![IMG_20190921_120730.jpg](https://cdn.steemitimages.com/DQmPChguX63eXmUNHw98qPEhZzvgyyR2XmiQ3oYci3moCBX/IMG_20190921_120730.jpg)

In every country of the world, the Micro, Small and Medium Enterprises (MSME) is an important sector that can help to boost their economy quicker. The case of  Micro, Small and Medium Enterprises (MSME) should not be taken lightly; in a recent report published about the sector that contributed most, am surprised to see MSME on the top of the list. Am from the African region, my country usually publish the Gross Domestic Product report every month, and the MSME occupied up to 40% of the GDP market value. Unemployment is another economic issue which government cannot easily solve, meanwhile among the employed people in a country, 60% of them are under MSME, check more details [here](https://www.un.org/en/events/smallbusinessday/). So tell my why do we take MSME lightly? It is very unfortunate the MSME does not enjoy any financial support from either the government or financial institutes despite they are the sector that added most to the economy of a country. I think we are getting things wrong and there must be a resolution and amendment to throw more weight behind MSME.

The MSMEs are facing problems of acquiring finance from the banks and other financial institutions. If we do some feasibility study about this, you will realize that not less than 75% of them do not have access to credit and financial services.


WHY DO MSMEs ARE BEEN SHUNNED IN HAVING ACCESS TO FINANCIAL SERVICES?


The simple reasons for this is because the MSMEs 

- They do not have accurate financial records
- No tangible documents for verification 
- No measures to weigh the credit score
- No credit policy etc

Facts is that, before banks or other financial institutions could offer you credit or financial support, all I listed above are very important. Their inadequate standard to get access to loans and credit nor means to raise money usually make many MSMEs fold within a short period of time.

All these while, the government has been putting all measures to solve this problem, but their efforts are fruitless. Mr President of my country has formed many economy team to deliberate on how to solve the challenges, they came up with different policy but none of the policy could solve the problem. 


HOW CAN WE SOLVE THESE CHALLENGES?

In every problem, there is always a solution and the solution can only come if we can identify the source of the problem. Let me start by saying most MSMEs 

- Does not register their business digitally
- They don't have valid ID for verification
- Their business does not have bookkeeping records
- People can't even access them digitally
- No measures to know their credit score
- In short, they do not have data and information to get support once it comes to credit or other financial services.

The two (2) key issue about MSMEs are
- Verification 
- Transaction

Having identified the problem, we should talk about the solution. We should think outside the box now because most policy implemented by our government has failed woefully.

![IMG_20190921_120707.jpg](https://cdn.steemitimages.com/DQmPfubATGDokSbwpUH6it4h47xveyrYqZWNebgegXwBABG/IMG_20190921_120707.jpg)

HERE COMES A SUGGESTIONS


Just as the world is rotating, things are changing and revolution are been taken places. A revolution is really needed in MSMEs sector, and that revolution is digitizing the ecosystem. Almost everybody has access to the internet, business are done more online than offline these days. In order to achieve this ideology, an advanced technology is required and the only technology that is capable of doing this is blockchain. 
 
No doubt, blockchain is the possible solution to the challenges facing the MSMEs sectors which has given government headache to solve.

![IMG_20190921_120655.jpg](https://cdn.steemitimages.com/DQmQ9P15fPG7KhAxUwid3KEuckU1219zk9FyeXTHv3ZiHe3/IMG_20190921_120655.jpg)

HOW COULD BLOCKCHAIN SOLVE THOSE PROBLEMS?

The blockchain is the most secured and decentralized technology that can verify an identity without partial because it has a very high accuracy and transparency. The blockchain is also a technology that enhances a swift transaction digitally between one person to another without intermediaries. The blockchain has the potential to secure user's data and information and also make the user enjoys some privacy. So for an effective verification and ease payment system, blockchain is the answer. The blockchain technology is in a position to manage and secure someone's data for identity verification which will make them have access to financial services. Not only that, the blockchain make it possible for users to digitally from their comfort zone to execute transaction.


FINALLY, TOKOIN FOR THE SOLUTION

Having identified the problem and seen blockchain as the solution, implementing it into the MSMEs ecosystem is the next. Therefore, Tokoin has taken that advantage to bring a lasting solution to the problems encountering MSMEs industry. [Tokoin](https://www.tokoin.io/) is not just an ordinary platform, they have the biggest MSME market across the world. So now, Tokoin is developing a platform that will implement blockchain to address verification issue and effect executing of transaction. The Tokoin will build an ecosystem which will revolutionize the MSMEs economy where they will build their business records, register their business profile and have all necessary documents that will make them have access to credit and other financial services.

[Tokoin](https://www.tokoin.io/) functions as an identity management system which will solve challenges faced by MSMEs. The platform will help them build an identity and records which will qualify them for business purposes and their MSME business will gain more recognition. Building a credit profile is a hedge for you to have access to financial services.

![IMG_20190921_120719.jpg](https://cdn.steemitimages.com/DQmRrov15Y2pYNbjq3miBqmKZoLWDs3dwDFagetsrWWUm9y/IMG_20190921_120719.jpg)

HERE IS HOW THINGS WILL WORK OUT

[Tokoin](https://www.tokoin.io/) will stand as the pillars that connects all the ecosystem of MSMEs to form a strong and firmly partnership within themselves. The insurance firm, government, financial institutions and MSMEs business owners can operate together through this platform and they will all benefit from the platform. The insurance firm and the financial institutions can easily checkmate the business profile and other required documents which will enhance them to give out loans and credit to the needed MSMEs business owners. The government will have their own part to play and supports the MSMEs and at the same time generate their own revenue through this platform. You can join their [Telegram](http://t.me/tokoinglobal) group to ask more questions for further clarification



CONCLUSION

The MSMEs is one of the most important sectors in every country, they help to boost the economy GPB and they have the potential to reduce the rate of unemployment and provide jobs for the citizens. MSMEs is the engine of economic growth and that is why my weight must be thrown behind it.
MSMEs are the pillars of the large scale firm because they provide those large scale industry with the basic raw materials and some components needed to do exploit in their own field. Any country that want to tackle poverty must invested more on MSMEs so they can empower the people to break that yoke. All thanks to the people that innovated blockchain into this world and gratitude goes to Tokoin for implementing blockchain to solve issues faced by MSMEs industry.

![IMG_20190921_120638.jpg](https://cdn.steemitimages.com/DQmbj2yMn7nTs6j2r4etmyoSshiNKVudiDxrwzSYWxiyjK1/IMG_20190921_120638.jpg)

You can follow up more about Tokoin project through their social media

Twitter: https://twitter.com/TokoinOfficial

Facebook: https://www.facebook.com/TokoinOfficial

Medium: https://medium.com/@tokoin

Instagram: https://www.instagram.com/tokoinofficial



Writer's Information

Bitcointalk username: Romanbank

Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1968530