ICO Project: Tokoin builds platforms to help SMEs accelerate business through blockchain technology in the digital ecosystem

Tokoin - The internet network has indeed been digitizing the MSME business (Micro, Small, and Medium Enterprises). Without having to open many outlets, they can sell their products or services without the constraints of distance and time. However, MSMEs still find it difficult to get credit to increase the scale of their businesses due to the absence of credit scoring .

These conditions encourage Tokoin to help MSMEs. As is known this sector is the backbone of the Indonesian economy. This sector contributes 60.3% of GDP (gross domestic product) and 97% of the national workforce. Nevertheless, SMEs can still be separated from the classic problem, namely the difficulty of increasing the scale of their business. It is estimated that 40% of MSMEs in developing countries do not yet have access to financial institutions.

To overcome the above problems, Tokoin has built a platform to help SMEs accelerate their business.

"Through blockchain technology in the digital ecosystem, SMEs are facilitated to build business credibility from digital identity (digital identity) as a business profit and record system in digital ledgers (Digital Ledger)," said Tokoin CEO Reiner Rahardja.

With blockchain technology, Tokoin will record MSME business transactions systematically and accurately, then save them. All of these processes can later be used as credit scoring .

"By using the blockchain transaction activities become open and visible. If the transaction has entered the Blokchain system, it cannot be contested anymore, it cannot be changed, there is no 'false' invoice or deception, 'said Reiner.

He further explained, so far MSMEs have been difficult to get credit from banks because of various things, such as unorganized (unaudited) opening, no legal entity, no corporate account, and no collateral. With blockchain these various obstacles can be overcome, especially regarding recording transactions. Because all transactions on the blockchain are completely transparent and can be controlled together.

"With Blockchain there is no longer a term that banks no longer trust MSME accounting. Because in the blockchain everything is controlled. They (UMKM) have become confident in applying for credit to banks that have collaborated with Tokoin, "Reiner continued.

On the other hand, blockchain also helps banks and non-bank institutions that want to provide credit to banks. Banks will make it easier to conduct a credit worthiness analysis, so that the credit given is truly on target and avoids the occurrence of non-performing loans.

Tokoin targets MSMEs with a turnover of under Rp50 billion a year. At present, Tokoin has formed a strategic partnership with Ralali.com , which is claimed to be the largest B2B marketplace in Indonesia with a user base of 300 thousand.

Reiner said, cooperation with Ralali.com indirectly increases its platform adoption rate . Apart from Ralali.com , Tokoin also partners with Shuttle One from Singapore.Not only working on the Indonesian market, Tokoin which is the work of this nation's children is also planned to expand to other emerging markets such as Pakistan, Bangladesh, Thailand and the Philippines.

STORAGE ECOSYSTEM

These are users who are involved in Tokoin business activities. MSMEs as data providers, send their transaction data activities via Tokoin dApp. Tokoin process and validate data into valuable assets. Partners can get data with Tokoin tokens (SHOP).

SHOP TOKEN (SHOP)

Token Name: SHOP

ICO Token Type: ERC-20

Total Token Supply: 2,000,000,000 SHOP

Token Sales: 700,000,000 SHOP (35% Token Supply)

Hard Cap: $ 25,000,000

Soft Cap: $ 8,000 .000

ALLOCATION TOKEN

ICO Contributors - 35%

Industry Funds - 40%

Treasury - 10%

Team & Initial Contributors - 10%