Micro, small, and medium enterprises (MSMEs) face a long list of challenges, including limited financial resources, non-interoperable platforms, and complex regulatory requirements. We highlight the potential for digital asset and public registries to be a transformative force in unlocking growth in the global economy. Digitally verified data facilitates more inclusive and efficient financial systems by enhancing trust among global funders and reducing barriers to MSME growth. Globally recognised, open-source organisational identity frameworks can enhance MSME data governance and verification, facilitating seamless integration into global trade and financial systems.

By participating in a data network such as the Finternet, MSMEs can share relevant data in a consent-based, cybersecure mode. Consent facilitated through intuitive interfaces and adaptive experience journeys with ‘Just-in-Time’ digital and financial literacy learning networks, like Digital4SMEs, enhance effective entrepreneurial capacity building.

With cross-verification of MSME data in vertical supply chains, financing decisions, particularly for short-term supply chain financing, can be automated and substantially derisked, reducing the $5 trillion global financing gap. The use of alternative data stands to lower default risks for lenders to 1%, reducing the cost of finance. Countries introducing Central Bank Digital Currencies, which enable low-cost and efficient transactions, have the potential to accelerate national MSME financing and job growth.