WaBi Price

Project Overview

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

Consumers can use mobile phones to "sensing" smart labels to verify the authenticity of products, track the product supply chain, and get rewards for consumption. Orangestone's technology mainly protects consumer products that require special anti-counterfeiting, such as infant formula, cosmetics, alcohol and health care products. Our loyalty point ecosystem at Orangestone uses Tael Tokens to reward consumers and encourage them to spend and access information through Orangestone channels, while also generating unique data for each company in the value chain.

Tael's vision is to bring blockchain-based payments technology into the mainstream, rolling it out into Asia and beyond.

Application scenarios

The WaBi project is built on the team's existing product Walimai. It was originally a company specializing in anti-counterfeiting labels for maternal and infant products. After two years of operation, it was tokenized in 2017:

(1) WaBi is essentially shopping points, which encourages users to purchase goods through the Walimai platform to get reward points;

(2) RFID radio frequency identification is a non-contact automatic identification technology, which automatically identifies target objects and obtains relevant data through radio frequency signals. RFID electronic tags are used to trace and record all aspects of commodity production, circulation, and use;

(3) RFID anti-counterfeiting tags are already a mature technology, independent of blockchain, The buying team only tokenized the points with the help of the ERC20 protocol;

(4) The advantages of RFID technology are easy and fast reading; can be used in various harsh environments; long service life; security Strong;

(5) The disadvantage of RFID technology is that the cost is high, and it needs to be equipped with complete equipment; the information may be tampered with artificially; there is a compatibility problem;

(6 ) The innovation of the WaBi project is whether it can use the blockchain to solve the tampering problem of RFID, that is, the problem of distributed storage.