Quarterly review: Readying for mass adoption

Q2 in review and a closer look at Q3.

Tael
Jul 1 · 5 min read

Hitting our Q2 milestones and then some!

We’re capping off 3 months of major technological and business developments for both Tael & Techrock with the fine-tuning of our blockchain to facilitate variable data access for B2B partners! April kicked off with a stunning showing of participation from our community, allowing us to answer questions from the Binance community through a Telegram AMA. We also saw our supporters spread the word about Tael through in-depth articles and efforts in our Tael Play & Win competition.

Since then, we’ve been ticking off milestones (and even adding additional ones) benefiting our Techrock consumer base, the brands & companies operating on our platform, and all holders of the Tael token.

Q2 in a nutshell:

We’ve been strengthening and growing our consumer base, reaching over 300 cities and 20.000 Tael transactions among mainstream users, partially through the addition of a new Peer-to-Peer social functionality built into our Techrock application. It’s never been easier for users to recommend the safe product platform to friends and family. The recognition of the Techrock channel by China’s consumer body solidifies our place in the future of China’s commerce landscape, providing a guarantee unmatched by the competition.

Our H5 Techrock shop has migrated to a WeChat native MiniApp, allowing for faster loading times and additional interactivity within WeChat. To further reduce friction, our tech team is working hard to add a native shop inside the consumer scanning application. This development has been held back this quarter for the simple fact we want to get it right in one go, with a swift, bug-free, robust system able to process a substantial amount of transactions simultaneously. We’ve been testing our apps at 10k orders per hour throughput, readying the system for the coming scaling. Because of this, we plan to roll out this feature in the next quarter.

The recent launch of our custom Enterprise blockchain dashboard provides companies and brands with access to unique data unavailable on any other selling platform, including extensive behavioral insights. The completion of this milestone signals that our partnerships and agreements with the likes of Nestlé, Nature’s care, and Japan’s largest ecommerce company Rakuten, are only the beginning when it comes to future expansion.

The implementation of the Binance token BNB on the Techrock platform serves as both our first example of implementation of the Tael payment system with other blockchain tokens and also shows the function of the payment system outside the Techrock marketplace itself. Our integration with CoinSpot has made it easier for Australian organizations and companies to seamlessly integrate Tael as a marketing tool. Additionally, we’ve been providing unprecedented transparency of the project’s growth through the expansion of our adoption page, creating a wonderful introduction to the project as a whole as a result and highlighting the strength of word-of-mouth marketing in China.

The non-crypto consumer base grew by 5500 consumers (254%) mostly by word-of-mouth.

Techrock in Japan.

We’ve not been sitting still in regards to our business development in Japan, either. With the help of the Mitsubishi UFJ Financial Group (one of the 10 largest banks) and their contacts within the Digital Innovation business accelerator, we’ve been introduced to major Japanese companies interested in collaboration. We’re currently in discussion with multiple product category companies, advertising agencies, and a local government. We hope to share more details soon as these talks develop further.

All Q2 Milestones Achieved:

Technology
✔️ Fine tune blockchain to facilitate variable data access for B2B partners
✔️ Add social functionality to Techrock application
✔️ Create custom Enterprise blockchain explorer (non-public)

Sales Network and business development
✔️ Recognition of our safe channel by China’s consumer protection body
✔️ Expand to 250 cities
✔️ Implement Tael payment system outside Techrock marketplace
✔️ Make several partnerships public, including our largest to date

Community
✔️ Binance AMA in several groups (including English and Chinese)
✔️ Masternode expansion (ongoing)
✔️ Community engagement program & product giveaway
✔️ Additional improvements to ‘Adoption Page’
✔️ Implement Tael payment system with other blockchain tokens

Q3: Adoption, adoption, adoption

Adoption means a severe increase in the real-world usage of Tael, and the amount of Tael held in the wallets of thousands of mainstream consumers. The benefits of this are substantial for everyone involved:

In light of the major leaps we’ve taken (both the Tael team and its community) over the course of 2019’s second quarter, we couldn’t be more excited to dive into Q3. We’re jumpstarting the roll-out of our adoption plan, bringing even more verifiable authentic products to eager Chinese consumers and increasing the overall use of the Tael token. We’re also lining up Chinese KOLs, as of now totaling over 1.5 million followers. This is only the beginning of our KOL efforts going forward. Although the Q3 milestones we had set at the beginning of this year were ambitious from the outset, we stand by them and are even aiming for a few additional milestones.

With the roll-out of our adoption plan, we can capitalize on our current presence in hundreds of 2nd to 4th tier cities.

Q3 Milestones: Set & Expanded

Technology
- Add product recommendation features to Techrock store
- Add a native shop inside the consumer scanning application

Increasing Mainstream Customer Adoption
- Start of KOL marketing in China market
- Add Wellness & Lifestyle products to Techrock store
- Expand portfolio to 500 different products (SKUs)
- Add Tael redemption functionality at 3rd party retailers

Business Adoption
- Ecommerce retailers using Tael to market on Techrock platform
- Tael interchangeable with other retail loyalty points

Community
- Revamp website for added clarity

Tael’s future isn’t restricted to IT usage and cryptocurrency holders. It’s not a ‘what if’ or guess. Tael’s ecosystem is what sets us apart from other projects in this industry. We’re more than proud of what our growing consumer base means for the project going forward.

We’re glad to have you with us.

Please note that the roadmap may be subject to change and is based on the information available to us at the time of writing. All changes to the roadmap will be noted and we’ll announce changes as they happen.

Thank you all for your continued support!

Tael

Written by

Tael

The digital token used in the Tael ecosystem for verifiably authentic products. Formerly WaBi. https://taelpay.com/

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade