Tokoin— Telegram AMA & QUIZ — March 9
On Monday March 9, we had the pleasure to welcome to our Telegram chat:
Oktafia Putri, Community Manager and
Ignasius Michael, General Manager of Tokoin.
Some sentences have been slightly edited for readability but the meaning has been conserved.
Present in this AMA were Oktafia Putri, Community Manager and Ignasius Michael, General Manager of Tokoin. They discussed Tokoin’s unique approach to supporting MSMEs and ensuring that they (MSMEs) built a digital identity and had a stronger credit rating. Under the business development section, they discussed the plans of expansion and adoption across Indonesia and other Asian markets. Tokoin aims to collaborate with other business institutions in their line of work to pool resources together for the growth of MSMEs.
Q — Alexandre R from GAINS: Can you tell us what you did before crypto, how you got into crypto and if you’ve had any other venture in crypto prior to being involved with Tokoin?
A — Oktafia: Hi. Before joining Tokoin, I worked in an international event management technology company. I have acquired experience in the field of international relations for the past 4 years. At first, I did not know anything about blockchain and crypto. After hearing what Tokoin was doing, it caught my attention. Having a huge interest in the marketing field, I found it exciting to help Tokoin in making “blockchain” well known, as well as mainstream for everyone, even to those people who had no idea about blockchain at the beginning (like me, before I joined Tokoin).
A — Ignasius Michael: My name is Michael. I’m the general manager at Tokoin. At Tokoin, I handle the finance and day-to-day operations. Before joining Tokoin, I had 3 years of experience in the stock and futures market and 2 years of experience in b2b ecommerce. I joined Tokoin because I’m interested in the blockchain industry and it has something in common with the stock and futures market. I love to take up challenges every day and I can find that here at Tokoin. Without a doubt, blockchain will become a future for every industry in the world, especially for Indonesia, an emerging country. Blockchain will have a significant impact for industry to grow bigger, because blockchain is very useful.
Q — Alexandre R from GAINS: Can you tell us what your role is at Tokoin and what the project is about in a few simple sentences?
A — Oktafia: I am currently a community manager at Tokoin. I am assisting the team to manage the community as well as the marketing efforts and campaign, both online and offline.
A — Ignasius Michael: In Tokoin, I am currently a general manager. I assist in all operations, financial, and token related stuff.
Q — Twitter user Mehmet Bey: What are the great achievements that Tokoin has achieved so far? What difficulties and risks did you encounter during the project implementation and what factors helped motivate you to overcome those difficulties?
A — Oktafia: Despite being in existence for a short period, Tokoin has achieved a lot of great things. Not only have we been able to tie partnerships with governmental bodies, we also managed to tie partnerships with international big corporations such as Pasar Polis, Sesame Open, Shyft, and many other companies. All the partnerships were made in order to create a massive adoption of Tokoin’s technologies for our targeted market. Locally, Tokoin has also achieved massive use and adoption of our PoS (Point of Sales) application, as well as our wallet that has actually been used by a big amount of users.
Q —Telegram user samuel: Why did you choose the ants as the Tokoin mascot? And what does the ant mascot mean to Tokoin?
A — Oktafia from Tokoin: You can find out more on our Philosophy behind choosing the ant as our mascot here.
Q — Telegram user Cardo Dalisay: What is the assurance that Tokoin is not a scam?
A — Oktafia from Tokoin: I have a simple tangible answer for you. A scam won’t be acknowledged or even partner with a government. We have this, not only with 1, but 3. ;)
Q —Telegram user fafafifi: What makes Tokoin different from other crypto loan projects and traditional loans? What is the maximum interest of a Tokoin loan? What happens if I exceed my due date?
A — Oktafia: We are not providing loans. We are providing a platform for MSMEs to create and build their digital identity that might be used later to look for loans. It is that way because at the very beginning, we see that not much attention is paid to MSMEs because they do not have any identity.
A — Ignasius Michael from Tokoin: We are not the one that will give the loan. We analyze the transaction and give them a digital identity and credit scoring. For loans, we collaborate with financial institutions.
Q —Telegram user Mikurana: What technology/architecture and consensus algorithm are you using?
A — Ignasius Michael from Tokoin: ERC-20
Q — Telegram user galaxy mime: Why do MSMEs need the TOKO token?
A — Ignasius Michael from Tokoin: The real question is not whether MSMEs need the TOKO token, but why MSMEs need our product. The TOKO token will generate and move in our product ecosystem. MSMEs need our product to create their digital identity and credit scoring for their financial statement.
Q — Twitter user Danail Stefanov (Crypto Lover): It is known that Tokoin has a very unique token burning mechanism. What benefits does this activity bring to the Tokoin ecosystem? Is it one of the ways to create value for $TOKO?
A — Ignasius Michael: The burning mechanism itself will bring value to the token: simple economics supply and demand. But we can’t just burn the token to increase the value if there’s no genuine interest on the side. To bring more value to the token, we will collaborate and tap into several industries. Later on, these industries will do well in our ecosystem using our token. This is where the token is needed. To thrive in our ecosystem, they need our token to operate.
Q — Telegram user David Prince: Are you currently planning on implementing any new use cases for $TOKO, in order to even further increase the utility of the token?
A — Oktafia from Tokoin: Yes of course, we are. We are literally making it mainstream for everyone.
Q — Telegram user Animal: Will Tokoin support staking in the future, and will there be staking rewards?
A — Ignasius Michael from Tokoin: We will support staking through our Tokow app. There will also be staking rewards. It will launch in due time. Stay tuned.
Q — Telegram user Animal: Why did you choose BiKi as the next exchange for $TOKO to be listed on? What does BiKi have in store for Tokoin?
A — Ignasius Michael from Tokoin: We want to expand to the Korean and Chinese markets. BiKi expanded their market to Korea and have some good connections there. The Korean government has already unbanned crypto and it will bring a new stage for cryptocurrency in Korea.
Q — Telegram user 🌸 Syrex |̲̅S̲̅V̲̅I̲̅P̲̅| 🌸: These days, many projects are moving to Binance Chain for faster & more efficient transactions. Will you consider moving to Binance Chain in the future?
A — Ignasius Michael from Tokoin: For sure, Binance is already in our pipeline.
Q — Sujit: How does Tokoin plan to ensure adoption of its technology in the long run?
A — Oktafia from Tokoin: We believe that the app that we are creating will be solving the main issues of MSMEs. It’s not just another app. It will be long lasting and useful for everyone. We are making blockchain (through our programs, features and products) as accessible as possible for everyone and also, as easy as possible for everyone.
Q — Telegram user Gabriel Angel: How do you plan to attract customers, especially cryptocurrency users from Indonesia?
A — Oktafia from Tokoin: We are reaching out to all levels and scopes of society here. That’s how we attract customers. We are making our programs and products as user friendly as possible.
A — Ignasius Michael from Tokoin: Additionally, our main focus is the real product that can help physical or online businesses in Indonesia.
Q — Telegram user Mayowa: Will Tokoin be useful only to physical businesses, how about online businesses?
A — Ignasius Michael from Tokoin: We support both online and offline. Our first online partner is the biggest b2b marketplace in Indonesia.
Q — Telegram user Erven James Sato: What do you think is the relationship between “Collaboration and Adoption”? How will you use the strategy of collaboration to achieve adoption?
A — Oktafia from Tokoin: We believe in collaboration because we think that to achieve big things, we cannot and should not do it alone. This also applies when it comes to “so called” competitors. Why divide a cake into so many pieces? It is better to collaborate together since we all have the same goal for the economy.
Q — Telegram user Arvind: According to your roadmap, you are planning to expand your local activities to Indonesia, Thailand, Vietnam and the Philippines for two years, then Europe or Africa? Did you research these markets and how fast can you tailor your solution to them?
A — Ignasius Michael from Tokoin: Yes, we do research these markets. To make it faster, we collaborate with local partners in every country.
Q — Telegram user ako si dogie: What are your plans to integrate in the Philippines? What are the strategies you would implement in the business sector?
A — Oktafia from Tokoin: We have the apps that are for MSMEs. We are trying to make it applicable not only here in Indonesia but also other countries that have a huge number of MSMEs, including Philippines. We’re on our way there.
Q — Telegram user fafafifi: India right now is legalizing crypto. Do you have any plan to create adoption in India? What are your strategies to support it?
A — Oktafia from Tokoin: We have done our research in India, actually, and we are crafting some strategies towards it. Stay tuned!
Q — Telegram user Erven James Sato: How is the lifting of India’s ban on cryptocurrency going to affect Tokoin?
A — Ignasius Michael from Tokoin: This is positive not just for Tokoin, but for all good projects out there. Now, the government would try to benefit from the use of blockchain technology.
A — Oktafia from Tokoin: 1 simple goal: massive adoption.
Q — Telegram user salsa Bila: Why did you decide to organize many AMAs across many channels?
A — Oktafia from Tokoin: We are trying to introduce ourselves into more and more communities.
Q — Gue Siapa: What is Tokoin doing to build a thriving community that truly cares and supports the project for the long term, not just for a temporary profit?
A — Oktafia from Tokoin: We are receiving feedback from the community, trying to understand what you guys are currently curious about and waiting for from us. That’s very important to us.
Q — Ellkay: What do you think is the greatest threat to the growth of Tokoin?
A — Ignasius Michael from Tokoin: Global macroeconomy challenges are a huge threat. Regulation is also a huge threat.
A — Oktafia from Tokoin: As a person who mainly handles the community of Tokoin, the greatest threat is skepticism: skepticism that goes around seeing a project only through their temporary view. We are planning and making our way into many great things ahead and the trust from our community would be a strong fuel for us.
Q — Telegram user Sergio ivankov: What are the things that we can expect from Tokoin in 2020?
A — Ignasius Michael from Tokoin: Stay tuned for our biggest implementation of our product through our local partner. Our target is to reach 100,000 users.
Q — Twitter user VyachCrypto: What are Tokoin’s plans for the next 2–3 years? Are you worried about the increasing number of competitors and increasing customer requirements?
A — Oktafia from Tokoin: Tokoin is preparing everything to make our adoption become as massive as possible. Like our big motto this year “making blockchain mainstream” :) Our plan for the next 2–3 years is generally to provide solutions for everyone and making blockchain as mainstream as possible. Trying to provide the market with not only 1 product but 3, we are trying our best to touch all segments of the market and users.
For the competitors’ side, we are not so worried about it. So far, we haven’t actually found a specific company that is doing exactly what we are doing. Moreover, instead of competing, we would like to collaborate with other business institutions that would probably be doing the same, since the aim is similar and we will all be assisting the economy to grow.
Q — Telegram user Sergio ivankov: How much time will it take for Tokoin to get into mainstream adoption and execute all the plans set for this project?
A — Oktafia from Tokoin: It won’t take too much time. We are seeing some light at the end of our tunnel already. ;) It’s going to be soon.
Thanks for coming in our group, Ignasius and Oktafia. It was nice hearing about how Tokoin has a vision of making blockchain mainstream and how you’ve already partnered with governments to help MSMEs by building their digital identity and credit scoring to finally facilitate the process of getting a loan.
Looking forward to your success, which would be the success of everyone who believed in this space! Where can we follow Tokoin’s progress and updates? — Alexandre R from GAINS
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