The Tokoin team has been at the top of their game for a while now, integrating new businesses and partnerships into their ecosystem. Bringing the South Asian business market closer together, Tokoin has been forging some incredible partnerships in the South Asian industry, with the aim of establishing mutually beneficial and lasting ties in the market.
Adding key players to their already extensive network, Tokoin has joined hands with an up and coming Singapore based business company, Shuttle One, as their newest business partner. The partnership establishes promises valuable technology exchange and marketing collaboration between the two entities. The company is mainly one that assists in the blockchain ecosystem, but it has been providing substantial technical support to the Tokoin team.
A few weeks ago,Tokoin participated in a workshop aimed at accelerating the growth of Micro, Small and Medium Enterprises (MSME), organized by the Indonesian Ministry of Trade. The event was held in Malang, on the 19th and 20th of June, 2019.
Tokoin recently participated in a meetup organized by XSQ, on 27th June 2019, at Beach Road, Shaw Tower (behind Suntech City). XSQ specializes in building hardware and infrastructure for blockchain development and operates its own data centers in Singapore. MakerDAO and ShuttleOne were the other participants in the event. The theme for the meetup was “Decentralized Finance: Its Impact & YOU”. The event was aimed at educating the audience about what Decentralized Finance means, and how it will impact our lives and MSME (Micro, Small & Medium Enterprises) sector in the near future.
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Tokoin.io –
What kind of crypto coin will be minted next? How would it be designed,
implemented, and kept under control to govern the revolutionary wave that can
shake the concept of investing as we know now?
Tokoin.io –
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.
Tokoin.io –
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
For further information, do not hesitate to contact us on:
Tokoin.io – 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.
For further information, do not hesitate to contact us on:
Tokoin.io – 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.
Tokoin.io – 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.
