Tael Ecosystem is a place where consumers reap the benefits of blockchain authenticated products. It provides an adoption ready loyalty point system that over 12.000 mainstream consumers use.
Tael fights against the counterfeit critical goods market. It uses blockchain to solve this issue without disrupting people’s behavior and concurrently to drive its adoption. For a non-technical user, the blockchain ecosystem is way too complicated. This is where the technology in other projects is facing adoption resistance. Tael seems to avoid this problem and it has thousands of users with 90% of them being a woman. This is very different to the typical crypto projects where males dominate. Tael ecosystem’s real adoption is set to overtake the number of its actual crypto holders. The community members can participate in an adoption competition on Twitter.1000 Tael are up for grabs!
Tael Ecosystem’s objective is to provide product authenticity control on the blockchain. The Tael token is just a part of the bigger picture painted by Tael Ecosystem, a Chinese safe product marketplace. However, Tael Ecosystem stands out from the rest by adopting a user-focused approach in a niche segment. It takes a lead in hiding the complexities of the blockchain behind an intuitive user interface.
Previously known as Walimai, Tael Ecosystem recently underwent a brand restructure to favor its target demographics penetration. Back in the days, Asians used the word “Tael” to refer to “silver money.” Historically the value of Chinese Taels was determined by their weight. As a loyalty point carries value hence the name. Tael, formerly known as WaBi is an incentive token inside the Tael Ecosystem.
Tael Ecosystem combines the power of hyper ledger blockchain and NFC/RFID to execute its proprietary authentication mechanism. Tael plays a major role in the adoption of the ecosystem by incentivizing and rewarding the users who choose to authenticate the product. With its very own marketplace that supports purchases using Tael, the company created an ecosystem that finds an inherent use for the tokens distributed as incentives.
The Loyalty Point!
Tael is often confused as a directly comparative Supply Chain Management system. The ecosystem is actually a Loyalty Points model that not only provides blockchain authenticated products to consumers but also rewards end users for being part of the ecosystem and authenticating the goods. Let’s break it down.
Tael is essentially a loyalty point token inside Tael’s ecosystem. With the Tael token being on the Ethereum blockchain, this offers easy integration into exchanges and multiple storage options. Chinese regulations and controls are strict, meaning loyalty points or tokens that are used in marketplaces may not be directly traded on exchanges, so the Tael solution to this is to create a loyalty point which is 1:1 connected with the Tael token. These loyalty points are called Shijifen Points in Chinese.
The Shijifen loyalty points utilize Hyperledger blockchain to increase the number of TPS along with the transaction speed on the Tael Ecosystem blockchain, privacy, adaptability, and compliance, whilst reducing costs.
Since Tael tokens and Shijifen loyalty points are 1:1 interconnected, they mimic each other’s behavior meaning as someone in China receives Shijifen from purchase, a scan or any other action in the Tael ecosystem, Tael tokens are immediately locked/spent allowing for two blockchains to be uniquely entwined.
There are 4 actors in the Tael ecosystem and each plays an important role.
- Consumers – Rewarded with loyalty tokens for acts within the ecosystem including ‘touching’ products, verifying product authenticity, utilizing referrals and more. Consumers are the ones in demand for authentic safe goods in the market.
- Brands & Merchants – Purchase Taels to use as a marketing tool whereby through the Tael shop and ecosystem can drive purchasing decisions, gain data insights and run targeted marketing campaigns.
- Exchanges – Provide high levels of liquidity for actors in the ecosystem to exchange and trade their Taels.
- Tael Ecosystem – the actual company which sells the secured quality consumer products to the consumers through the platform
In the ecosystem, the increased number of users translates into more Taels locked/staked in users’ wallets. In line with the consumer side demand, the increased number of Brands & Merchants selling through the Tael ecosystem also increases the number of Taels used for marketing budgets, again driving demand higher. With a positive growth spiral in the ecosystem of growing users and therefore growing brands and merchants, self-sustainable adoption is engraved in the core of the project. This exact cycle is visible in Tael’s partnership with E-commerce giant ‘Rakuten’ that we’ll explain later on.
Tael’s team is a combination of solid leadership and precise expertise adding to the credibility of the project. When we focus on Tael’s leadership we find seasoned blockchain players. They have a large network of connections to aid in the future adoption of the project.
Starting from the top:
CEO, Alexander Busarov
A London School of Economics graduate, Alexander was a former consultant at McKinsey & Co. There, he garnered all his project strategy experience while working at the reputed firm across critical verticals like nuclear and renewable energy on a nationwide scale. Alex has headed the sales department of a leading global infant formula company for its operations in Russia.
Co-founder, Yaroslav Belinskiy
With vivid experience in penetrating new markets, Yaroslav, has worked at Bain & Company as well as an independent advisor to a leading FMCG manufacturer. It is his experience in the consumer goods market that gives Tael’s team an added advantage. His academic credentials add credibility to the team as he is an Oxford University and London School of Economics graduate.
CTO, Edward Tsang
Edward Tsang holds the position as the CTO of the project for his significant experience across development for both iOS and Android platforms. His business vertical expertise spreads across both B2C and B2B applications. Blockchain and IoT happen to be the core interests of Edward who holds a computer science degree from Oxford University.
Product manager, Butian Li
Butian brings her experience of management consultancy and business technology analysis expert from Deloitte, San Francisco to the project. She has also held the position of Global Operations Manager for Shuishing China and is an industrial engineering and operations research graduate from UC Berkeley College of Engineering.
The Problem and the Solution:
At a cursory glance, Tael may not look like a ground-breaking solution, but the large segment it is penetrating is devoid of integrity and that is leading to many issues including infant deaths, poisoning and more.
In 2008 the Chinese Fake Milk Story jolted the entire nation. The Chinese health ministry reported that almost 300,000 babies ended up in a hospital due to milk powder contamination. This was five times the average cases reported. The incident creates a trust dark hole in the market and even after a decade the Chinese feel infant food safety is a huge problem.
The product counterfeiting persists across more critical goods markets like cosmetics, vitamin supplements, and alcohol. Tael Ecosystem offers over 250 products throughout these categories, which equate to a market size of over $100 billion.
Tael’s platform is solving this problem. The solution is simple, tracking the supply chain over blockchain to authenticate consumer products, in a user-friendly and adoption ready ecosystem.
Tael is not at the “working” or ‘signing partnerships which may lead to something’ stage as they already have over thousands of people throughout China, using the product regularly. With the adoption growth spiral mentioned above being beneficial to token holders this provides an advantage wherewith many other projects usage doesn’t really benefit token holders. Adoption of Tael is set to overtake the number of crypto holders and community members can participate in a competition to receive 1000 Tael!
Partnerships are a key driver in the growth and adoption of Tael. The biggest partnership to date is with the top e-commerce player in Japan, Rakuten. With Rakuten not selling directly through their own platform in China, only 3 platforms have been selected by it to sell in China and the Tael ecosystem is one of them, along with 2 giants in the industry ‘JD.com and Kaola. There are more partnerships on the roadmap. Ultimately, this leads to greater adoption and utility for supply chain stakeholders all the way from the manufacturer to the end consumer.
With the Tael team confident that they have cracked the adoption model for blockchain, the users are utilizing blockchain value propositions without even realizing it. No need to learn about public and private keys or transaction fees. After all, they use the service in the same way that they’re used to with other platforms. For instance, payments in few clicks, 1-touch authentication with Tael APP, loyalty points usage and e-commerce stores.
Being an already adopted and growing project, there are numerous happy users throughout China. You can see a number of user feedback videos here.
After successfully outpacing the planned growth and milestones for 2019/19 Tael has a number of exciting goals for the remainder of 2019.
- Add product recommendation features to Tael Ecosystem Store
- Add a native shop inside the consumer scanning application.
- AI-based product recommendation targeting
- Automatic labeling solution
Increasing Mainstream consumer adoption –
- KOL marketing in China Market
- Cryptocurrency Influencer and social media campaigns.
- Add Wellness & Lifestyle products to the Tael Ecosystem store.
- Expand Portfolio to 500 different Products
- Add Tael redemption functionality at 3rd party retailers
Business Development –
- E-Commerce retailers using Tael to market in the Tael Ecosystem
- Tael interchangeable with other retail loyalty points
- Integrate Tael into international shopping malls/payment provider
- Revamp Tael website
Sales Network –
- Expand to 500 cities
- Product placement marketing using Tael
WHEN WILL TAEL ADOPTION OVERTAKE CRYPTO HOLDERS?
The first 5 people to guess the date of when real-world Tael users outgrow the Crypto holders will win 1000 TAEL! Click here.
- Follow @Taelpay
- Comment Date (One guess per person)
Learn More and Sign up:
The Business Model: https://blog.taelpay.com/our-ecosystem-detailed-business-model/
The 2 Blockchains:https://blog.taelpay.com/our-ecosystem-detailed-2-blockchains-explained/
Ecosystem Actors:: https://blog.taelpay.com/our-ecosystem-detailed-actors-in-the-ecosystem/
The Demand and Supply: https://blog.taelpay.com/our-ecosystem-detailed-demand-supply/
Trade WABI on Binance: https://www.binance.com/en/trade/WABI_BTC
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