Tokoin, a digital platform dedicated to accelerate the Micro, Small and Medium Enterprises (MSME) businesses by building credit scoring through blockchain data distribution, today announced its partnership with Tomochain, a company focusing on building an efficient blockchain infrastructure for decentralized applications, token issuance and integration.
This agreement will lead to possible integration for Tokoin to build a scalable blockchain infrastructure provided by Tomochain, trustworthy by transparency and auditability, and fast and easy token integration. Tomochain is compatible with Ethereum Virtual Machine-based protocol, to generate the public chain as well as the private-chain, and the cross-chain token transfer.
This partnership unison with Tomochain, an innovative solution into the scalable blockchain that will be able to support thousands of transactions per second is an anticipation to the wave of Internet of Value. Welly Salim, CTO of Tokoin stated that,
“In Tokoin, we have committed to choose the best protocol as our base. The chosen protocol has to be foolproof, scalable yet compatible with the best current SmartContract technology, Ethereum. That is the reason we are partnering with TomoChain because TomoChain is potentially able to fulfill all the qualifications. ”
Regarding this partnership declaration, Founder and CEO of TomoChain, Long Vuong stated that
“We are glad to work with Tokoin to explore possible integration of Tokoin’s platform on TomoChain. Via our conversation over months, we believe Tokoin is well-positioned in its segment in Indonesia, and South East Asia. The partnership will benefit both parties in many fronts over coming years.”
With this partnership, Tokoin can offer for MSME, the best of data storage and scalable credit scoring. Through decentralized application, MSME as users can rapidly store and partners can acquire trustworthy data, while at the same time freeing users from redundant tasks of uploading and maintaining data. By leveraging the power of automation, the process in the ecosystem can increase agility, easily access relevant data and the cross-chain token transfer can facilitate the journey to loan credit compliance with credit scoring.
Tokoin is a blockchain technology-based platform that establishes identity and reputation of MSMEs as an acceptable credibility scoring for suppliers and financial institutions. Tokoin provides digital infrastructure to build Digital Business Identity. Set of data containing KYC process, routine transactions, behavior records are stored in the Decentralized Ledger. Tokoin creates an ecosystem for the MSME to actualize their business operation and to utilize the data from their transaction as valuable asset. The valuable asset containing set of MSME data is appropriate as credit scoring to comply with business services requirement such as loan credit, logistic services, product sourcing and business insurance.
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