Tokoin.io – In the business world, the availability of market overview data could be a game-changer for entrepreneurs, especially sellers (brand companies). The data could be anything related to the market overview, including buyers’ behavior.
By having accessible data, sellers are able to drive their strategies in the right direction to buyers. In the B2B ecosystem, data about market behavior can help a brand company as the seller to precisely target their buyers with appropriate marketing strategies. The market overview data, such as buyers’ profiling, demographic and geographic segmentation, and the business sector of the buyers, could help them precisely distribute their products to the right buyers.
However, instead of utilizing data in order to reach the right buyers, brand companies in the traditional B2B supply chain system often use help from intermediaries to distribute their products. Unfortunately, this traditional system can cause disadvantages not only for sellers but also, most importantly, buyers.
Firstly, the existence of intermediaries will enlarge the supply chain. Products will not reach buyers directly because of the time delay. Secondly, some additional fees incurred will affect the price. In the end, buyers might turn to another distributor channel for similar products at a cheaper price.
Tokoin realizes how valuable data are and how intermediaries can cause so many disadvantages for the B2B ecosystem.
Let’s have a quick look at Facebook’s data leak in last April. According to reports from The New York Times and The Observer, a political consultant company, Cambridge Analytica, stole 50 million Facebook accounts. Using the data, Cambridge Analytica designed a software to predict and affect voters in the US’ 2016 election. This Facebook’s data leak is proof that data can be treated as a valuable asset. Data availability can affect the whole ecosystem, which, in Facebook’s case, points to that the data stolen might affect the election results. Meanwhile, in the B2B ecosystem, proper data availability gives many convenience benefits for both sellers and buyers all at once.
Another proof is from the economists’ world. They agree that the world’s most valuable resource is no longer oil, but data. As written in The Economist on May 6, 2017, “this abundance of data changes the nature of competition. With the existence of data, there are extra network effects. By collecting more data, a firm has more scope to improve its products, which will attract more users.” Indeed, the existence of data has given their users the “God’s eye view” of activities in the market and beyond.
Solving data absence to accelerate the ecosystem
In order to distribute products precisely in the business ecosystem, Tokoin acts in the ecosystem as a pool of data information associated with the need for distribution of goods. The existence of data would help the B2B ecosystem accelerate. The buyers in this ecosystem take a role as data suppliers to fill data demand from the sellers.
By taking a role as a data processor and data distribution platform, Tokoin implements the blockchain technology as its groundwork to avoid potential negative issues, such as system failures, data duplication, and even human errors. The blockchain is used to provide transparency through accurate buyer information, real-time market data, reputation, traceability, tracking, and, most importantly, a method to ensure purchasing commitment and allow global participation. Henceforth, this technology will create an efficient, secure, and trustworthy business ecosystem.
To be Tokoin’s beneficiaries, brand companies on Tokoin’s platform need to stack TOKO Tokens on Tokoin’s web-based application. Once brand companies stack the tokens, they gain access to the information data stored in the blockchain network. On the buyers’ side, Tokoin is able to distribute purchasing discounts from brand companies after they input basic information of their business profile as an initial action of purchasing activities on Tokoin’s mobile app.
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