Tael is a digital token aimed at confirming the authenticity of goods and products.
What Is Tael?
Tael (WABI) is a digital token aimed at confirming the authenticity of goods and products. The Tael project aims to combat the problem of counterfeit goods like infant formula, alcohol, and medicine that consumers face in many countries. Tael can help secure such supply chains. Products can be tagged with appropriate tags and tracked using the blockchain – all the way from the producer to the consumer.
The goal of the Tael ecosystem is to provide users with the means to authenticate the products they buy. WABI, the native cryptocurrency, has use-cases aimed at solving real-world problems. It is also used as a payment method across the Tael ecosystem and its partners. WABI is utilized as a reward for every scan a user performs. The total supply of Tael tokens is relatively low and the market cap has plenty of room for growth. The loyalty program the coin uses provides the system with long-time users, rather than short-term traders.
Pros and Cons of Tael
Advantages of WABI
Supply chain applications have already become one of the main uses of blockchain, and the Tael project is set on becoming a leader in this area. It is envisaged to place security labels on consumer products in China and internationally in the future. The project has already received good feedback, notably about its safety and quality insurance. It is also regarded by some users as "underappreciated" so there’s hope for the success of this coin further down the road.
Disadvantages of WABI
There’s currently a low return on investment for WABI. The price and value of this token are highly affected by the supply and demand for it. Experts also doubt and question the cost-effectiveness of this token and things like tamper-proof NFC smart-labels needed for the project to run properly. This raises another concern of bringing this project offline into the real world and off blockchain.
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