Industrial Revolution: Radical changes in the Industrial World, Implications on the Social Order – Since Prometheus stole the fire of knowledge from the gods on Mount Olympus and gave it to mankind, humans have not stopped fidgeting with the fire and creating striking innovations all throughout the evolution, including every innovation in the industrial revolutions which have brought people closer to a better life.

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Through Precise Utilization of Use Cases, Tokoin Helps MSMEs to Embrace Financial Inclusion – Many research studies affirm that the most hindrance to the growth rate of MSME business is the lack of access to funding from financial institutions. Without convenient access to the source of fund, such as bank credit, MSMEs’ business growth will be stuck at where they start off.

For example, a merchant who needs to double his profit has to double his moving capital. Usually, he will resort to using personal wealth or loans from close relatives. However, it doesn’t always work out well as planned. Commonly, he won’t get the exact nominal as desired in the first place.

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Providing Credibility Records, Tokoin Helps Vietnam’s MSMEs to Embrace Financial Inclusion

Tokoin on Vietnam’s Roadshow – Targeting the global MSME sector, Tokoin conducted a global roadshow to several countries, including Vietnam as the third country to visit. Following the visits to Hong Kong and Singapore, Tokoin’s introduction in Vietnam also received a warm welcome.

The Vietnam’s roadshow consisted of a panel discussion and a talk show presented by two speakers from Tokoin and two guests who are Vietnamese industry players.

Tokoin was represented by Reiner Bonifasius Rahardja as the CEO of Tokoin, and Gun Hee Lee and Michael Park from Blockcrafters Capital as Tokoin’s advisors.

“As a blockchain platform, Tokoin will provide MSMEs with a digital business ID and a digital ledger to record every transaction carried out by the MSMEs on our platform,”

Reiner said

Having a similar business culture to that of Indonesia, Vietnam’s industrial sector is also supported by MSMEs as the driving forces. As one of the developing countries in Asia, Vietnam has attained remarkable economic growth and sustainability. In line with the country’s economic development, Small- and medium-sized enterprises have also experienced exponential growth.

Small and medium-sized enterprises play a major role in Vietnam. Being the country’s economic driving forces, Vietnam’s SMEs account for 98% of all enterprises, 40% of GDP, and 50% of employment. The number of SMEs has risen by around 100,000.

However, despite those phenomenal achievements, Vietnam’s SMEs remain weak in terms of access to business solutions, such as funding and insurance. Credit access becomes a major concern for Vietnam’s MSMEs. Banks which provide commercial loans prefer to allocate their resources to larger firms rather than MSMEs. According to banks, higher default risks, the lack of financial transparency, and the lack of assets for a mortgage are major factors which prevent them from lending money to SMEs.

As a person who has for long been involved in the MSMEs world, Reiner really understands how difficult it is for MSMEs to accelerating their business.

“There are more than 400 million MSMEs in developing countries, comprising of more than 90% of the world’s businesses. Thus far, MSMEs have had difficulties in accessing business assistance from financial institutions. They are constrained by the requirements for the credibility of the business. And this happens because they can’t provide a complete record of financial transactions.”

said Reiner Rahardja

By using blockchain technology, Tokoin is able to assist Vietnam’s MSMEs in building credible credit scoring by recording every transaction.

“By combining a digital identity and a digital ledger, Tokoin will be able to provide MSMEs with credit scoring services. With proper technology implementation, Tokoin facilitates MSMEs to record every transaction as a set of data that can be used to achieve financial transparency. This technology provides MSMEs with valuable assets which help them to embrace economic inclusion,”

added Michael Park

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Exclusive Meet-up and Token 2049: Tokoin Receives Positive Responses in Hong Kong – For 2019, Asia has been acclaimed as the center of innovation for blockchain and crypto. This is indicated by the growing number of blockchain projects in Asian countries, such as Korea, Singapore, and China, making the region a hotbed of blockchain innovation and adoption.

To expand outreach in the international market, Tokoin visited various countries following the Global Roadshow agenda to introduce itself and establish networks in the wider blockchain industrial ecosystem.

The first visit was to Hong Kong, in which Tokoin’s team held an exclusive meet-up and took part in the 2019 Asia Crypto Week. In the Token 2049 event, Tokoin built its presence and built networks with industry players from overseas countries.

Tokoin’s exclusive meet-up was attended by around 40 people who are major blockchain industry players, including Ian Sullivan, a blockchain expert and start-up advisor, as well as c-level audiences and the representatives from CryptoFund.

Tony Tan from the New Century Global Center and the Token 2049’s sponsor remarked, “Tokoin has a very good business model and an ecosystem that is also very potential to develop. China also has a similar project, but in Indonesia, with a prediction of the business climate, the Tokoin project can develop more profitably.”

Aiming to support the industrial sector with targeted utilization of its use cases, Tokoin carries the mission to help MSMEs which often find it difficult to grow their business. Tokoin brings together the convenient ‘meet-the-needs’ concept between Tokoin’s users and its partners. It serves as a platform which optimizes blockchain technology to establish a valid identity for and reputation of MSMEs.

By using blockchain, Tokoin implements encryption that enables the system to process transactions faster but also in a more secure manner. It offers solutions that allow MSMEs to build a reliable profile as a reputable credit scoring with guaranteed security to access business solutions, such as funding, property credit, and business insurance.

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Visiting Singapore, Tokoin Aims to Meet the needs of Singapore’s SMEs sector – Asia has become a center of attention as a region where blockchain and business growth flourish hand-in-hand. Since the industry and blockchain meet the needs of each other, many sectors in emerging countries implement blockchain as the groundwork for their platforms, and these include Singapore’s business sectors.

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Tokoin Visit Vietnam as the Third Country on Global Roadshow – Aiming to support MSMEs to get easier access in order to accelerate their businesses, Tokoin conducts roadshows to several cities and countries which have the characteristics of an emerging market throughout Asia. After Indonesia, Hong Kong, and Singapore, today Tokoin’s team visited Vietnam.

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Collaborating With PasarPolis, Tokoin Provides Convenient Access to Insurance – Public awareness of insurance has been quite high. Since its introduction, many people have been interested in insuring their possession. In the current market, the best-selling insurance product is life insurance, but there are also many products available in the insurance industry, such as property and business insurance.

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Next Stop: Tokoin Visits Singapore in the Global Roadshow – After Hong Kong’s industrial sectors, Tokoin’s Global Roadshow reached its second checkpoint at Singapore. Becoming a major financial hub in the Asia Pacific region, Singapore has a long earned reputation as one of the world’s most advanced economies.

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Tokoin to Support the MSME’s Acceleration of Hong Kong Trading and Tourism Industry visiting Hong Kong as our first global roadshow to introduce Tokoin Platform. Hong Kong as one of the world’s leading international financial centres, Hong Kong’s service-oriented economy is characterized by its low taxation, almost free port trade and well established international financial market.

Hong Kong global trading flourished as they supported with the convenient supply chain industry, the shipping and logistics type of business. The fact was proven by the late 20th century, Hong Kong was the seventh largest port in the world and second only to New York and Rotterdam in terms of container throughput.

Not only well known for its trading industry Hong Kong also popular for its tourism industry. The tourism industry is one of the major pillars of the economy of Hong Kong.

In 2016, it contributed to around 5% of Hong Kong’s GDP and employed around 258.900 persons, accounting for about 7% of total employment. In 2017, total visitor arrivals rebounded by 3.2% over 2016 to 58.5 million, of which overnight arrivals rose by 5.0%. The Mainland continued to be the largest source market of Hong Kong, accounting for around 76% of our visitors. The total number of visitors rose further by 9.6% in the first quarter of 2018 over the same period in 2017, mainly bolstered by a 12.6% growth in Mainland arrivals.

Tokoin aims to support the industrial sector with the targeted utilization of its use-cases. As for Hong Kong, the logistics and property use-cases. The MSMEs who often find, it is difficult to grow the business because of the difficulty of expanding by opening a new branch, or for the business people who have the needs for convenient access to their supply chain business needs.

Tokoin can bring together for a convenient “meets the needs” between users and partners. As for the easy access to growing business through expansion, we can help you to generate the credibility of a valuable data record as your collateral.

As a platform that leveraging blockchain technology to establish Valid identity and reputation of MSMEs. We offer a solution that allowing TOKOIN users to build a trust-able profile with security for all stakeholders in the ecosystem.

In the world of MSMEs, there is one complex question that can`t be solved by the current system. Because of the needs of the transaction data capture, causing a roadblock in the MSMEs system itself. By leveraging Blockchain that emphasizing the decentralized capability to incentivize users who contribute to the network, by providing correct data is where TOKOIN roles play.

The replication multitude of transactions could be made within minutes and yet guarantee. Data integrity needed by the MSMEs. So they could leverage their business in a sustainable way.

By using blockchain it also means TOKOIN implement encryption that enables the system to transact faster but also secure.

Tokoin carries missions to help MSMEs to; built a trusted profile with integrity, providing virtual ledger for each users transaction, lower financial inclusion barriers, and increasing economic capability of the whole MSMEs ecosystem.






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Still Wondering, Why is it so Hard for MSME to Have a Business Expansion? Here’s Why!

The common problem who strain the growth of MSMEs often said is the difficulties to find the business fund. MSME lacks access to funding that strains them to expansion opportunities. World Bank studies say that there are around 200–245 million MSME that couldn’t earn business loan.

Though many have agreed that business loan will assist MSME to growth, still there are always happened rejection cases of business credit appliance.

There are two types of requirement stated by banks for MSME credit appliance; (1) The general requirement in the form of a legal document who will prove the validity of a business unit, (2) The credit appliance through Capital and Collateral.

Credit appliance through legal documents

Credit appliance requires the applicant to provide some documents in order to obtain credit or funding from financial institutions. On the first step which is the KYC, MSME couldn’t even fulfil the necessities. Many of the MSMEs are still operating in an unauthorized way, we call it “the informal” sector.

Lackness of legal documents also burdens them to do their financial report. They often fail to provide credible management and financial record. Not only the informal MSMEs, the formal MSMEs are also often couldn’t provide a proper financial and transaction record to be reported.

Even when they have already qualified in the term of economy capacity, document incompleteness of legal documents and transaction record of their daily business operation makes them still unbankable.

The capital and collateral credit appliance

Next, are Capital and Collateral. Most of MSME do not possess any property which can be utilized as collateral. Ironically for MSME, because they need this as collateral to obtain credit and funding in order to expand their business. Most financial institutions loan requires collateral as the mechanism of its mitigation risk.

This difficulties of credit absence situation often lead them to access individual credit, even sometimes with a high and unmeasurable interest rate. This could be harmful to MSME’s business growth.

However, there is another safer option for MSME to grow. Utilizing the technology infrastructure to make a structured, compiled record of their data in the form of valuable asset.

Tokoin facilitates the MSMEs with the processing and distribution of data between related participants of the digital business ecosystem. If only the MSME could provide a better, complete and competent data in the form of valuable asset, the bank could obtain substantial and appropriate information about the character and credibility of a business unit. In Tokoin, data information from MSME will be validated as the asset that contains values.