Micro, small and medium enterprises also known as MSMEs are generally common this days and they contribute to significant income generation in the [emerging markets](www.tokoin.io) as well as employment across the world. They are recognized as one of the major sources of employment around rural areas and tend to employ the largest share of vulnerable sectors of the workforce, such as women and youths. According to data being given by International Council for Small Business (ICSB), it was found out that MSMEs are responsible for about 60-70% of total employment and 50% of GDP.

Challenges that currently face MSMEs development

Despite the importance of MSMEs in the world economic growth, the sector faces a lot of challenges and doesn't get the required support from its respective governments, financial institutions, banks and corporate bodies which in turn sluggishly delays their growth and development. These problems include

• Absence of adequate and sufficient banking finances

• Limited capital and resources

• Non available suitable technology

• Low production capacity

• Ineffective marketing strategy

• Unavailable data and credit reputation

• Limited expansion capabilities

• Difficulty in securing partnership

And many more.

To counter these challenges faced by the MSMEs, a blockchain driven platform called TOKOIN was created by brilliant minds and it came up with numerous solutions and key strategies so as to support this sector.

TOKOIN EXPLAINED

TOKOIN is a system that was designed so as to enable the growth and development of MSMEs so as to allow them to survive in the emerging markets. It makes use of the blockchain technology to record all the daily business transactions and data of its participants thus creating a business profile that can be assigned credibility scores. With this credibility scores, it will ensure that it's users will have access to the necessary funding and business expansion capabilities.

What makes TOKOIN different from other similar projects?

TOKOIN differs from other similar projects as it brings a very unique and modern system that allows MSMEs have the necessary fundings and partnerships as well as developmental growth.

It's very key features include

• Creation of a verifiable digital identity for MSMEs by compiling it's users data, business records, transactions so as to assign a credibility score and reputation.

• The usage of the blockchain technology to store the digital identity and data in a decentralized manner that cannot be tampered.

• Creates partnership opportunities as well as access to fundings from Tokoin partner financial institutions and banks. This will ensure the growth and development of the MSMEs and this partners will also contribute to the credibility score of the TOKOIN users.

• The TOKO token which is the native token of the platform and it serves as a medium for incentives when a TOKOIN user submits and validates his data. This token will be used by service provides to have access to the MSMEs data on the platform. It is a utility token and is an ERC20 token based on the ethereum platform.

Final Thoughts, will TOKOIN ever be enough?

With all the surmounting problems that have been plaguing the current MSMEs sector, the emergence of TOKOIN will bring out a revolutionary change that will solve most of the problems. Tokoin was designed in such a way that it will make use of the blockchain technology to create digital identity as well as access to funding and partnerships.

For more information and enquiry, visit any of the following links below:

Website
Whitepaper
Telegram Chat
Twitter
Facebook
Medium
Instagram
Linkedin
Quora

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Author's Bitcointalk Username: hamzeto
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