In March, we announced being selected as one of eight companies to participate in the Digital Innovation business accelerator, spearheaded by Mitsubishi UFJ Financial Group (MUFG), one of the 10 largest banks globally*.
A brief status report on our progression
Over the course of the past months, the Digital Innovation accelerator has granted us access to MUFG’s vast network of valuable contacts in Japan, allowing us to enhance our current business development and speed up the creation of new products & services as well.
Since our involvement in the accelerator, our business development in Japan has been bolstered significantly and we’d like to keep our community abreast of some of the leads we’re currently pursuing in Japan.
Please note, until these developments are finalized we will not be able to share the specifics of these entities.
Product category expansion.
With the help of the Mitsubishi UFJ Financial Group, and their Digital Innovation accelerator, we’ve been introduced to a major Japanese pharmaceutical company and have begun discussions about applying our unique anti-counterfeit technology onto their OTC drugs for cross-border commerce.
The current Tael Ecosystem product portfolio covers Infant Nutrition, Supplements, Cosmetics, and (imminently) Wellness & Lifestyle products. This development could potentially see us break into the pharmaceutical product category, a much-requested category addition within the community, ahead of schedule.
Integration across nations and currencies.
Both Tael & Tael Ecosystem operate on the cutting edge of technology while making sure to retain mainstream usability: the Tael Ecosystem ecosystem relies on an advanced anti-counterfeit solution to secure items both digitally and physically. The Tael token requires only a single scan for a consumer to become a holder. By working with other forward-thinking companies, we can hasten the future of this technology.
We’re currently preparing for a major Japanese company to run a Proof of Concept with Tael Ecosystem, which includes the testing of atomic swap in view of future points (Tael) integration across nations and currencies.
In addition, we’re in talks with one of the largest printing companies in Japan, employing over 45,000 people and earning more than 15 billion USD in revenue a year, to develop smart packaging for Japanese manufacturers. This potentially includes the integration of our labels directly into product packaging during manufacturing.
The potential growth of both Tael & Tael Ecosystem in Japan is promising. Japan is not only a source of the most in-demand products for Chinese consumers but is also a technological hub, ripe for cooperation through our unique anti-counterfeit solution and more.
Keeping this in mind, we’re tapping into additional resources by initiating cooperation with a major Japanese advertising agency to further grow Tael Ecosystem & Tael awareness.
We’re also working on a partnership with a Japanese cross-border ecommerce company to protect authentic Japanese sake, one of the country’s most iconic exports. You can read more about the benefits companies enjoy working with us:
This Is Why Our Partners Have a Strategic Advantage utilizing Tael
Furthermore, we’re making great strides securing a collaboration with a local government in Japan. We’ll keep the Tael community informed about any developments.
Outside of our recent MUFG developments, we will also be further detailing and expanding our partnership with Rakuten. Stay tuned for more info.
We hope to share more details soon as these talks develop further.
Thank you for your continued support!
*in loans and deposits: https://www.mufg.jp/dam/ir/presentation/2018/pdf/databook1809_en.pdf