Tael is a digital token used to purchase secure consumer goods. With the ability to be seamlessly integrated by third parties, Tael can be used more widely through swapping with loyalty tokens on the blockchain. Tael completed the first transaction in Techrock's safe consumer goods ecosystem. Techrock applies bank-grade, tamper-resistant NFC smart tags to authenticate consumer goods and matches them with digital representations of those goods on the blockchain.

Consumers can use their mobile phones to "sense" smart labels to verify the authenticity of products, track product supply chains, and obtain consumption rewards. Techrock's technology mainly protects consumer products that require anti-counterfeiting, such as infant formula, cosmetics, wine and health care products. Our loyalty point ecosystem in Techrock uses Tael tokens to reward consumers and encourage them to consume and obtain information through Techrock channels, while also generating unique data for each company in the value chain.

Tael's vision is to mainstream blockchain-based payment technology, spreading it across Asia and beyond.

Application scenario

The WaBi project is built on the team's existing product Walimai (草力购). It was originally a company that mainly engaged in anti-counterfeiting labels for maternal and child products. It was tokenized in 2017 after two years of operation in Jiangsu, Zhejiang and other places:

(1) WaBi is essentially a shopping point, which encourages users to purchase goods through the Walimai platform in order to get point rewards;

(2) RFID radio frequency identification is a non-contact automatic identification technology, which automatically identifies the target object and obtains relevant data through radio frequency signals. Through RFID electronic tags, it is possible to trace and record the production, circulation and use of commodities;

(3) RFID anti-counterfeiting labels are already a mature technology, which has nothing to do with the blockchain. The Walibuy team only tokenized the points with the help of the ERC20 protocol;

(4) The advantage of RFID technology is that it is convenient and quick to read; it can be used in various harsh environments; it has a long service life; and it has strong security;

(5) The disadvantage of RFID technology is the high cost and the need for a complete set of equipment; the possibility of artificial tampering of information; the existence of compatibility issues;

(6) The innovation of the WaBi project lies in whether the blockchain can be used to solve the tampering problem of RFID, that is, the distributed storage problem.

Related information:
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