We’re rounding out the year, and the decade, with the fastest mainstream consumer adoption growth we’ve seen so far. But that’s not all that happened. This recap will detail the highlights of the months October, November, and December, our most accomplished quarter yet.
Q4 in numbers: Real World Usage
Statistics below are taken directly from our Tael Adoption page: https://adoption.taelpay.com/
Over the course of Q4, the Tael Ecosystem has seen explosive growth in its consumer numbers. The number increased from 14,236 to 37,233 consumers; a whopping 161.54% of growth over just 3 months (equivalent to 1689% annualized growth).
On average, each of these users within the Tael Ecosystem holds 45 Tael tokens. Cumulatively, they’re responsible for locking 1,675,485 Tael (1.67% of the total token supply), with 1.03% of the total supply having been locked in Q4 alone.
This growth is primarily driven by our KOL marketing in China, along with a concerted effort to streamline our incentive and reward schemes.
We've been reloading our guns over the past couple of weeks and getting ready to expanding these campaigns further in 2020. In addition to KOLs, a variety of new types of partnerships will also play a major role. Details can be found here:
The Q4 numbers are a testament to the efficacy of our efforts to increase mainstream adoption. We saw one of our biggest adoption milestones achieved when we crossed 50,000 token holders overall. We’re now at a current total of over 52,191 holders of Tael, combining both Tael ERC-20 holders and mainstream consumers holding Tael points (Shijifen). More than 72% of those holders are mainstream consumers and if that isn’t enough, we’re really bucking the crypto industry norm as 70% of them are women.
Press & Media Coverage
CNN Business covered the project in October for their ‘Innovate’ series.
Additionally, we were covered by multiple online crypto personalities, including Stacking and Altcoin Buzz. We also saw local coverage through our participation in Christmas markets in Shanghai, giving consumers a festive introduction to our concept.
1. Completion of the Dual Frequency Chip Upgrade
The Tael anti-counterfeit labels have been successfully equipped with dual-frequency labels, allowing for bulk encoding/reading in the supply chain, while retaining their ability to be scanned by our consumers’ mobile phones. This greatly increases our logistics infrastructure throughput, greatly reducing both the time and effort needed to scan and encode large quantities of product.
2. Revamped Consumer Scanning App Public Release
Out with the old, in with the new. The revamped consumer scanning application has been finalized, offering a host of new features for users. Having passed internal testing, it is now awaiting app stores approvals ahead of launch.
3. AI Product Recommendation
Effective product recommendation within a store-front can be a game changer for any marketplace. This is why we’ve gone above and beyond, preparing to roll out our AI-based product recommendation engine. It works by learning from purchasing patterns to recommend relevant products to other consumers on the platform.
The engine is currently up-and-running in the AI training phase and will continue to be trained in anticipation of a store-front launch. This training involves giving feedback to the engine - confirming when it makes good decisions and telling it when it makes a poor choice. In this way, the engine quickly becomes autonomous and will provide an even better user experience for our consumer users.
4. Labels Equipped With Anti-Metal Shielding
In addition to the dual frequency chip upgrade, we set out to add standardized metal-shielding to our labels. Instead, we found a metal-shielding alternative that’s more cost-efficient, practical, and customizable to individual products that would benefit from metal shielding. This allows us to keep the label manufacturing costs down while using a more flexible shielding solution. A win-win.
5. Automatic Labelling Solution With >10,000 Items Per Day Throughput
Several options have been developed for different B2B partners with different labelling requirements. These options are currently undergoing testing and we will let you know the outcome once it is finalised. We are all set to deal with the huge volumes we are pushing for in 2020.
1. Additional Category Expansion: Perishables
Our partnership with New Zealand Cherry Corp., the largest cherry orchard in New Zealand, signals our first, but assuredly not last, foray into protecting fresh produce.
China’s demand for verifiable authentic high-quality imported fruits and other perishables is on the rise and we aim to provide the market with a variety of fresh products protected by Tael technology.
2. Additional Category Expansion: Health Devices
We pride ourselves in the variety found within our product portfolio, with each item protected by our technology. The first addition to the ‘Health Devices’ category might not be most people’s first guess, but we’re always happy to surprise. While the product is already on-boarded into the ecosystem, a formal announcement will be made soon.
3. Integrate Tael With International Shopping Malls/Payment Provider
One of our most exciting milestones sees Tael integrate with one of the largest department stores in Asia. Our agreement with the soon to be announced entity has been finalized and the set up is currently in progress, covering exclusive in-store promotion, full Tael integration, and department store products protected with Tael technology. And growth. A lot of it. We are excited about this mind blowing development and looking forward to sharing much more info with you soon.
For a brief overview of what this milestone is set to mean for Tael, please read the following article: https://blog.taelpay.com/tael-growth-in-japan-department-stores
1. Expand To 500 Cities
We can proudly say Tael has now penetrated every major population hub in China. Having reached 491 cities across every region in China, Tael’s presence is now in every major city and urban area in the country. We are focused on growing our presence in these regions, which is where our person-to-person referral program really shines. Now we are also spilling over into smaller towns and urban areas which harbor great potential for expansion.
2. Offline Marketing in Restaurant & Retail Establishments
Although Tael’s marketing efforts are predominantly online focused, we don’t intend to ignore the potential of offline marketing. In light of this, we’ve begun collaborating with various restaurants and retail establishments to run pilot programs which help introduce and convert their customers to the Tael ecosystem through promotional gift cards. Further offline campaigns will be announced as they are finalized.
Further Q4 Highlights
1. Dev Week
Tael’s tech team consists of over a dozen people hailing from a variety of countries around the world. In November, all tech members traveled to Tael HQ in Shanghai for a week of high-level technical discussion on the project’s development roadmap and to define the coming 12-18 months of infrastructure technology development. Topics included loyalty points and rewards integration for third parties, advanced label authentication processes, AI-based recommendation engine, further blockchain developments, and more (you'll probably notice few things on the picture).
2. Expanded Reward Scheme
Consumer growth within the Tael Ecosystem thrives due to an elaborate system of incentivized P2P referral and organic growth. We’ve significantly expanded the customer reward scheme logic that drives this system, leading to a more efficient funnel and a higher rate of conversion of both newcomers and repeat customers. We created a dynamic process through which consumers can earn shijifen. This means that we can continue to incentivise consumers for simple things such as scanning the products they receive, whilst driving more valuable data by giving a larger incentive for scanning again after they have opened the product. We can also scale the reward program so that scans on future purchases are rewarded more heavily to improve ecosystem ‘stickiness’.
This logic will continue to be adapted and fine-tuned to support our growth and generate excellent consumer insights.
3. Customer Insights Expansion
The Enterprise Dashboard, available to collaborating partners within the Tael Ecosystem, provides keen insight into customer purchasing behavior and logistics data. Now, through the consolidation of our back-end analytics systems and integration with our WeChat mini-app, we’re able to provide even more novel data, increasing the Tael Ecosystem value proposition even further.
1. Vadim behind-the-scenes at New Zealand Cherry Corp.
Head of Business Development Australia/New Zealand Vadim trekked to Cromwell, NZ to take a look at the country’s largest and fully climate-controlled netted cherry orchard. There he found scenic beauty and NZCC’s state-of-the-art packhouse.
2. Exchange Listings
Tael is available through Kyber Network’s KyberSwap exchange, allowing users to simply swap over 70 types of cryptocurrency into Tael (ticker: WABI).
Periodic ‘Ask Me Anything’ and ‘Questions & Answers’ sessions with the community ensure we adhere to our pledge of project transparency. Q4 saw a Founders AMA session hosted by Binance, a community AMA in the official Tael Telegram group, and a Twitter AMA.
We are aware that our quarterly recaps and roadmap announcements stir up a beehive of activity and questions. You can expect us to announce the next AMA through all channels when a date has been finalized and our 2020 Roadmap is live. In the meantime, you can join the discussion in the official Tael Telegram Discussion group.
2. Tael Earn Campaign
In an effort to both educate newcomers and reward Tael’s existing community, we’re in the process of building a ‘Tael Academy’ in which users can earn Tael by answering questions about the project. We’re aiming to do a soft launch with our Telegram community later this month
This campaign aims to boost Tael awareness; both the project in general and its achievements.
Team Tael & 2020
The achievements and developments contained in this article are the result of an ever expanding team of passionate professionals working hard to make a difference. In Q4 we welcomed two additional members, filling the Marketing Manager and Director of Operations positions: New Zealand born Drew McCartie will be bolstering Tael's marketing efforts while Aaron Arfman will be guiding the project's operations department.
Keen to work with Blockchain and state-of-the-art RFID technology? Want to change the world for the better? We’re actively hiring for a host of new positions, including Digital Marketing, Social Media Management, Logistics & Sourcing, Development, and Product Management.
And all of the above happened in just 13 weeks.