MSMEs is one of the largest economic engine in the developing countries, one of which is Indonesia. Indonesian MSMEs contribute income-General 60.3% domestic product (GDP) and 97% for the national workforce.
However, MSMEs are still inseparable from the problem always hinder the growth rate of the respective businesses. MSMEs very difficult to get funding support from financial institutions. Up to 40% of MSMEs in developing country is not yet supported from the financial institutions.
Knowing this fact, Tokoin invited many different parties, from entrepreneurs, financial institutions and government to merge the idea, trying to outline the issues that MSMEs face. Through a public discussion entitled "Business Solutions to promote small and medium enterprises in developing markets."
WHAT IS TOKOIN?
Helping small businesses to achieve their potential by leveraging data. Face the real market. Tokoinprovide a platform to build valuable partnership which will bring you into the engaging ecosystem consists of collectible business profiles profitable for business expansion.
The Problems
Lack of financial support for start-ups: As it’s a common feature of all MSME’s that they lack strong financial support, collaterals and also enough cash inflow, this makes them unqualified to get loan from banks and
Inability to maximize data usage effectively: Data being generated by most MSMEs are supposed to be used effectively for the development of the business but most MSMEs don’t even understand these data, talk-less of maximizing its effective usage.
Electronic money is a digital currency or asset-based encryption technology to transfer value over the Internet. Electronic money as Bitcoins operate independently of the banking system and can be used in many countries as a store or exchange of value, including cash. The use of electronic money is the most popular buy and sell goods and services online. Electronic money represents a new way for small businesses to accept customer payments and even pay for the provider or supplier. However, electronic money is still relatively new, and many businesses do not know what to think about it. To help, this article discusses the development of electronic money, including how to accept it, the benefits and limitations and significance of taxation for small businesses. Electronic money provides a faster and less costly to accept customer payments when compared to traditional types of payments such as credit cards. Moreover, all electronic money transactions are final, reducing the balance of power away from consumers and more for the seller.
Blockchain not merely electronic exchange
The technology deployed blockchain not limited to electronic exchange of goods. Something like that happened in the past. Now, the blockchain is undergoing a revolution, blockchain 2.0 talk more about using blockchain in the business model.
Tokoin
Blockchain Blockcrafter experts from South Korea, Lee explained Gunhee business model of chain block in the foundation Tokoin is.
According to him, "Tokoin is another project, because Tokoin aims to create favorable conditions for the needs of MSMEs, which will encourage users to accept rapid and appropriate application. By answering these difficulties of MSMEs world entails, I am sure that will be a project Tokoin blockchain very beneficial for MSMEs industry.
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