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.
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Tokoin.io – The challenge which cooperatives face in this era of the fourth industrial revolution is how to keep playing a key role in empowering the nation’s economy. The rapid flow of global emerging markets afforded by the implementation of technology has inevitably forced cooperatives to adaptively respond to the ongoing changes unless they want to just be “gone with the wind”.
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.
roadshow consisted of a panel discussion and a talk show presented by two
speakers from Tokoin and two guests who are Vietnamese industry players.
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,”
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.
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.
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
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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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.
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
Tokoin.io – 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.
Tokoin.io 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.