The Tael Ecosystem, the safe-product ecosystem utilizing blockchain technology to provide verifiable authentic vital goods, has acquired a medical license through Techrock (Tael Ecosystem company), allowing us to expand our product portfolio and safeguard a new industry particularly prone to counterfeits.
The first products in this category to be on-boarded onto the Tael Ecosystem are preventive healthcare products, such as contraceptives and adult lifestyle products. These products join the over 360 other Tael technology-protected SKUs already available through the Tael Ecosystem to the tens of thousands of users in more than 500 cities in China, as seen on our company website.
Pharmaceuticals, healthcare products, and adult toys are heavily counterfeited product categories in dire need of a protective solution. Additionally, fake products in these categories leave consumers especially susceptible to health risks. The Tael Ecosystem combats this by utilizing state-of-the-art RFID & blockchain technology to protect consumers from product tampering.
Tael’s proprietary anti-counterfeit labels are placed on the product packaging at point-of-origin. Consumers can subsequently ‘touch’ the label with their phone to authenticate the product and are incentivized by receiving ‘Tael points’ as part of the Tael Ecosystem loyalty system, to be redeemed for further discounts on the platform.
“The acquisition of a Class II medical devices license is the first step in a significant expansion which will see us tapping into not just new product categories but a new industry altogether. Protecting consumers through our technology has always been our primary goal and we’re excited to share the names of brands joining our platform as we finalize agreements.” — CEO Alexander Busarov
This achievement follows our recently released development roadmap for the year 2020: Tael Ecosystem Roadmap 2020 & Highlights of 2019.