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© 2020 Tokoin. All rights reserved.
Table of Contents

Disclaimer …………………………………………………………………………………………………………………………………..2
Abstract …………………………………………………………………………………………………………………………………….. 5
1. Background ………………………………………………………………………………………………………………………………. 7
1.1. Industry Overview …………………………………………………………………………………………………………. 8
1.2. Problems ……………………………………………………………………………………………………………………….. 9
1.3. Challenges …………………………………………………………………………………………………………………… 13
1.4. Solutions …………………………………………………………………………………………………………………….. 13
1.5. Our Mission ………………….……………………………………………………………………………………………… 15
2. About ………………………………………………………………………..…………………………………………………………….. 16
2.1. Overview ……………………………………………………………………………………………………………………… 17
2.2. Value Proposition ………………………………………………………………………………………………………. 17
2.3. Characteristics of Tokoin ……………………………………………………….…………………………………. 18
2.4. Ecosystem …………………………………………………………………………………………………………………… 19
2.5. How to a Get Digital Identity …………………………………………………………………………………….. 22
3. Token Economy ……………………………………………………………………………………………………………………... 23
3.1. TOKO Token ………………………………………………………………………………………………………………… 24
4. Product & Technology …………………………………………………………………………………………………………… 25
4.1. Technological Aspects ……………………………………………………………………………………………… 26
4.2. Products ………………………………………………………………………………………………………………………. 28
4.3. Features ………………………………………………………………………………………………………………………. 29
5. Roadmap…………..…………………………………………………………………………………………………………………….. 30
5.1 Roadmap …………………………………………………………………………………………………………………………… 31
5.2 Team …………………………………………………………………………………………………………………………………. 32
6. Business Partners ………………………………………………………………………………………………………………….. 35

PAGE 1
 Disclaimer
PLEASE REVIEW CAREFULLY THE PRESENT SECTION OF “DISCLAIMER OF LIABILITY”. IF YOU
HAVE ANY DOUBTS AS TO WHAT ACTIONS YOU SHOULD TAKE, WE RECOMMEND THAT YOU
CONSULT WITH YOUR LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S). No part of
this Whitepaper is to be reproduced, distributed or disseminated without including this section
“Disclaimer of Liability”. The sole purpose of this Whitepaper is to present Tokoin and TOKO Tokens
to potential Token holders in connection with the proposed ICO. The information is provided for
INFORMING PURPOSES only. It may not be exhaustive and does not imply any elements of a
contractual relationship or obligations. Despite the fact that we make every effort to ensure the
accuracy, up-to-dateness, and relevance of any material in this Whitepaper, this document and
materials contained herein are not professional advice and in no way constitute the provision of
professional advice of any kind. Furthermore, Tokoin reserves the right to modify or update this
Whitepaper and information contained herein at any moment and without notice. To the maximum
extent permitted by any applicable laws, regulations and rules, Tokoin does not guarantee or accept
legal responsibility of any nature, for any indirect, special, incidental, consequential, or other losses
of any kind, in tort, contract or otherwise (including but not limited to loss of revenue, income or
profits, and loss of use or data), arising from or related to the accuracy, reliability, relevance, or
completeness of any material contained in this Whitepaper. Furthermore, Tokoin does not make or
purport to make, and hereby disclaims, any representation, warranty, or undertaking in any form
whatsoever to any entity, person, or authority, including any representation, warranty or undertaking
in relation to the truth, accuracy, and completeness of any of the information set out in this
Whitepaper. You should contact relevant independent professional advisors before relying or
making any commitments or transactions based on the material published in this Whitepaper. This
Whitepaper is not subject to any legal system and is not governed by any law. No regulatory
authority has examined or approved of any of the information set out in this Whitepaper, and no
such action has been or will be taken under the laws, regulatory requirements, or rules of any
jurisdiction.

PAGE 2
 Disclaimer
The publication, distribution, or dissemination of this Whitepaper does not imply that the applicable
laws, regulatory requirements or rules have been complied with. You do not have the right and
should not buy TOKO Tokens if you are: (i) A green card holder of the United States of America, or
(ii) a citizen or a resident (tax or otherwise) of the United States of America, Puerto Rico, the Virgin
Islands of United States, or any other possessions of the United States of America, Singapore,
People’s Republic of China or South Korea, or a person of that state, or (iii) a citizen or resident (tax
or otherwise) of any country or territory where transactions with digital Tokens and/or digital
currencies are prohibited or in any other manners restricted by applicable laws. (“Person” is
generally defined as a natural person residing in the relevant state or any entity organized or
incorporated under the laws of the relevant state). Purchased Tokens cannot be offered, distributed,
resold or otherwise alienated by their holders to mentioned persons. It is your sole responsibility to
establish, by consulting (if necessary) with your legal, tax, accounting, or other professional
advisors, what requirements and limitations, if any, apply to your particular jurisdiction and ensure
that you have observed and complied with all restrictions at your own expense and without liability
to Tokoin. TOKO Tokens are not and will not be intended to constitute securities, digital currency,
commodity, or any other kinds of financial instruments and have not been registered under relevant
securities regulations, including the securities laws of any jurisdiction in which a potential Token
holder is a resident. This Whitepaper is not a prospectus or a proposal, and its purpose is not to
serve as a security offer or request for investments in the form of securities in any jurisdiction.
However, in spite of the above, legislation of certain jurisdictions may, now or in the future,
recognize TOKO Tokens as securities. Tokoin does not accept any liability for such recognition
and\or any legal and other consequences of such recognition for potential owners of TOKO Tokens
or provide any opinions or advice regarding the acquisition, sale or other operations using TOKO
Tokens, and the fact of the provision of this Whitepaper does not form the basis of or should not be
relied on in matters related to the conclusion of contracts or acceptance of investment decisions.
This Whitepaper does not oblige anyone to enter into any contract, to take legal obligations with
respect to the sale or purchase of TOKO Tokens, or to accept any cryptocurrency or another form of
payment.

PAGE 3
 Disclaimer
Potential owners of TOKO Tokens are advised to contact relevant independent professional
advisors on the above matters. Certain statements, estimates, and financial information contained
herein constitute forward-looking statements or information. Such forward-looking statements or
information involve known and unknown risks and uncertainties, which may cause actual events or
results to differ materially from the estimates or the results implied or expressed in such
forward-looking statements. Furthermore, all examples of calculation of income and profits used in
this paper were provided only for demonstration purposes or for demonstrating the industry's
averages. For the avoidance of doubt, nothing contained in this Whitepaper is or may be relied on as
a guarantee, promise, representation, or undertaking as to the future performance of Tokoin and/or
TOKO Tokens, and/or a promise or guarantee for future profit resulting from the purchase of TOKO
Tokens. TOKO Tokens cannot be used for any purposes other than as provided in this Whitepaper,
including but not limited to any investment, speculation, or other financial purposes. TOKO Tokens
confer no other rights in any form, including but not limited to any ownership, distribution (including,
but not limited to, profit), redemption, liquidation, property (including all forms of intellectual
property), or other financial or legal rights other than those specifically set forth below. While the
community's opinions and feedback can be taken into account, the possession of TOKO Tokens
does not give any right to participate in decision-making or any direction of business related to
Tokoin’s services. The section "Risk Factors" below does not include all risks that Tokoin project can
face. While the Tokoin team does their best to identify main risks, you are advised to do your own
risk assessment before making a decision on purchasing TOKO Tokens. English language of this
Whitepaper is the primary official source of information about TOKO Tokens, and any information
contained herein may from time to time be translated into other languages or used in the course of
written or oral communications with customers, contractors, partners, etc. In the course of such
translation or communication, some of the information contained herein may be lost, corrupted, or
misrepresented. In the event of any conflicts or inconsistencies between such translations and
communications and this English language of Whitepaper, the provision of this English language of
Whitepaper as the original document shall prevail. By continuing reading this Whitepaper and/or by
making any further steps related to solicitation of information about Tokoin’s ICO and\or the
purchase of TOKO Tokens, you confirm that you have read, understood, accepted, and agreed with
the above section "Disclaimer of Liability".

PAGE 4
 Abstract
Technology is known to shrink time and space. Hence, businesses are always advancing their
processes using technology to achieve efficiency and overcome competition.

One of the latest technologies to enter the global marketplace is Blockchain. This technology
was developed back in 2009 as a distributed ledger of transactions; it works as a platform to
facilitate the distribution of information between participants involved in a network by creating
a shared database. Data distributed on the Blockchain is a valuable asset, and blockchain acts
as a system that secures the data.

Every business transaction consists of a set of data, among which are the participants, buyers
and sellers, orders, payment method, the amount of discount, and detailed payment invoices. In
an online marketplace, the set of data is stored centrally on the marketplace’s platform. By
adapting the data in a blockchain-based platform, all information is accurately recorded using
cryptography and stored in blocks.

Tokoin aims to become the highway of data distribution for trading ecosystems. By recording
transactions on Tokoin, all participants involved are guaranteed a secure ecosystem of
blockchain with Tokens as signs of credibility scoring. Every participant will benefit depending
on his/her own needs. Partners get relevant data, while users, as downstream participants,
benefit from business expansion and funding opportunities.

In the transaction stage, Tokoin provides a permanent record of information and transactions.
The accuracy is guaranteed, and each transaction recorded is traceable and immutable. Tokoin
will operate as an infrastructure that stores data in a decentralized manner. After MSMEs as
users input their profile and transaction data properly, they can secure their reputation profile.
As a note, data from users will be validated as valuable assets. Partners as service providers
stack Tokens to acquire the data to determine the credibility of their prospective clients.

We made an important positive development to welcome more participants in our ecosystem.

With the proposed ideas and approach to utilize data distribution for credit scoring and
business growth, Tokoin aims to bring an elevation in the economic growth by leveraging and
sustaining MSMEs as the powerful driver of a country’s economy in the emerging markets.

PAGE 5
 ”
The tragic truth is, there is no
infrastructure that would aid
modern MSMEs to establish
stronger digital capabilities to
seize growth opportunities and
valid reputation

PAGE 6
 BACK
GROUND
Industry Overview 1.1
Problems 1.2
Industry Overview 1.1
Unavailability of Data 1.2.1
Problems 1.2
High Barriers to Funding 1.2.2
Unavailability of Data 1.2.1
Scaling Up the Developing Countries 1.2.3
High Barriers to Funding 1.2.2
The Absence of Reputation 1.2.4
Scaling Up the Developing Countries 1.2.3
Challenges 1.3
The Absence of Reputation 1.2.4
Solutions 14
Challenges 1.3
Ecosystem 2.4
Solution 1.4
Establishments of Business Profiles 1.4.1
Establishment of Business Profile 1.4.1
Provisions of Access to Funding 1.4.2
Provision of Access to Funding 1.4.2
Scaling Up through Access to Expansion Opportunities 1.4.3
Scaling Up through Access to Expansion Opportunities 1.4.3
Mission 1.5

PAGE
PAGE 77
1.1. Industry Overview

Known as the key economic driving force behind developing countries, MSMEs have also become
the growth and innovation drivers for global economic expansion. They account for 90 percent of
the world’s registered businesses and have made significant contributions to production, job
creation, exports, and the bridging of income gaps, particularly in developing economies. Having
unique characteristics and being small-sized, they are highly flexible, which makes them better than
corporations at adapting to the rapidly changing business environment.

According to the United Nations (UN), there is no universally accepted definition for the Micro,
Small, and Medium Enterprises (MSMEs).1 Each country has a different definition based on many
characteristics that differentiate them from other business segments. Indonesia classifies MSMEs
according to the MSME Act of 2008, which is based on asset possession and annual revenue of the
companies. Accordingly, an enterprise is deemed micro in size if its annual revenue is less than
IDR300M (~C$28,000), considered small with an annual revenue of between IDR300M and IDR2.5B
(~C$234,000), and regarded as medium if it generates an annual revenue of more than IDR2.5B.

Excluding unregistered entities, MSMEs alone have contributed up to 40 percent of GDP in emerging
economies and up to 60 percent of total employment.2 The governments of many countries have
also put the growth of MSMEs as a top priority, intending to create 600 million jobs needed by 2030
to meet global demand. However, there is still a question of how existing MSMEs will sustain and
survive in today’s economy as 40% of formal MSMEs in developing countries have unmet financing
needs to support business growth and day-to-day operations.3

Indonesia is one of the Southeast Asian countries with huge untapped MSME potential. In fact, the
Ministry of Communication and Information Technology states that Indonesia has 59.2 million
people currently running MSMEs.4 The increased number of MSMEs each year has raised the ‘ease
of doing business’ indicator and boosted Indonesia’s position from the 120th to 72nd between 2015
and 2018 according to the World Bank’s rating.

The number of Indonesian MSMEs that are operating independently keeps growing persistently
each year, even when there is neither access to credit finance nor sufficient governmental support.
Despite the multiplied number, in 2015, only 27.4% of Indonesian firms took out a bank loan or a
credit line, and only 12.8% of business investment was financed by bank loans.5
PAGE 8

1. The United Nations, “ Micro-, Small, and Medium Enterprises FDay 27 June”
https://www.un.org/en/events/smallbusinessday/background.shtml
2. The United Nations, “Micro-, Small, and Medium-sized Enterprises Day 27 June”, https://www.un.org/en/events/smallbusinessday/
3. International Financial Corporation, “MSME Finance Gap; Assessment of the Shortfalls and Opportunities in Financing Micro, Small
and Medium Enterprises in Emerging Markets”,
https://www.ifc.org/wps/wcm/connect/03522e90-a13d-4a02-87cd-9ee9a297b311/121264-WP-PUBLIC-MSMEReportFINAL.pdf?MO
D=AJPERES&CVID=m5SwAQA
4. Ika Nurul Qamari, Retno Widowati PA, Fauziyah, Femi Kurnia, “The Use of Communication and Information Technology Innovation
Among Micro, Small and Medium Enterprises”, The International Journal of Scientific Research and Management (IJSRM) 6, no.11
(November 2018), accessed January 3, 2020, The Research Gate
5. OECD Organization, “SME and Entrepreneurship Policy in Indonesia 2018”, OECD Policy Highlights Report,
http://www.oecd.org/cfe/SME%20Indonesia_English.pdf
 However, many external factors have hindered MSMEs from living up to their potential. For instance,
their small-scale operations are vulnerable to deterioration in a highly competitive business
environment, where the economies of scale provide a competitive advantage. Moreover, they face
difficulties in gaining support from governmental institutions, and this results in high borrowing
costs, which leads to having fewer resources to draw on during struggling times.

To make matters worse, issues related to collateral and alignment with international financial
standards further complicate the process of lending applications for MSMEs. As a result,
established financial institutions have less experience in lending to small businesses and often
negatively perceive this as a more complicated investment than what it ought to be.

1.2. Problems

1.2.1. Unavailability of Data

Leveraging data became an important part of running a modern business. Unfortunately, many
MSMEs are still behind the curve when it comes to understanding the data they posses and how
they can use it to improve their decision-making processes.

Businesses like local restaurants and hair salons are largely offline and/or lack systems to collect
data. Even when data are available, these are often siloed by the stakeholders in the industry.
Nothing is shared, so there is no tangible benefit to the industry. In other cases, data are collected
but not utilized due to a lack of data science expertise. Big Data, as they are popularly known, have
become dominated by the largest corporations, which have the resources to collect, store, and
process a vast amount of diverse data.

1.2.2 High Barriers to Funding

Since the times of financial crisis, banks have grown skeptical of lending to MSMEs. They follow a
commonly held stereotype that MSMEs do not have enough cash flow to make the loan payments.
Overall, financial inclusion is still low in emerging markets as 70% of MSMEs still lack access to
financing opportunities.

This is often encountered because, as relatively new or small businesses, most MSMEs lack proper
legal documentation, collateral, and/or long-term credit history. Those in rural areas also lack
physical access to formal financial institutions. Even if this access exists, the cost of borrowing is
beyond their ability to pay.

PAGE 9
Credit is the lifeline of MSMEs since it helps them cope with unexpected market conditions and
delays in payments by their forward supply chain, secure working capital for day-to-day operations,
and face other financial dynamics to ensure their business survival. Ironically, despite the huge
number of MSMEs, the system of national licensing remains complex for them to get authorization,
and more than half of the operating MSMEs are enduring in the micro, informal sectors. As micro
enterprises, many of them have to resort to individual funding when establishing their business.
While MSMEs are, in fact, the dominant form of business entities, they start their business with
quite small funding and operate with limited facilities.

Despite having a crucial role within the Southeast Asian economy, growing companies are facing a
lot of obstacles when it comes to gaining financial support. In fact, there is a huge difference in
financing when it comes to the total loans provided by the banks to SMEs versus non-bank third
parties. If we take a look at Indonesia’s situation, the lack of financial support is clearly reflected in
the data provided by the Bank of Indonesia.

According to the Indonesian Banking Statistics (SPI) data by the year 2018, the total loans provided
by the banking industry accounts for 5,168.2 trillion rupiahs, with only 951.7 trillion rupiahs flowing
to the SMEs. This trend has also been observed a year before that, in 2017, when 4,560.2 trillion
rupiahs was injected by the banking industry into the Indonesian economy with only 857.5 trillion
rupiahs dedicated to the SMEs6.

PAGE 10

6. Sonny Joseph, “The Opportunity for Fintech in Indonesia’s SME Financing Gap”, The Brink; The Age of Risk, April 3, 2019,
https://www.brinknews.com/19646/
 Besides, the same situation holds true in other developing markets. According to the latest IMF’s
Financial Access Survey, bank lending to SMEs in developing countries has stayed stagnant at
around 6 percent of GDP over the past five years.

1.2.3. Scaling Up the Developing Countries

Most MSMEs globally do not produce enough to take advantage of the economies of scale. They
also have low order volume, which means that they hold little leverage with suppliers and do no
receive volume discounts. This results in higher production and transaction costs when compared
to large enterprises. Also, unlike corporations who have whole departments dedicated to
procurement and finance, MSMEs have fewer resources to search for better suppliers or appropriate
financing.

International expansion is similarly problematic. Large corporations can tap into rich global
networks and leverage their low production costs to offer competitive products in any market they
enter. MSMEs, on the other hand, lack these valuable networks and often struggle to compete in
new markets.

Access to financing is frequently identified as a critical barrier to growth for MSMEs. Creating
opportunities for MSMEs in emerging markets is a key avenue towards advancing economic
development and reducing poverty. The private and public sectors can better address this matter if
they have better insights about the magnitude and nature of the financial gap.

The MSME environment has its own characteristics, such as a small number of employees, simple
procedures of traditional manufacturing, manual methods of recording transactions, and typical
operations in domestic and retail sectors. MSMEs’ business status is also unseen and unreputable
due to the unfulfilled registration requirements.

World Bank’s East Asia & Pacific “Doing Business” report from 2020 dives deep into the problems of
starting a business in East Asian and Pacific countries. The report looks over the small and
medium-sized companies and measures the regulations that are applied to them through their
lifecycle.

PAGE 11
The project, launched in 2002, looks at domestic small and medium-sized companies and measures
The World Bank evaluates the ease of doing business on a basis of a multitude of factors, including
the regulations for starting a business, dealing with construction permits, registering property,
getting credit and much more.

If we take a look at some of the Southeast Asian countries, it is clear that there are a lot of
obstacles that occur on their way of doing business. For example, Indonesia’s business license and
permit system is fairly complex and leads to Indonesia’s low position (140th) in the World Bank’s
specific Doing Business indicator of “ease of starting a business”. Vietnam stands on the 115th
position, with Thailand occupying the 47th place and Malaysia being on the 126th position.
Singapore sits on the 4th place in this list7.

In addition, the data from World Bank states that in the Philippines, it requires on average 13
procedures to start a business. This number stands at 8 in Malaysia and Vietnam. In comparison, to
do the same thing, SMEs in OECD high-income countries have to perform on average 4.9
procedures, while SMEs in the EU need to perform only 5.3 procedures.8

This is just one of the numerous indicators of the complex and unfavorable environment that
Southeast Asian SMEs have to keep up with.

PAGE 12

7. World Bank Group, “Doing Business 2020”,

https://www.doingbusiness.org/content/dam/doingBusiness/media/Profiles/Regional/DB2020/EAP.pdf
8. Ibid.
1.2.4. The Absence of Reputation

Given those problems, MSMEs often feel trapped in a cycle of high costs, minimal financial support,
and tough competition. At the root of this cycle is a lack of trust. Suppliers do not trust them, banks
do not trust them, and, ultimately, customers do not trust them. What is missing is a way for MSMEs
to build a reputation that engenders trust and opens up access to a wide variety of services that
promote growth.

To address all the problems mentioned above, we need a trusted platform that can give
opportunities for MSMEs to establish a reputation profile that helps them build trust with banks,
suppliers, and financial service providers. This way, the MSME market can experience faster
business growth, with more job opportunities being created across markets.

1.3. Challenges

A recurring problem for new or existing MSMEs is that they lack the capital needed to boost
productivity. Because many MSMEs are dependent on labor-intensive operations (and not
capital-intensive), the limitations of labor-dependent production have hampered their growth.
Without the capital needed for business expansion, the economies of scale may seem unattainable
for small-scale businesses that are struggling to stay in the competitive market. This can and will
negatively affect Indonesia’s economy that is dependent on those MSMEs.

1.4. Solutions

Tokoin finds an opportunity to create a trusted and reputable profile for MSMEs by assembling
non-financial data from MSMEs, such as the data submitted in the KYC protocol to be developed
into a Digital Business ID. All the business data from daily operations which are previously scattered
will also be transformed into a Digital Ledger to strengthen the digital profile of each business and
grant it a solid reputation.

PAGE 13

6. OECD Organization, “SME and Entrepreneurship Policy in Indonesia 2018”, OECD Policy Highlights Report,
http://www.oecd.org/cfe/SME%20Indonesia_English.pdf
 1.4.1. Establishment of Business Profiles

Tokoin platform gives MSMEs the opportunity to establish a reputation profile that helps them build
trust from banks, suppliers, and other service providers. It is a solution that levels up the playing
field so that MSMEs can get access to services that were previously unavailable. MSMEs that
struggle to secure loans will now have a solution that allows them to approach banks with
confidence. Service providers, in turn, will be given access to the reputation profiles of a diverse
network of trusted MSMEs. They will be able to check the reputation data of the MSMEs at the tap
of a button to help them make more timely and informed decisions. Additionally, with the revenue
generated from data requests going directly to the MSMEs, it will be a win-win solution for both
sides.

1.4.2. Provision of Access to Funding

One of the main barriers that most MSMEs face to survive in today’s economy is the limited access
to funding, while it is actually the power source for MSMEs to enable better productivity and answer
the call for business expansion. Apparently, there are several terms and conditions set by the banks
which MSMEs, in most cases, are not able to fulfill. One of them is credibility. In fact, the majority of
MSMEs with lack of business profiles have been neglected in the emerging markets. To illustrate,
start-ups constitute one of the business sectors that sprout recently in the society, and most of
them were established just recently. Thus, they commonly have less than 5 years of operation and
experience.

For that short duration of running time, most startups and MSMEs do not have the perfect credibility
to fulfill the requirements to apply for a loan. In order to gain the credibility required by banks,
MSMEs need to complete their credentials. The document verification mentioned above is a
business profile verification, a standard process which requires MSMEs to comply with the
regulations.

1.4.3. Scaling Up through Access to Expansion Opportunities

Through a blockchain network, information data containing business transactions can be verified in
the ecosystem. Tokoin utilizes data recorded in the blockchain network as a valid metric for building
a business reputation. In other words, this reputation will be built based on a client’s buying behavior
in trading activities, and this information will become an important part of the client’s profile. With
this mindset, Tokoin is able to transform an accurate record of data into a valuable asset that
MSMEs can use as a leverage to make up for their lack of conditions that can satisfy lending
requirements, such as credibility scoring. This will let MSMEs as users get access to the financial
services needed to achieve business growth.

PAGE 14
 OUR MISSION
is to help businesses to scale, by building the
trustworthy identity and credit scoring.

PAGE 15
 ABOUT
Overview 2.1
Value Proposition 2.2
Building a Digital Identity for MSMEs that Represents a Valid Reputation. 2.2.1
Accommodating MSMEs to Utilize Their Data to Create More Funding Opportunities. 2.2.2
Providing Growth Opportunities for MSMEs by Bringing Business Partnerships. 2.2.3
Characteristics of Tokoin 2.3
Digital Identity (Business Profiles) 2.3.1
Digital Ledger (Data) 2.3.2
Ecosystem 2.4
Participants’ Roles 2.4.1
Participants’ Functions 2.4.2
How to get a Digital Identity 2.5
How to Get Data 2.6

PAGE 16
 2.1. Overview

Tokoin is a platform that establishes business identity as an acceptable reputation in the business
ecosystem. Tokoin presents a better modern business ecosystem that offers valuable partnerships
to address inclusive growth. As a platform, Tokoin captures and processes business information
from the users as a valuable asset, which, in our ecosystem, translates into a marker for the trusted
reputation of the businesses, including but not limited to MSMEs, as our users. This enables them to
access previously inaccessible financial business services from providers, which act as our partners.
Therefore, Tokoin links the business and financial sectors to launch a scheme of financial inclusion.
The partnerships formed in Tokoin will subsequently contribute to the national economic growth.

2.2. Value Proposition

Tokoin: A trusted solution

Tokoin offers a trusted solution that can help MSMEs to solve the problems they are facing in three
ways.

2.2.1. Building a Digital Identity for MSMEs that Represents a Valid Reputation

Business profiles, activities, and buying behaviors are key elements for SMEs to generate valuable
assets on Tokoin’s platform. The platform works by compiling the data, starting from the KYC
process, routine transactions, records of behavior, to the creation of credibility for Tokoin’s users.

2.2.2. Accommodating MSMEs to Utilize Their Data to Create More Funding Opportunities

Tokoin provides a suitable technology infrastructure that records and manages data of transactions
and leverages the data by putting value into them.

2.2.3. Providing Growth Opportunities for MSMEs by Bringing Business Partnerships

Tokoin’s partnerships with various institutions allow users to access the services they need. On the
users’ side, Tokoin will allow them to build their reputation and credibility by keeping track of their
behaviors. Like that, they will be able to reach any financial institutions for the purpose of business
expansion. Meanwhile, financial institutions will benefit from an effective buyer acquisition process
by attributing to the business credit reputation of Tokoin’s users.

PAGE 17
 2.3 Characteristics of Tokoin

2.3.1. Digital Identity (Business Profiles)

To address MSMEs’ needs for reputable and valid identities, Tokoin utilizes the digital sector as a
facility and privilege. By obtaining a Digital Business ID, MSMEs are able to record and keep track
of their business processes in a digital ledger, while simultaneously distributing the credit scoring
that they are building to other partners in the ecosystem of Tokoin. This is the decentralized nature
of the blockchain technology, in which there is no central point of authority that records the data.
Applying the blockchain technology in a business process, Tokoin aims to create an ecosystem
which is powered by data distribution and concurrently benefitting the participants.

PAGE 18
 2.3.2. Digital Ledger (Data)

All of the transaction data from business operations by MSMEs as our users are going to be stored
digitally and simultaneously in a computerized record called a digital ledger. Any information,
starting from the KYC (which is used to identify the initial business profile) to more detailed
information, such as cash flow, sales figures, earnings, and routine business purchases, will be
recorded as valuable assets. These assets will also be compiled, processed, and given value to
according to the depth of the information contained. The value embedded to the data can serve as
an indicator of credit scoring that builds the reputation related to a business’ profile. With the
underlying technology of our platform, the data in the digital ledger are possible to be distributed in
our ecosystem to generate interrelationships between all participants.

2.4. Ecosystem

Tokoin ecosystem consists of MSMEs, financial intermediaries, suppliers, and service providers.
MSMEs will store their data transactions digitally into the Tokoin app. The more data they store, the
more TOKO tokens they will get. This will also serve as the credit scoring of MSMEs. The
stakeholders will acquire and stake TOKO tokens, which later will be used to access MSME data via
the Tokoin web platform.

However, the partners will only be able to access the data with the permission of MSMEs. The
authority in this case is represented by the TOKO Token. The more data is stored and the more
TOKO tokens are owned by MSMEs, the better their credit scoring is. Consequently, it opens up the
opportunity for other stakeholders within the Tokoin ecosystem to support them. Partners will
obtain the data, and MSMEs will gain support from the partners’ necessity for their business
growth.

The partners or stakeholders in the

Tokoin ecosystem that would benefit
MSMEs and other businesses include:

Financial intermediaries:
● Banks
● Multifinance

Supplier:
● Brands
● Companies
● Logistics partners

Service Provider:
● Consulting
● Property Agent
● Advertisers

PAGE 19
 2.4.1. Participants’ Roles

2.4.1.1. MSMEs

Micro, Small, and Medium Enterprises are at the core of Tokoin’s ecosystem. To start using the
Tokoin’s platform, MSMEs will need to create a business account to serve as their Digital Business
Identity. As Tokoin’s users, their activities on Tokoin’s platform mainly revolve around recording
their business operations through Tokoin’s app, which can be accessed via mobile phones. These
business records are then processed in the Digital Ledger and compiled in their Digital Business ID.

The transaction data that they record become the fuel to run the ecosystem. For every set of data
recorded, they earn TOKO Tokens as a direct incentive. The amount of the TOKO Tokens collected
determines their credit scoring. Once their Digital Business ID reaches a certain amount of credit
scores, they are able to access business facilities provided by Tokoin’s partners.

2.4.1.2. Financial Intermediaries

In Tokoin’s ecosystem, banks can accord their credit allocation for MSMEs. As loan providers,
banks are most likely to serve clients that have a good reputation. Tokoin aims at providing a
reputation establishment by capturing the MSMEs’ transaction data to build their credit scoring. In
Tokoin’s ecosystem, banks serve as Tokoin’s partners, which accommodate the ecosystem with
their business facilities for MSMEs. Financial intermediaries can sort their potential clients from
Tokoin’s users by accessing the data containing KYC materials and transaction history on Tokoin’s
platform.

2.4.1.3. Suppliers

Tokoin will act as a data custodian partner in online and offline transactions to generate a data
transaction ledger. Suppliers can also access the data containing KYC materials and transaction
history on Tokoin’s platform to get insights about the characteristics and behaviours of the MSMEs
as business buyers. Accordingly, suppliers and brand companies can market their products to the
targeted business buyers.

2.4.1.4. Service Providers

In helping MSMEs, Tokoin is also supported by partners who provide financial and business
services, such as business loans and credit, insurance services, logistics, shipping, and
warehousing. As Tokoin’s users, MSMEs may be able to choose any relevant business services
based on their preferences and development plan. On the side of service providers, they are able to
closely monitor the MSMEs by accessing their data and learning the overview of their potential
clients.

PAGE 20
 2.4.1.5. Indirect Participants

As the platform’s ecosystem expands, this will engage more participants to collaborate within the
platform usage and make use of the data accumulated in the ecosystem. Indirect participants are
any potential institutions that wish to access the data generated in the Tokoin platform. For
Instance, companies and government institutions can access the data through the platform by
staking amounts of TOKO token, but without providing services for MSMEs. Advertisers can place
their targeted advertisements and promotions for the platform user by exchanging amounts of
TOKO tokens. Indirect participants do not contribute directly to the MSMEs, yet the TOKO tokens
that they exchanged for the data will be reserved for user incentives.

2.4.1.6 Data Miners

Data miners act as data verifiers that are responsible for verifying raw data input by MSME. Tokoin
will act as the data verifier in the ecosystem.

2.4.2. Participants’ Functions

Data Supplier

MSMEs act as data providers in this ecosystem. Their role is to submit and record their
transaction data activity. Data Suppliers can provide data related to online transactions via the
Tokoin app, and information related to offline transactions through the Tokoin POS.

Data User

This refers to institutional participants that wish to obtain the transaction information stored in
the Tokoin ecosystem for their business purposes. As industry players, data users can embrace a
wide range of use and benefit from the data obtained, such as: client appraisal to scout potential
clients, market prediction and product dispersion possibilities, market characteristics and many
other tailored usages based on their criteria. Industry players, commercial banks and insurance
companies, brand companies, investment companies and property developers are the direct
participants that contribute to the ecosystem by staking the TOKO tokens to access the data from
MSMEs.

PAGE 21
 2.5 How to get a Digital Identity

Online transaction process:

● Business owners create a business
account on Tokoin’s app.
● Tokoin performs a KYC procedure
to validate the profile details of the
business.
● Once the KYC procedure is
completed, businesses earn an
official Digital Business Identity
from Tokoin.
● Businesses can use their Digital
Business ID to log in to Tokoin’s
app and start inputting their
transactions to Tokoin’s app.
● By inputting their transactions into
Tokoin’s app, businesses will
automatically maintain their Digital
Ledger and create transaction
records.

Step 1 Registration (Basic Information)

● Users fill in e-mail and phone number as basic information.
● Tick the box to agree to the terms and conditions after reading it.
● You will receive an OTP code sent to your phone number. Enter it into the app, and then create
a password.

Step 2 Registration (Basic Business Information)

● Users choose if their business falls under “personal” or “business”.

● They need to select the type of industry based on Tokoin’s classification. If they cannot find
one, they can add a new type by choosing “others”.
● Users fill in information about their business, including: business name, business phone
number, business e-mail, and business address.

Step 3 Registration (Business Owner’s Personal Information)

● Users (business owners) fill in personal information including identity card number, e-mail,
phone number, date of birth, gender, and home address.
● Take a photo of your identity card and click next. Then, take a selfie of you with your identity
card. The purpose of this is for KYC (know-your-customer) authentication process.
● Add your bank account details, including the bank account’s owner name, bank name, and
account number.
● The registration is finished. You need to wait until our team verify your data (It takes 7 - 14
days) and you will get your Digital Business ID.

PAGE 22
 TOKEN
ECONOMY
TOKO Token 3.1

PAGE 23
 3.1 TOKO Token

Tokoin’s platform issues TOKO on the blockchain as a means of interaction between participants.
TOKO is used as an incentive when a participant in the ecosystem submits transaction data and
validates the data. Also, it is a prerequisite for using certain services on Tokoin platform, including
the business insights service provided by Tokoin.

As Utility Tokens, the usage of TOKO tokens is supposed to be within the ecosystem. MSMEs and
businesses will store their data of financial transactions digitally into the Tokoin app. The more data
they store, the more incentive they get. This will also serve as the credit scoring of MSMEs. The
stakeholders will acquire and stake TOKO tokens, which later will be used to access MSME data via
the Tokoin web platform.

On the other hand, partners/stakeholders, such as financial institutions and service providers, use
TOKO Token as a prerequisite for accessing MSMEs’ data and information. With more and more
participants using Tokoin’s services, participants/stakeholders will have to stake and/or use the
tokens to use Tokoin’s platform to be able to access the data of MSMEs and businesses, and this
will positively impact the value of TOKO.

TOKO is generated by ERC-20 tokens and can be converted into certain main net protocols if the
team decides that it is necessary. This way, TOKO will be converted into new tokens based on the
new protocol.

PAGE 24
 PRODUCT &
TECHNOLOGY
Technological Aspects 4.1
Products 4.2
TokoBITS 4.2.1
My-TWallet 4.2.2
TokoBook 4.2.3
Features 4.3
TokoBITS Features 4.3.1
Toko Wallet Features 4.3.2
TokoBook Features 4.3.3

PAGE 25
 4.1 Technological Aspects
Tokoin uses a permissioned blockchain for sharing private data in a distributed network. The
requirement for data is to replicate across multiple independent nodes in a controlled way. The data
must be immutable, encrypted, and available for users to query and access.

Most blockchains are designed purely for value transfer and not usually well-suited for data storage.
They have limited transaction throughput, limited data capacity, and lack interfaces for querying the
ledger content. These limitations can be solved by adopting hashes (IPFS) and pointers
(Multi-Chain) with data stored in flat files or isolated databases.

Tokoin requires a larger quantity of data to be cryptographically secured while being replicated to
the participants in its distributed network.

Tokoin adopts the blockchain in a novel way. It embodies design principles of a replicated database
model for storing credit data in a high-throughput data store. Tokoin uses DynamoDB for its storage
layer in a NoSQL database. This allows for flexible JSON data models for hierarchy and
classification. Importantly, this database implementation allows for querying across large data sets.

PAGE 26
 Since Tokoin will operate in a decentralized environment, a consensus mechanism to coordinate
data replication between nodes with low latency is required. We use Tendermint for the underlying
consensus mechanism to ensure Byzantine Fault Tolerance (BFT) across the Tokoin’s network. By
design, Tendermint runs validators on each node for the consensus of broadcast transactions. As
this middleware focuses only on consensus, it can handle transaction rates of up to thousands of
transactions per second.

In order for Tendermint to interact with the data store, we adopt the ABCI interface to interconnect
the consensus network to the database engine. ABCI is a messaging protocol coordinating the
requests (business logic) received from Tokoin’s network and applying them to the database (e.g.
add a record, append a record).

Tokoin must guarantee that records are immutable and non-fungible. To attach all submitted data to
an owner, we leverage BigchainDB for its interfaces to the data layer and strict conditions on the
ownership of the data. It enforces rules to ensure that data are cryptographically signed prior to
being inserted into the database. This also prevents malicious interference with one node and does
not affect the rest of the network.

• Inter Planetary File System (IPFS). IPFS is a distributed file system protocol to connect all
computing devices with the same system of files. It can access, manage, and store files, as well as
track versions over time. IPFS also accounts for how those files move across the network.

• DynamoDB Amazon. DynamoDB is a fully managed NoSQL database service that provides fast
and predictable performance with seamless scalability. DynamoDB allows offloading the
administrative burden of operating and scaling a distributed database so that users do not need to
worry about hardware provisioning, setup and configuration, replication, software patching, or
cluster scaling. Also, DynamoDB offers encryption at rest, which eliminates the operational burden
and complexity involved in protecting sensitive data.

PAGE 27
 4.2 Products

4.2.1 TokoBITS
TokoBITS (Blockchain Integrated Transaction System) is a super
application that uses a point-of-sale system that makes it easy for you
to manage and run a business. Using blockchain technology, TokoBITS
translates the data stored in the app into create digital ledgers and
digital business profiles that will facilitate businesses. This data will be
used as a credit rating for businesses, especially MSMEs, to gain
access to financial intermediaries, suppliers and service services in the
blockchain-based Tokoin ecosystem.

4.2.2 My-T Wallet

Toko Wallet is the first official digital wallet from Tokoin where you can
store and transfer your TOKO token. Besides TOKO, you can also
manage multiple cryptocurrencies including Bitcoin and Ethereum.
Check your balance, transaction history, and securely send and receive
cryptocurrencies in this all-in-one crypto app!

4.2.3 TokoBook

TokoBook is a digital bookkeeping application to manage financial

records, including accounts payable and receivable for personal and
business accounts.

PAGE 28
 4.3 Features

4.3.1 TokoBITS Features

- Sales: Enables you to see and track available stocks. Add profiles and make orders based on
the customers’ names.
- Receipt: Check all transaction proofs and support refunds.
- Shift: See transaction history based on working hours.
- Items: Organize items list and group them based on categories. Add discounts to provide
interesting offers to customers.
- Split Ticket
- Split Payment
- Save Ticket
- Employee Management
- Send Receipt via E-mail
- Offline Mode
Integrated with TokoBITS:
Tokoin Dashboard (App)
- Monitor business performance for all stores
- Check inventory
- Secure & safe, only owner can access
Back Office (Web-based)
- Complete sales report
- Powerful management system, include: employee & inventory
- Professional build

4.3.2 My-TWallet Features

- Store Token
- Send Token
- Receive Token
- View Transaction History
- Add Multiple Wallets
- Event
- Program

4.3.3 TokoBook Features

Coming soon

PAGE 29
 ROADMAP

Roadmap 5.1
Team 5.2

PAGE 30
5.1 Roadmap
Q4 2018
● Selling Tokoin Tokens through Private Sales and Pre-Sales
● Development & distribution of Tokoin Wallet

Q1 2019
● Grand Launching of Tokoin
● Selling Tokoin Tokens through crowd sales
Q2 2019
● On-board Blockchain Advisor for Tokoin’s ecosystem
● Launching of POC on TestNet
Q3 2019
● On-board Warehousing Partners for Tokoin’s ecosystem
● On-board Financial Partners for Tokoin’s ecosystem
● Expansion of local operations to 10 tier-one cities in Indonesia
Q4 2019
● Launching of Data Reputation engine
● Launching of Data Visualization platform
● Launching of Partner Suite platform
● Release Tokoin Wallet (TokoW)
Q1 2020
● Launching of Tokoin POS system (TokoBITS)
● Expansion of local operations to all capital cities in Indonesia
● On-board 10,000 users in Tokoin’s POS system

Q2 2020
● Launching of Data Exchange platform for Token stacking and loyalty program (TokoW)
● Expansion of pilot hyper-local operations to Vietnam
● On-board 1000 users on Tokoin’s ecosystem in the regional hyper-local market
● Development of AI credit scoring solutions for Tokoin to scale up Operations
● Integration with Banking payment system for POS

Q3 2020
● Expansion of hyper-local operations to Philippines and Thailand
● On-board 500,000 users on Tokoin’s ecosystem in the Indonesian market
● Expansion of local operations to 10 top tier-one cities in Indonesia
● On-board 50,000 users on Tokoin’s ecosystem

Q4 2020
● Deployment of AI as part of Business Intelligence Capabilities
● Introduction of Forecast & Prediction platform into Tokoin’s ecosystem

Q1 2021
● Integration of AI solutions for Financing and Logistics partners

Q2 2021
● Expansion of hyper-local operations to other potential emerging markets
● On-board 10,000 users on Tokoin’s hyper-local ecosystem

PAGE 31
 5.2 Team
Team & Advisor

REINER RAHARDJA WELLY SALIM

https://www.linkedin.com/ https://www.linkedin.com/in
in/lordreiner/ /wellysalim/

CEO, CO-Founder CTO

● Indonesia’s Top 2 ● Experienced Tech
successful young Leader with 15+ years
entrepreneur under 40 of experience
● Accelerating ● Former VP of
Indonesia’s economy Engineering and
in various MSME Operation of
development using Booster.com, acquired
his non-profit by CustomInk
organization, The ● Former Iteration
Accelerator Manager of MYOB
● Has diversified ● Former Tech lead of
portfolio in some of Mig33.com, helping to
Indonesia’s major get them publicly listed
industries in ASX
● His holding group ● Founder of early social
consists of multi networks in SE Asia
industries portfolio, (Emeimei.com,
e.g.: Andesite Mining, friendx.com,
General Trading, ekawan.com), acquired
Fishery and Maritime, by NX, listed in MYX
Corporate ● Graduated from the
merchandising, Retail University of
Product, Agribusiness Strathclyde (MBA in
Strategic Management)

Eddy Christian Ng
https://www.linkedin.co
m/in/eddycng/

COO
● Co-Founder of
livaza.com
● 10+ years
experience in
business
development and
banking

PAGE 32
 Ignasius Michael Michael Handoko
linkedin.com/in/ignasiusmi https://www.linkedin.com
chael /in/michaelhandoko
General Manager VP of Commercial
● 3 years of experience ● Former Vice President
in stock and futures of Sales and
market Marketing at Ubiklan
● Former Finance ● 8+ years of
Specialist at experience in
Ralali.com marketing and
advertising

Adi Darda Gaudiamo Silvia Permatasari

https://www.linkedin.com/ linkedin.com/in/silvia-pe
in/adi-darda-gaudiamo-103 rmatasari
82545/
Operations
Head of Creative ● 5 years of
● 23 years of experience experience in
in content and creative finance &
field accounting
● Former Head of ● 1 year of
Creative at Ralali.com experience in
blockchain &
cryptocurrency

Stephanus Andreas Femino Ganini

linkedin.com/in/stephanus linkedin.com/in/feminoganini
ng
Business Development
Finance & Business ● 5 years experience in
Development entrepreneurship
● Bachelor of ● 6 years experience in
Accounting, Kwik Kian design & production
Gie
● 2 years of experience
in investment

34
PAGE 33
 DAHLAN ISKAN TIAGO ALVES
linkedin.com/in/dahlaniskan linkedin.com/in/tiagoalves

Advisor Advisor
● One of Indonesia’s top 100 ● VP Asia Pacific at
Forbes-listed entrepreneurs Aptoide
● Indonesia’s media mogul, ● 12 years at Portugal
Founder and Former CEO of Telecom
Jawa Pos Group
● Former Minister of the
country’s State-owned
enterprises (BUMN)

Richard Yoon HongZhuang Lim

https://www.linkedin.com/i https://www.linkedin.com/i
n/richardyun n/hongzhuanglim

Advisor Project Consultant

● Senior Financial Analyst, ● CEO of ShuttleOne
Cisco Systems, Inc. ● Former Managing
● CFO of Exio Director of Pac-Fung
Communications., Inc. Agora Pte Ltd.,

Suyong Park
linkedin.com/in/suyongpark/

Project Consultant
● CEO of Block Crafters
Co., Ltd.

PAGE 34
BUSINESS
PARTNERS
Block Crafters Capital
D.Street
Refereum
Ralali.com
PasarPolis
Sahabat UMKM
Tomochain
Ministry of Trade
Ministry of Industry
KADIN Indonesia
Bifrost
Shyft
Infinito
Shuttle One
Sesame Open
XSquare

PAGE 35
 Block Crafters Capital is a professional group of experts in the field of blockchain, start-ups, and
finance. This group is our bridge to reach the largest possibilities and opportunities in the
cryptocurrency world. Based on their experience, Tokoin can project a faster adoption in the larger
market. The strategies that we build with Block Crafters Capital are related to technology,
investment, blockchain market and adoption, infrastructure utilisation, and business partnerships.
Partnering with Block Crafters Capital also accelerates our practice in the aspect of ideation of our
market adaptation.

We are also partnering with dstreet.io, a Korean blockchain media platform, to support our
international coverage. As a joint-venture of three industry leaders in South Korea, MK Media
Goup, DAYLI Financial Group, and Block Crafters, D.Street provides Tokoin with media content
and strategies with wide coverage to newsreaders, blockchain influencers, and marketing
channels to increase awareness and feedback from public and blockchain enthusiasts.

Known as a blockchain-based platform that aims to reward influencers (such as streamers,

YouTubers) who help advertise video games, Refereum is now assisting Tokoin with its growth
engine to grow our community by giving incentives for participants’ engagement. During our
campaigns, Refereum’s widget is available on the homepage of tokoin.io.

PAGE 36
 Ralali.com is the current largest business platform in Indonesia, helping MSMEs to source, scale up,
and sustain their operations digitally. In its 5 years of operation, Ralali.com has successfully
managed to connect more than 250.000 small and medium businesses with 15.000 suppliers
across 34 provinces in Indonesia. By being plugged into Ralali.com’s business experience and
thriving ecosystem, TOKOIN can accelerate the adoption and application while simultaneously
enabling the most important segment of a developing country to better compete and join a global
marketplace.

PT PasarPolis Indonesia is the first insurance marketplace in Indonesia. As a partner of Tokoin,

PasarPolis aspires to provide MSMEs with business insurance that is affordable yet helpful to cover
their business operations. With PasarPolis on Tokoin’s platform, MSMEs will be assisted with
relevant property insurance protection for their business property asset.

To optimize the strength of the ecosystem, Tokoin equips MSMEs with the power of a fellowship
approach to one another. Sahabat UMKM is a community of Indonesian MSMEs which facilitates
MSMEs in gaining beneficial access to networks, leading to fruitful partnerships and their boosted
confidence when entering the bigger business ecosystem. With Sahabat UMKM on Tokoin’s
platform, Indonesian MSMEs will be able to explore their capabilities and opportunities to cultivate
their business potentials by means of the blockchain technology.

Tokoin is partnering with Tomochain to support the infrastructure on the Tokoin’s decentralized
application. For Tokoin dApp, Tomochain provides scalable blockchain infrastructure, which is
trustworthy in terms of transparency and auditability, and a fast and easy token integration.
Tomochain is compatible with Ethereum Virtual Machine-based protocol, enabling public chains and
private chains, as well as cross-chain token transfers.

PAGE 37
 Tokoin signed a partnership with the Ministry of Trade of the Republic of Indonesia in June, 2019.
Tokoin is the first blockchain project to partner with the Ministry, which provides Tokoin a unique
foothold, increasing their reach in Indonesia’s MSME sector and enabling platform users to sell their
products globally. The support of the Indonesian government is undoubtedly a validation of the work
that Tokoin has done so far, and should greatly ease the process of transition of the MSMEs onto
Tokoin’s digital platform.

Tokoin and the Ministry of Industry have been working together since January, 2019, supporting
each other in their individual fields of expertise. The partnership has seen Tokoin assist the existing
efforts by the Ministry, helping MSMEs grow, providing them access to financial services that were
unavailable earlier, and educating them on the available solutions and services offered by Tokoin.
On the other hand, the government program has provided Tokoin access to MSMEs across
Indonesia and facilitated merchant acquisition. The Director General of the Ministry is leading the
charge on Industry 4.0, and is keen on, “Bringing the 4th Industrial Revolution to MSMEs in Indonesia”
with Tokoin’s assistance.

Tokoin signed a MOU with KADIN (Indonesian Chamber of Commerce and Industry) at the Global
Blockchain Investment Summit 2019. Tokoin has been working together with KADIN since
November, 2018, educating them on blockchain technology, and how institutions can use this
technology to their benefit. The MOU will see KADIN providing support to Tokoin in accelerating the
growth of MSMEs locally, while Tokoin will support KADIN in improving local talent in the field of
blockchain, bringing maximum acceleration to Indonesian enterprises through the use of
blockchain. The partnership will also make it easier to deploy and on-board users to the TokoBITS
app.

PAGE 38
 Bifrost is the first and only middleware platform that enables DApps to enjoy the advantages of
multiple blockchain platforms simultaneously. Today, different blockchains have different use
cases, and no single blockchain exists which can satisfy the varied requirements of DApps. Bifrost’s
middleware platform operates between the application layer and the protocol layer, and empowers
DApps to combine the performance, scalability, and customizability of private blockchains with the
safety and decentralization that public blockchains provide. Bifrost’s solution will help Tokoin apps
maintain maximum efficiency even under excessive load, without compromising on security or
decentralization.

Shyft Network is building the world’s first secure, interoperable, blockchain-based trust network that
enables sensitive data (such as KYC/AML attested data) to be transferred securely. Shyft
incentivizes individuals and enterprises to work together and add context to data, in order to build
authentic digital reputation, identity, and creditability frameworks. Shyft has already partnered with
governmental bodies to build a user interface through which citizens can complete KYC process
with legacy institutions, track their KYC data, and consent to borderless data-sharing with new
custodians. Integrating with Shyft’s technology will guarantee that every transaction that takes place
on Tokoin apps remains secure and transparent

Infinito provides an ecosystem of blockchain products, services, and solutions for investors and
businesses to manage and grow crypto wealth, developers and users to build and enjoy blockchain
applications, and merchants and buyers to make and receive payments securely. Infinito’s
ecosystem includes Infinito Wallet, Infinito App Square, Infinito Blockchain Platform, and
InfinitoPAY. The wallet supports thousands of tokens and coins over 15 blockchains, has 400,000+
downloads, and is used by 70,000+ active users. This partnership will allow Infinito’s wallet to be
integrated within Tokoin’s network of apps, leading to significant advancement and ease of use for
Tokoin users when they deal with different digital assets within Tokoin’s apps.
PAGE 39
 ShuttleOne is a Fintech blockchain solution that is working to reduce the friction between digital
assets and local currencies, by delivering decentralized finance solutions to payment gateways,
loans, and personal finance. ShuttleOne’s vision is similar to that of Tokoin, as both the projects are
working towards empowering developing communities and accelerating emerging markets.
Through their ShuttleOne wallet, they provide core banking activities, digitization and tokenization of
savings, and lending through digital asset based collateral. With this partnership, TOKO token has
been added to the ShuttleOne wallet, providing merchants access to their instant exchange
technology, and a convenient and reliable way to liquidate TOKO instantly into cash.

Sesame Open is developing a protocol that will empower communities to embrace the era of
decentralized commerce and create the $100T+ economy of Commerce 3.0 and. By developing the
middle-layer protocol that connects the blockchain layer with commerce-related DApps, Sesame
Open is creating a community oriented, owned and operated (o3) decentralized network of sellers,
buyers, and communities who are incentivized to transact with each other. Commerce 3.0 will
witness a drastic reduction in fraud, increased anonymity for sellers and buyers, and the birth of a
level playing field which cannot be monopolized by big businesses. The MSME sector in Indonesia
and other South-East Asian markets will enormously benefit from this partnership, which will open
the doorway to the latest technology advancement in the world and usher in a tangible future for
commerce which was hitherto unknown.

XSQ is a Blockchain Infrastructure Development company that works with three different pillars –
cryptocurrency mining and infrastructure, crypto venture capital funding, and blockchain advocacy.
XSQ provides hardware and infrastructure to facilitate cryptocurrency mining, and builds and
operates its own data centers in Singapore. This partnership makes XSQ a lending partner for
Tokoin, which will provide the MSME sector with the much needed financial assistance essential for
their survival and growth. It is also expected to widen Tokoin’s reach to XSQ’s partner companies,
attracting more attention to Tokoin’s cause, which will finally translate to more funding for the micro
and small scale industries in Indonesia.

PAGE 40