of consumer-corporation-workers, but entrepreneurs who provide products and services.

This sharing economic model has extensive access to availability, because goods or services can be provided by anyone.

Ain’t a saint, Sharing economy still has it’s dark side

Unfortunately, this poster-child of the industry 4.0 not always a saint, it still has a dark side. Though technology can be a powerful agent for good, it can’t be denied that every innovation still has its own homework to be improved. In this case, is the centralized system.

Centralized issues often appointed to this new wave of business. like what is often occurs in the sharing economy business model, it still vulnerable to be shut down at any time possible by the authority, if it comes to face the regulatory contrariety.

In additions, on the centralized system, the transactions between consumers and providers are routed through infrastructure, hubs, and software that belong to the companies that own the platform.

In the meantime, besides taking fees, the platform owners are in absolute control of the networks, they often have abused their capacity, monetizing the private data of their consumers. The worse part is, individual providers and consumers have no ideas of what’s just happened.

The dynamic duo, blockchain-sharing economy brings the truest peer-to-peer interactions

Regardless of all the hype, sharing economy to be perceived has passed its heyday. It is stated that “The ‘Sharing Economy’ was dead”, describing the saturation of things that are generally referred to its dark sides.

However, the combination of blockchain and sharing economy might create a revolution that provides dramatical changes to the trend and gives the possibility to share wealth outside certain companies and individuals.

In essence, this technology emphasizes the healthy business ecosystem as the system tried to solve the unnecessary fees problem and improving the security system for the data existence.

Much more inexpensive, the platform is severely limit, sometimes completely cut out, the need for an intermediary. It allows the truest peer-to-peer interactions, eliminates the 20–30% transaction fees that come from the middlemen.

Provide much-needed transparency, blockchain is an ever-growing set of data blocks. Each block records a set of data transaction that is distributed across a group of computers called nodes. Each nodes has its own copy of the data set transactions, and every change made can be traced and recorded simultaneously.

This is the decentralized character of the blockchain, where there is no central point of authority that recording the data and makes the blockchain impossible to be hacked. In order to hack one set of data, hackers need to attack every node that connect in the network. This security aspect is what Tokoin will utilize in terms of distributing crucial transaction data as the fuel of MSME reputation generator.

Tokoin Global Roadshow – Korean Meet Up – Technology brings the industry closer to its market. The utilization of technology helps the industry players to thrive better than the previous industrial revolution. Within this technological implementation to industry, there are more benefits that can be offered by the industry itself. One of them is the implementation of the blockchain.

In Tokoin, blockchain is utilized to assist the MSMEs sector to get easier access to thrive. Tokoin using Blockchain to serve the MSME sector for having proper digital records to grant access to business solutions such as funding from banks and other financial institutions. Tokoin supports MSME in building their credit scoring and business profile to help them gain a reputation.

Tokoin visited Korea as the continuity of Tokoin’s Roadshow. Tokoin was presented by Reiner Rahardja, the CEO and Co-Founder of Tokoin and Gunhee Lee, the Advisor of Tokoin.

To introduce the platform, we conduct several series of roadshows, visiting some countries with a huge growing economic potential. We have visited Indonesia, Hong Kong, Singapore, Vietnam, Dubai, and Korea”, said Reiner Rahardja.

He stated that the reason Tokoin chose MSME and emerging countries as the target market:

MSME is one of the biggest economic driving forces in the emerging market. For instance, Indonesian MSME contributes 60.3% of revenues from Gross Domestic Product (GDP) and 97% of the national labor”.

With the massive amount of businesses, MSME has become a significant sector that contributes to the developing countries GDP. However, their excellent number of contribution could not help them to transcend the problems that have been shadowing them all this time.

On this global emerging market, MSMEs hold an important role in accelerating the nation’s economy with more than 400 millions existing businesses. Tokoin presents to manifest solutions to ease the burdens of the MSMEs from the actual problems they face.

By utilizing blockchain technology, they can actually provide proper transaction records and built their credibility status to access many business solutions. By that, they will be able to put a monetization scheme of tokenization reward from those valuable data they stored on Tokoin platform. This activity will be carried out properly with business partners from financial institutions who share the same vision to accelerate MSME development.

On this event, Tokoin not only sharing a vision to accelerating the MSME, but also conveys the project purpose to global audiences from all over the globe including blockchain enthusiasts, practitioners, executives, and prospective investors as well. Moving toward the Public Sale phase, participating in this event is also a strategic way to draw attention and spreading the presence of TOKOIN to the public.

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The Potency Of Economies in the Cooperative System

The potency of economies lies in the people, thus the prosperity of the people indicates the success of the system. This is one of the objectives in the field of co-operative economy. To achieve the intention, cooperatives work as an organization that operates through pooling or accumulating in parts of larger yet venous system. In many different types of Indonesian cooperatives, every part and members, are responsible for the primary budget and operational budget which the amount and pooling frequency are set and agreed upon all members.

The co-operative system arranges equal right to all members. According to the Indonesian Republic Cooperative Law – Act 25 of 1992, every member holds equal rights and responsibilities by the Articles of Association. The general rights of each member including to attend Annual Member Conference, to choose or to be chosen as the executive committee, and to express opinions to the conference or to the executive executives. It is the responsibility of each and every member to maintain and cultivate the principle of fellowship in the organization.

Arranged upon the Indonesian Republic Cooperative Law – Act 25 of 1992, the requirement of founding a cooperative is having a minimum of 20 registered members. The membership should be open, voluntarily and every member involved based on their own and personal will. Openness in cooperative means that there is no discrimination of any form to the members. To allow the organization system to run accordingly, the cooperative acquires its members from similar business interest and purposes, so every member is willfully bound to participate in the business activity.

Coop as an organization

As a business organization, a cooperative is an economic institution. In terms of running the business, cooperative base their operation to the rational economic theory including the effectivity and efficiency to achieve the optimum result. Meanwhile, as stated above the objection of a cooperative institution is to prosper the member, because cooperative is a pool of people instead of a pool of funds. Therefore, the profit earned is dedicated to the life of the organization itself and for the member it is profit shared in the form of surplus revenue.

Why cooperative is important for the economics

The noble purpose of the cooperative objectives is to prosper the economy of the social environment. It is hoped that through the cooperative system, the national economy is supported and sustained. This is the reason that cooperative is identical with the MSME. The small and medium business are united through their same vision of sharing economy, in a traditional way of collecting funds independently. The likeness between cooperative’s objective and the role of MSME bring the two together in the potency of economies of scale.

Potential aspects to the partnership

Today, there are many ways to improve the life expectancy of a cooperative organization, especially in terms of business partnerships. Prevailing business institutions that provide services is obliged to focus on administering the credit and loan needs of small businesses. If the Cooperative organization, with the dedicated member adhere to the requirements, then it is an effective way to scout promising clients for the business institutions.

Tokoin is present to “meet the needs” of Tokoin’s users and partners (financial institutions, insurance, property business, etc). Through the idea of accelerating the MSME, Tokoin opens up the membership opportunity for the MSME to build reputation digitally and accordingly.

Thus, Tokoin will facilitate both cooperatives and the MSME sectors to meet their needs. Through the Tokoin blockchain platform, MSME will be facilitated to solve their access credit problem, while cooperatives will be assisted with a trusted platform to build their digital ecosystem with an effective market solution.  

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Tokoin in Dubai Blockchain Summit 2019, The Most Influential Blockchain Summit of This Era

Hosted by Smart Dubai in partnership with the Dubai World Trade Centre, Future Blockchain Summit unlocks many opportunities in an exponential speed of industry through global partnership, demonstrate real-world blockchain use cases for business and daily life, featuring a real-life interactive blockchain experience.

Took place in 2nd and 3rd of April 2019, Future Blockchain Summit will host the region’s largest gathering of blockchain experts, implementing blockchain to lift the veil on the technology, focusing on the countless ways that it is altering industries and delivering multi-billion dollar opportunities for the international blockchain industry, which is expected to grow to be worth US$20 billion by 2024.

Attending this event, Tokoin aims to build a partnership throughout the global scale to show-and-tell the world about the aspiration of Tokoin for the MSME in the global scheme. To efficiently demonstrate the application of our business model, Tokoin also presents in the panel discussion themed “Strategy and Branding of Building A Successful Blockchain Company in Asia” to communicating the SME’s Landscape on Emerging Market.

On this event, Tokoin introducing its platform through a panel discussion. Addressing the hot topic of economic problems with a technological approach to the solution, Tokoin would like to convey the project purpose to global audiences from all over the globe, including blockchain enthusiasts, practitioners and executives and also, prospective investors. Moving towards the Public Sale phase, participating in this event is also a strategic way to draw attention and spreading the presence of Tokoin to the public.

The Future Blockchain Summit is the world’s most influential gathering of blockchain adoption and opportunities and a meeting ground for industry leaders, government and tech startups with over 10,000 visitors, and hosting speakers from world-renowned brands. Officially hosted by Smart Dubai, the government entity responsible for seamlessly connected services in Dubai, and organized by Dubai World Trade Centre it covers blockchain adoption across all sectors including retail & e-commerce, healthcare, transportation, education, creative economy, hospitality & tourism, energy, Fintech & banking and more.

The Undisputedly High Security of Smart Contract – The decentralized aspect of blockchain, the effectiveness of assets distribution system always had its spotlight among industry 4.0 technology character. It is said that the decentralized system could revolutionize the economic, conventional ineffective banking system are going to disrupt to embrace financial inclusion.

The decentralized system that exists between all permitted participants, there’s no need to pay intermediaries or middlemen for distributing your assets, it will save you time and conflict.

Thanks to the invention of Smart Contract that made the peer to peer transaction being supported by a high-security system.

Back in 1994, a legal scholar Nick Szabo, first peached the concept of smart contracts that followed in an invention of digital currency called ‘Bit Gold later in 1998. This is way before Bitcoin ever existed. This contract was self-executing and converted into codes to perform tasks.

Unlike the famous Satoshi Nakamoto or Vitalik Butterin, Not much of this man going viral back in the days. Nick Szabo certainly enjoy his privacy, though his Smart Contract invention indisputably becomes the groundworks of what so-called the decentralized security system.

So what exactly is the Smart Contract is?

In general, Smart Contract is just like the usual contracts that we have in our exchange property, money, shares or anything valuable securely and transparently with a little twist. This invention let you transact efficiently, it removes the necessity of middlemen.

Smart contract is created between two parties that are transacting in the blockchain platform. Both parties remain anonymous. After it is created, the contract is stored on a public ledger. After being stored, the system will analyze the contract. If there is any triggering events are set, i.e. deadlines, the contract will self-executes as per written codes.

Regulators and users are allowed to analyze all the activities and predict market anomalies and trends.

A simple explanation to explain the smart contract; think of it as an agreement. John wants to buy a car from Wayne. He can easily pay Wayne using blockchain network and through cryptocurrency. John will get a virtual receipt, and it will get included in the smart contract.

After Wayne gives you the key to your car within the specified date, John releases the payment. If Wayne didn’t give you the key, then the network will call in a refund. However, if Wayne gave you the key within the specified time, then the key and the fee both will be held up until the specified date.

Once it has all the components to be released, it will discharge the key to John and the fee to Wayne. If anyone tried to get access to the code, then every party linked to the contract will get alerted immediately.

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The New Wave, Minted A Crypto Coin – What kind of crypto coin will be minted next? How would it be designed, implemented, and keep under control a revolutionary wave that is tsunami-ing the hell out of the concept of investing as we know now?

Industrial revolution 4.0 marked with the characteristic of the internet implementation to the business activities. The internet helps businesses to get easier access to their market directly, this lead to the convenience acceleration.

However, the revolutionary movement of the 4th industrial revolution doesn’t stop only to the invention of the internet. The ‘digital networking’ gives birth to the other phenomenon invention also, the Blockchain.

The introduction of blockchain carried by the Bitcoin brings blockchain to embrace its heyday, a lot of company held a public offering and hit their Token cap since blockchain became viral. The famous blockchain project revolutionizes the industry itself, from the first stage it is introduced as an exchange commodity, until today it is utilized as a groundwork of business model of securing valuable data asset.

Since it was introduced in 2008 and went viral in 2013, a lot of blockchain project has been initiated. Since then, there are many steps to offer it’s crypto to the public. The one that famously well known is through ICO (Initial Coin Offering). But besides holding an ICO, there are several other familiar ways that can be taken.

ICO – Initial Currency Offering

ICO is a process to raise fund for a specific project in terms of cryptocurrency, such as Ethereum or Bitcoin, in return for its tokens that can be used in its specific services or applications.

Similar to Initial Public Offering (IPO), instead of money in terms of fiat currencies, cryptocurrency is raised to support the project for ICO. In return, a certain number of tokens that is built on its specific application blockchain technology will be allocated to the contributors instead of shares. These tokens can be traded on some private exchanges.

STO – Security Token Offering

Similar to an Initial Coin Offering (ICO), an investor is issued with a crypto coin or token representing their investment. But unlike an ICO, a security token represents an investment contract into an underlying investment asset, such as stocks, bonds, funds and Real Estate Investment Trusts (REIT).

A security can be defined as a “fungible, negotiable financial instrument that holds some type of monetary value,” i.e., an investment product that is backed by a real-world asset such as a company or property.

A security token, therefore, represents the ownership information of the investment product, recorded on a blockchain. When you invest in traditional stocks, for example, ownership information is written on a document and issued as a digital certificate (e.g. a PDF). For STOs, it’s the same process, but recorded on a blockchain and issued as a token.

STOs can also be seen as a hybrid approach between cryptocurrency ICOs and the more traditional initial public offering (IPO) because of its overlap with both of these methods of investment fundraising.

IEO – Initial Exchange Offering

An Initial Exchange Offering is a token sale hold on an exchange. IEO works on different cryptocurrency exchanges depending on how it gets planned. The exchanges create a platform where the pool of developers can mint and sell the projects to crypto enthusiasts and investors!

To be participating in this type of crypto investment, the public must first have to be a user of the hosting exchange. IEO is very unlikely to the ICO, while ICO allows any contributors to buy the token for sale by sending funds into a specific address, an IEO requires contributors or users to buy the token by using the exchange’s accounts.

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Answering the Cooperative’s Challenge on the Industry 4.0 – The challenge of cooperatives in the era of the industrial revolution 4.0 is how to make cooperatives remain to have a key role in empowering the economy. The rapid flow of global emerging market within the implementation of technology, inevitably forces cooperatives to adaptively respond to the changes that occur. Or really going “gone with the wind”.

Although the journey of cooperatives has a high dynamics in the ups and downs of its development, the radical change by the industrial revolution 4.0 needs to follow by cooperatives in order to strive.

In comparison, the performance of cooperatives in Scandinavian countries might be used as a guide. Cooperatives in Scandinavian countries and Europe, in general, have advanced rapidly and even become promising business entities.

Several banks in Europe are owned by cooperatives and have even become one of the largest banks in France (Credit Agricole Bank). In the Netherlands, the forerunner of Rabobank as a world-class bank is an agricultural cooperative bank established since 1895, starting from credit to local farmers from the savings of each member of the farmer cooperative.

On this industry 4.0, technology has made industry strive with an exponential speed on the emerging market. Many developing countries successfully accounted for their economic growth very well. With the massive amount of businesses, MSME has become significant sectors that contribute to the developing countries.

On the global emerging market, MSMEs hold an important role in accelerating nation’s economy with more than 400 millions existing businesses, accounted for 60.3% of revenues from Gross Domestic Product (GDP) and 97% of the national labour. However, despite their phenomenon contribution, MSME could not help them to transcend the problems that have been shadowing them all this time.

Aim to support the industrial sector with the utilization of blockchain, Tokoin carries missions to help MSMEs who often find it difficult to grow their business. Tokoin brings together the convenient “meet the needs” between Tokoin’s users and partners(financial institutions, insurance, property business, etc).

As a platform that leveraging blockchain technology to establish Valid identity and reputation of MSMEs, Tokoin implements digital identity and digital ledger to build MSMEs credit scoring services, to increase MSME’s economic scale. This technology has a similar function as the bank account for its transactional recording.

The idea is to bring prosperity to MSMEs. On this modern business ecosystem, Tokoin allows MSMEs on having the financial records as similar as with the bank. Every transaction that is initiated through Tokoin’s platform is accurately recorded with timestamps.

By thus, Tokoin will facilitate both cooperatives and the MSME sectors to meet their needs. Through the Tokoin blockchain platform, MSME will be facilitated to solve their access credit problem, while cooperatives will be assisted with a trusted platform to build their digital ecosystem with an effective market solution.  

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Growth Engine Competition: Winner Can Earn Up To 500 TOKO Token!

Tokoin’s mission is Building MSMEs profile to guarantee their data integrity, Creating virtual ledger for each MSMEs transaction, Lower financial inclusion barriers by providing reputation scoring, A sustainable business model that enable MSMEs to perform in higher scale and Increasing the economic capability of the whole MSMEs ecosystem.

Our bounty program is our program to introduce our token, TOKO token. Aimed to promote, the bounty hunters will earn TOKO token as reward. The reward will be spread after we have finished our offering phase.

To participate, bounty hunters must promote contents related to Tokoin promotional such as:

Growth Engine Reward

Step-by-Step Guide:

  1. Head off to the Tokoin website.
  2. You will see the popup in a few seconds
  3. Signup and verify your email
  4. Login and complete different social tasks until you reach the bronze reward
  5. Scroll down and save your ETH address
  6. Earn up to 500 TOKO Tokoin for inviting friends

Blog/Article Campaign

Publish a review article about Tokoin project with following requirements:

  1. Write original articles in Bahasa Indonesia or English
  2. Upload to your blog page: Medium, Website, Blogspot or Steemit
  3. We will approve the best 150 articles
  4. We will reward every chosen article with 15 TOKO Token
  5. To publish an article, filling this Google Form is mandatory.
  6. Reward will be given when TOKOIN already listed in the exchange
  7. Newsletter subscribing in our website: is mandatory

Video campaign

  1. Create video related to Tokoin promotional materials
  2. Video can be made in the form of: whiteboard, Tokoin C-Level interviews, public testimonials
  3. Video can be made in Bahasa Indonesia or English
  4. Upload to general video platforms such as Youtube or Vimeo
  5. We will approve the best 150 videos
  6. We will reward every chosen video with 50TOKO Token
  7. To publish video, filling this Google Form is mandatory.
  8. Reward will be given when TOKOIN already listed in the exchange
  9. Newsletter subscribing in our website: is mandatory

Tokoin in Making Indonesia 4.0

General Director of IKMA, Gati Wibawaningsih took picture with Tokoin team in the event of
E-Smart IKM 2019: IKM Go Digital in Surabaya, Friday (29/3).

Tokoin is a part of the socialization integrated in the mapping of Making Indonesia 4.0. Along with Directorate General of Small Medium and Various Industry (Dirjen IKMA) from The Ministry of Industry, Tokoin contributed to the digitization and literacy for the MSME. Currently, in this era towards the Industrial Revolution 4.0, MSME are still left behind in the aspect of information and technology. Through this educational event, Tokoin penetrated deeper to the MSME sector to widen the paradigm of digital utilisation with the blockchain technology.

Tokoin joined in the event held by Directorate General of Small Medium and Various Industry, in the mission to educate the audience about the utilization of digital technology in terms of the MSME business operation,such as product selling, product shipping, payment system, supply chain management, and also promotion channels.

This event titled “E-Smart IKM 2019: IKM Go Digital”  is an endeavor from the government of Indonesia to convey and clearly articulate the policy and governance program in terms of developing the MSME industry. The utilization of information technology is supposed to be an opportunity for MSME to be a part of the emerging market and maintaining the sustainability of their business.

Located in the Dyandra Convention Hall Surabaya, around 1000 audiences from the active MSME actors got the chance to widen their knowledge about the current trend and latest development of the information and technology industry. Tokoin also present to introduce itself to the MSME as a platform that assists business expansion in this digital era through the blockchain platform, to accelerate the MSME in emerging market.

Tokoin team were answering questions from audiences in Surabaya event of
E-Smart IKM 2019: IKM Go Digital.

From Tokoin introduction, Tokoin earned positive response from the audience, as can be seen from the active dialogue that happened in the Tokoin information booth. The concept of Tokoin also receives positive feedback from Gati Wibawaningsih, General Director of IKMA. According to her, “The concept of Digital Identity from Tokoin is a specific solution to support government’s program.”

By directly meeting the MSME actors through educational events, Tokoin believes that the public awareness of Tokoin project will grow more solid. This really encourages Tokoin to facilitate the MSME industry with the precise and effective usage of the blockchain technology.

Tokoin and Sahabat UMKM Ties-In Partnership

The potency for developing a country’s economy lays within the MSME sector. In Indonesia, there are more than 50 millions of MSME operating currently. They contribute significantly to the gross domestic products, and provides economic growth yearly.

To optimize its strength, MSME can use the fellowship approach from one another. To obtain beneficial access to networking which lead to fruitful partnership, Sahabat UMKM is the association community of Indonesian MSME to facilitate MSME to work together to boost their confidence in the bigger business ecosystem.

In Sahabat UMKM, Indonesian MSME actors are able to explore their capability and opportunity to cultivate their business potency through activity and networking. Their aim to support MSME is administered through communication, thoughts and experience sharing in a professional forum.

Sahabat UMKM provides knowledge sharing through programmes which goal is to encourage business progress in the near future and to expand market networking for the products. Saihabat UMKM also aims to improve the competitiveness of their members through mentoring, training and coaching.

One of the missions of Sahabat UMKM is to bring the digital literation for MSME in this era towards the 4th Digital Revolution. Digital market holds the highest imaginable opportunity for MSME to hunt for the bigger chance of expanding their market. Sahabat UMKM is also the right support for MSME actors so they are also able to find the right channel that they need, as the Sahabat UMKM acts as a bridge between the MSME and the government and private institutions as well.

With the same vision, Tokoin intends to facilitate MSME with bigger opportunity to develop and wider network of ecosystem. By partnering with Sahabat UMKM, Tokoin believes that there will be a lot of MSME will be forwarded to the modern business ecosystem. Also, as we believe that the condition for MSME to develop grows more flourish, Tokoin with Sahabat UMKM is ready to  embrace more newcomers in MSME industry, as it is also the sign of highly innovative society which lead to the economic progress.

With the name alike, Sahabat UMKM which literally means MSME companion, is a strategic partner to develop competitive MSME and a proper partner and alliance for Tokoin to solve the challenge that MSME face in the current situation.