Thanks a lot for actively participating in the Tokoin AMA held on 11th March 2020 at the Game of Bitcoins Channel. We really appreciate all your support. This post is a recap of the entire session held with Tokoin
We have with us Ignasius Michael (General Manager)
Ignasius - My name is Ignasius Michael, I'm the general manager in tokoin. At Tokoin, I'm handling the finance and operation for day to day and market. Before joining Tokoin, I’m having 3 years experience in the stock and futures market and 2 years experience in b2b ecommerce.
Q1. Tokoin’s roadmap says by Q3 2019 Tokoin will onboard various partners (warehouse, financial) and operations expanded to 10 Indonesian tier-1 cities, what is the status of these development?
For current situation, we already achieve 60% from all the target. We have some several local bank that we collaborate with and 1 government logistics. For government logistics, they got target from the government to help 79000 village across Indonesia. Every village got fund support from the government for 1 billion rupiah. We will help all the transaction that happen in 79000 village across Indonesia
Q2. How many businesses or financial institutions are you guys already working with right now? At a high-level, can you please share some of Tokoin’s plans to scale in the future?
For partner itself already reached 20 partner that we collaborate with. In Financial Insitution, we have 2 local bank that support MSME. To scale, we collaborate with some franchise master or some partner that already have ground level army in the market. This is to fasten the process for our product implementation
Q3. How does the platform ensure privacy of the data stored on-chain and make it only visible to relevant entities like suppliers and financial institutions that the MSMEs need to interface with?
For brand or financial institution that need access through the MSME data needs our token and must get MSME permission. So, basically it's permission infrastructure inside our ecosystem. If the MSME didn't give the permission than you can't access the data
Q4. Tokoin offers great solutions for MSMEs, but not all MSMEs accept blockchain solutions. So what will Tokoin be to convince them and make blockchain mainstream in Indonesia and globally?
Well blockchain definitely help MSME. Especially for supply chain business. To make it more well known in the market, we collaborate with government local cities
Q5. What are Tokoin’s top milestones set for completion this year or in the following years? And how does TOKOIN look like in 2020 and more when listed on new exchanges?
Our focus this year is to implement our product in the market. Some several updates in our product will release in this month. We will have 3 products that will help MSME in their daily life. Listed new exchange means opening new market, we have some several upcoming exchange in our pipeline for the next 7 months
Our goals at the end of 2020 year is to reach 100.000 users
Q6. How TOKOIN users are able to mine by using 5 different mining algorithms. What makes this feasible? What are the counter challenges of this?
Not open for mining
Q7. How does the TOKO token work in your ecosystem, and is there any benefit for investors to buy TOKO in the long run?
Depends on what are you looking for. Every project always tell themselves is good, but they key to stand in the long run is through product and implement the product in the real life. We have some several use case that will run in couple month from now
Q8. In 2020, which will be development direction and plan for Tokoin in near future?
Focusing on product implementation and embed some DeFi project to collab with us
Q9. When are You Planning to Partner with more Projects ? When is the main-net as planned will Go Live ? When Steps are you Adopting to Expand Tokoin presence in India ?
First thing first, we aren't making our main net. Second, We can't do it alone that's why we are partnering with other blockchain project and that's the beauty of the blockchain. Indonesian market is huge why not sharing, instead we competing let's collaborate together. For now, we will focus in Southeast Asia
Q10. I know you offer loan services through third party, can you list examples, and how well are people using the loan services??
Tokoin's not offering loan services, this is different with what we are doing. We are profiling the MSME
Q11. What are the incentives for MSMEs and holders for holding TOKO in long term and how to encourage them buy TOKO?
They need Toko to enter into our ecosystem
Q12. According to whitepaper, Tokoin project is working in Emerging countries like Indonesia.. But, there are many emerging markets in Asia too like India, Vietnam, etc So, do you have plans to establish your project in that countries too?
Of course, for now we will focus on our homeland in Indonesia. Next, will open in vietnam and phillippines. India after we succeed conquer the southeast Asia market
Q13. In the future, do you think Tokoin will become the largest digital currency exchange in the world? If so, what will make you stand out from your competition in the market for now?
we always try our best
Q14. I really like the part where tokoin steadily completes the roadmap. But there are many questions. How are the tokoin teams earning from decentralized platform tokoin projects? Is it possible to continuously develop the tokoin team without income?
We have some other way to monetize and get some money
Q15. It is known that Tokoin's solution not only focuses on MSMEs but also aims to apply mass blockchain. Can you tell us some partners who help Tokoin in adoption? Who is the latest partner with Tokoin?
We collaborate with global project from Indonesia focus to enter energy industry (renewable energy)
Q16. Why did the Tokoin choose Biki exchange for its upcoming token launch, known BiKi with recent successes but hasn't been joined by many investors yet, Why not Kucoin, Huobi or Binance exchange ?
We already got listed in Kucoin. For Huobi and Binance already in our next pipeline. The reason why we want to get listed in Biki because we have the same vision, try to enter Korean market.
Q17. Tokoin just started in 2019 and it has achieved so many groundbreaking milestones in the world stage such as having multiple partnerships with government institutions and it managed to be listed in two of the biggest exchanges in the world, namely KuCoin, Bitmax and BIki. Can you tell us how you were able to achieve all these milestones in less than two years of your existence?
What strategies will you adopt in securing more relevant partnerships in the future?
We can achieve all of that through our hardship of all the members. To make it more faster, we always open to collaborate with global project that want to expand their market in Indonesia
Q18. TOKOIN looks good but it confuses me that there are so many other Blockchain projects. What should I pay attention in TOKOIN to give it the importance it deserves? What are you planning to achieve with your project?
It's true that there's a lot of blockchain project. We are trying to help MSME to create their digital identity and credit scoring in emerging markets. Most of the MSME don't have good credibility in their data so make them hard to expand their business
Q19. Who are your potential customers and which markets are you targeting on?
MSME and focusing on Southeast Asia
Q20. Previously, the cryptocurrency phase in Indonesia was not going well. Many scam projects have emerged in Indonesia. How did you manage to get out of such an environment? Tokoin made a big leap. It was a great success in a short time. Were you expecting this success?
There's a lot of scam project not only in Indonesia but in the world. Well, we do come from Indonesia, but we are trying to change the view from all people and investor about Indonesia. We always try our best into this position and it's not easy.
Q21. Are there any new partnerships and interesting upcoming use-cases?
Yes, there is. Just as we announce shortly, we collaborate with Baran a local project focus on renewable energy in Indonesia and there's some users already using in the ecosystem. Later on, we will try to collaborate in transferring the energy
Q22. On March 11, Tokoin will be listed in exchange BIKI! I congratulate your company on this event! But I'm interested in why you chose BIKI? What is this platform interesting for you?
Is Tokoin going to focus in the future not only on MSMEs, but also on the blockchain in other sectors? And what markets do you target in the near future?
Thank you, yes a lot of question asking why we try to enter Biki. Biki have the same vision with us and the reason why we want to get listed in Biki because Biki are expanding into Korean market. The same like we do
yes, we are going to enter not only focus on MSME. But, it'll be more specific industry, so all industry is our target
Q23. Team is concerned about paying airdrop rewards, AMA ... will affect the price of Token TOKO after listing on Kucoin exchange? What plan does the team have, signing with any investment fund to stabilize the price of token after listing?
To stabilize the price you need a longterm plan and that is your product. If you are just focus on stabling the price through investment fund, your project won't gonna long last
Q24. The total supply of TOKO is 2,000,000,000 TOKO .Does the TOKOIN team have a plan ❤️ increase or decrease the supply? And how will that be done to manage the supply of TOKOIN?
Not increasing the supply, but decreasing the supply through our product. Right now, we are focusing on trying to use TOKO as a gas fee, from this fee we try to burn some token that used as a gas fee
Q25. The world is greatly affected by Covid19. So, are your projects affected a lot? Have the plans for this year been changed from the original?
There's no changing from the original plan. We always have some backups and scenario. I believe Covid 19 affect a lot of business
Q26. You said "TOKO token to be used as media for remittance so that DEFI can allocate their loans to MSMEs". In Banking sector before we could allocate loan to MSMEs in my country, we carry out a loan appraisal techniques which we call the 5 C's of credit. These are Capital, Capacity, Collateral, Condition and Character. Once an MSME does not meet up with this criteria, the loan won't be approved as it could be difficult to recover it back.
Q. Does Tokoin identity and credit scoring put all these things into consideration when establishing the identities and reputation of MSMEs? as these are indicators that determine whether a MSME is credit worthy or otherwise.
Definitely, we use an AI system that used to use by Barclays partner in UK
Q27. How optimistic are you of the future use-case of the Tokoin Token compared to when you started it? How will content on the platform be priced?
I'm very optimist in the future case. Government already keep an eye on us
Q28. You may hear these question alot but, Still I'm going to ask it :)
Tokoin are used to store of value asset, Crypto space are very volatility, price goes up and down.. how does you so sure $Toko investor will gain great investment from $Toko in long-term?
have to balance and create the demand. They key to achieve that is through our product and the implementation from the product in reallife business
Q29. What interests me is your revenue from many sources or only from those who want to use the information in the network?
Not only information, there are several other to monetize. We can get through advertisement
Q30. Binance community coin vote has a big impact to blockchain community and voting projects in positive affection even though project is not the winner. Will Tokoin have a plan to apply for this vote?
Yep, definitely stay tuned to our channel
Q31. What is the meaning of Tokoin name? What is the story behind the name
Tokoin means store. It's from Indonesian language
Q32. Do you have plans to spread Tokoin ecosystem across other continents. if yes, what are the strategies and how can I as a community member contribute to making it possible?
Yes, we do. To enter new market, we want to collaborate with some local project or partner to help us. There's no better partner than local
Q33. I think it's very hard to control to see outlook of new Tokoin website many people are waiting for it i would like to know which features are expected and what will you serve new to us?
new branding and new business model inside
Q34. Most people are not familiar with crypto. how you invite people around the world to use Tokoin platform and is that easy for people to use that?
Not directly tell the people using crypto. We provide a system for them that can help their daily task. So we provide a solution
Q35. What is the consensus algorithm used by your project TOKOIN and How it was picked?
ERC 20, we are using the most common one
Q36. Can you tell us some about your Token Metrics? Is there any Token Burn or reducing the tokens to increase the value of token price?
Yes, there is. We are developing on that through our second product TokoW
Q37. How is TOKOIN different from other projects in the crypto space? And what problems TOKOIN intends to solve in terms of achieving mass adoption if in the coming months?
We are focusing on digital identity and credit scoring
Q38. Can you share your experience you got from Tokoin-Kucoin mega meet up in Jakarta recently?
It's good to have and bring some of our partner onboard
