Emerging Market Challenges: Effective Data Use Via Blockchain

Micro, small and medium enterprises (MSME) is now the most anticipated sector to leverage within the ecosystem. In the past two decades, MSME have managed to face the challenge of entrepreneurship, problem solving and creativity while bringing big impact to the economy. Their important role for the economic aspect of a country can be seen from increasing gross domestic products including net export, which is the sign of a healthy and productive business ecosystem in a developing country within the general emerging market.

The MSME sector is rapidly answering the needs of the market. They have such a close relationship with the end user as they provide daily needs consumptions, from an automotive workshop quickly patching the tyre of a passing motorbike, to a retail shop in every corner for a housewife to fulfill her needs in her kitchen. Millions of transactions occur every second, generating a bulk of invoices, transaction receipts, numbers and product amounts which are scattered across excel pages and ledger reports.

From the perspective of mainstream industry, this type of information is valuable to determine its market consumption, user behavior and other valuable insights which can also determine general production, marketing and distribution. Every distribution and marketing process needs relevant information to specify the correct type of products to be dispersed to its target market. The availability of information in the form of compiled data has such a high value in the industry ecosystem.

Unfortunately, MSME’s as data providers do not have the infrastructure to generate valuable data from the information that they gather on a daily basis. Most of the data is left offline without key aspects such as exact time stamp and rating.

As an asset, data supposedly gives its owners and users advantages. But yet, weak security means the data can be easily stolen and misused by others. The benefit that should be collected by the data owner is therefore disrupted.

The exponential speed of innovation is nothing if it is not followed by a well-secured system. During this ‘tech-industrial phase’, security for digital assets is mandatory. The data security system that rewards the data provider does not yet exist. Big data is silo’d in the mainstream industry.

To provide MSME’s with the opportunity to maintain and utilize their data with the help of blockchain technology gives them enormous advantages in their respective industry. As the breakthrough technology, blockchain, with its tokenization assets, will help MSME’s to earn rewards that can build their business reputation… and eventually gain access to mainstream business growth opportunities provided by facilities such as funding, loans and property development.

Tokoin is offering technology and information to MSME’s, which in turn helps them to expand their business. There will be many business functions which can be fulfilled through Tokoin as the blockchain based platform. Through this utilization of blockchain technology, one of the areas of support which Tokoin provides is the facilitation of procurement privileges and multitude of opportunities for preferential access to loans, credit property and insurance support which are all crucial to general business expansion in the future.

Tokoin believes that this is the gateway to the financial inclusion where MSME’s can accelerate their progression according to their contribution to the economy. The fluency of market credit is increased with streamlined information that is built upon trusted and efficient blockchain technology.

Tokoin, accelerating the growth of micro, small and medium enterprises in emerging markets.

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