A breakdown of all the questions and answers from our Friday November 1st Twitter AMA, with Tael Founders Alexander Busarov and Yaroslav Belinskiy. This AMA coincided with the release of our Q3 Quarterly Review - if you haven't had a chance to read it yet, take a look to review our progress last quarter and preview what's coming up in Q4.
Don't miss out! A quick note...
We are running an AMA in the Binance English Telegram group on Friday 29th November. Have a question about this post, or anything else to do with the Tael ecosystem? Join us on the 29th to ask us anything!
Twitter AMA Questions & Answers:
- Question: https://twitter.com/Crypto_Stud/status/1190090951957590016
"ETA for when you'll be adding more masternodes from the queue? And how many are you planning to add?"
"Sorry, we've been very busy with many other things (check out our Q3 recap 🙂 https://blog.taelpay.com/q3-quarterly-review)
We'll try to share the info soon after ironing out the details. Make sure to follow @taelpay on Twitter or Telegram Announcements (https://t.me/wabiico) to be notified."
- Question: https://twitter.com/One6tySwiftly/status/1190070878333276161
"Is there a way for US citizens to purchase Tael / Wabi?"
"Tael is available through host of different channels, including @bitladon, @easycryptonz, @coinmerce, @coinspotau, and, of course, @binance.
If these don’t work, which ones would you suggest we approach to add Tael/$WABI?"
- Question: https://twitter.com/Sypher42/status/1189737114663043073
"if all humans died…would wabi try to work with ai to bring us back via cloning and internet memory reintegration?"
"This use case is not something we’ve focused on. But I’m sure some other project(s) are “already doing it”."
- Question: https://twitter.com/Sergeyb88894093/status/1189768601512894464
"Когда вы добавите возможность купить токен на других крупных биржах?"
"Очень активно работаем над этим!"
- Question: https://twitter.com/GtzMarian91/status/1190096148289200128
"When can we expect products with tael rfid in Europe?"
"Tael equipped products are already in Europe: those to be sold in the China market. As for the consumer-facing deployment, we see things developing not unlike digital payments, with things first happening in China & before deployment in the west. Our IOT angle will more likely be more appealing than anti-counterfeiting."
- Question: https://twitter.com/DarkCryptoLord/status/1190237548255182849
- Question: https://twitter.com/Callum_McClure/status/1190240922052644864
"Will Tael protected @ledger become a reality one day"
"Please, let @ledger know if you’ve had/seen issues with fake ledgers. We are open to protect their products."
- Question: https://twitter.com/apathetichodler/status/1190101517858041857
"So all China stores stocking Wakatsuru products will now have Tael labels on the bottles. This product partnership is your BD lead into these storeschains. Great!! Is onboarding these stores to accept Tael payment a bottlenecktime consuming. Is this model scalable?"
"We are not (yet) actively pursuing these stores to accept Tael. What you need to give merchants is not a Business Development push, but users. First question any merchant asks a payment system is “how many more users will it bring”. Once we are over 1 million users, merchants will start queueing up to accept Tael. On top of that, we are working on several special cases where merchants will accept Taels even before we reach 1 million users. Let’s wait for that one to become public."
- Question: https://twitter.com/i_m_akj/status/1190123195359064070
"Need more details on what has been achieved so far in partnership with Rakuten, Nestle and what more to expect down the line. Sales figures, revenue, prediction etc."
"I think quite a bit is covered in our Q3 recap :grinning: https://blog.taelpay.com/q3-quarterly-review
Specific sales figures on specific partners are unlikely to ever be available. I don’t think you’ll find it for publicly listed companies either."
- Question: https://twitter.com/mainor_nick/status/1190100268660203520
"How can I earn tael"
"As a user (in China), you can buy Tael protected products and invite your friends to the ecosystem. Here is a QR code you can scan with WeChat to start!"
- Question: https://twitter.com/420_Bitcoin/status/1190116085925863424
"would you guys get into the marijuana industry to fight counterfeits? A company that does that’s not blockchain is CannaVerify. Tobacco industry also"
"The legal cannabis market globally is just over 10b USD. The markets we target are already over 100b USD. We’ve looked at tobacco market (and engaged with some of the biggest tobacco companies globally) but the market seems to be very complicated and progress is very slow. Plus I don’t think we have any smokers of tobacco on the team, so people feel a bit less passionate about tobacco than baby food and diapers or alcohol. "
- Question: https://twitter.com/Callum_McClure/status/1190154368282025984
"with app, label tech and packaging advancement, is anything holding back mass adoption. Is there a growth limit that you would struggle with?"
"In order to achieve healthy growth, we need to ensure we have solid economics, good user experience & sustainable product development. This approach means it will take slightly longer to get to our first million but also means we can scale to dozens & hundreds of millions later."
- Question: https://twitter.com/Callum_McClure/status/1190156547831152641
"can you tell us more about embedded labels in packaging? Your japanese packaging company; are they spruiking Tael counterfeit protection to their clients?
"Embedded packaging is definitely the direction we are moving towards. It will likely start with Alcohol products, with the chips being embedded in the cap. A ‘Smart Packaging Ecosystem’ would be a good projection of our business strategy."
- Question: https://twitter.com/cfsuman/status/1190199190783029249
"At this time I think, Tael is in top 5 Blockchain project that actually helpful for social/earth/humans. But Tael is growing to small than it have possibilities.
So, what is your plan to expose Tael usefulness to big companies/even governments"
"Growth is definitely picking up and we are working on accelerating that: http://adoption.taelpay.com
Our philosophy from the very start was concentrating on building fundamentals, both business & technological. Now this strong base is set and the results are starting to show. The growth will only accelerate from here and can get us much much further than typical crypto hype could ever have."
- Question: https://twitter.com/Sm0k3y1/status/1190114600550850560
"when can we expect to see tael enter the United States market?"
"US (& Korea) are at the top of the list of sourcing markets. We’ve had a lot of inquiries from US companies to sell their products through the Tael ecosystem but with the snowballing growth in Japan and Australia, we couldn’t accommodate those requests properly yet. On top of that, there will be payment integrations with the US market but those will come in later."
- Question: https://twitter.com/apathetichodler/status/1189771338350641153
"Can will China Uses be able to buy Shijifen with fiat, to be used later for purchases? Is this legal in the china crypto rules. Is it desirable"
"Users get Shijifen for free for their actions: buying products, introducing friends, authenticating products, etc. We don’t exclude the possibility of adding gift cards or doing some form of to/from fiat conversion. These are things for a more distant future mainly due to business reasons, but also playing it safe with the regulations."
- Question: https://twitter.com/saz/status/1190170407531233280
"1. Will there be a promotion/ads for 11.11 in China? 2. KOL campaign in the shared marketing schedule spreadsheet was marked as YouTuber. Isn’t YouTube banned in China and what KOL campaigns are planned for that market?"
"1. Yes, of course!
2. The google sheet detailed marketing in the crypto community. It went quite well, with Tael being covered by well known opinion leaders. KOL campaigns in China are running as we speak. Multiple KOLs are regularly promoting Tael protected products to their followers through multiple channels. I think you can see the results of it in the spike in users on the adoption page: http://adoption.taelpay.com"
- Question: https://twitter.com/apathetichodler/status/1190207647665905664
"I’ve been wondering about this - how will the supplychain scan a whole shipping container of X000 products. Q3recap= “dual-frequency labels which allow for bulk encodingreading in the supply chain” can you explain what this means in practice."
"NFC chips can be scanned with regular mobile phones only at <1 inch distance. UHF (ultra-high frequency) chips can be scanned at long distance (several meters) by special devices but can’t be scanned by consumer phones. Dual-frequency labels (NFC+UHF) combines the best of both."
- Question: https://twitter.com/apathetichodler/status/1190211446321188865
"Will the oneway tael>shijifen system still be used, even though china regulations don’t apply. Do these regulations improve the tokenomics?"
"It is unlikely that we’d have developed the mirror system were it not for the fresh regulations back in the day. However, I don’t think that it would affect anything drastically, since our typical users (women with children in second and third-tier cities in China) are unlikely users of private keys, crypto exchanges, etc. Instead, they find the shijifen (and would have found ERC20 Tael) fun to use, because of the seamless integration in the ecosystem. Not because they could sell them on Binance."
- Question: https://twitter.com/Phoenix2506/status/1190268995141820416
"Hi! Nice work team! As a non wechat user I’d like to know what the cost of a product with Tael vs without Tael is? And second: what is the purpose of Masternodes and how are they rewarded?"
"The price of Tael protected products is normally a bit higher than on major platforms (like JD or Tmall) but not excessively higher. Consumers will gladly pay for the assurance Tael protection provides.
Regarding masternodes, this is a good breakdown: https://medium.com/@Taelpay/weekly-update-17-june-6th-57c138642505"
- Question: https://twitter.com/itZShaiQ/status/1190160548211462144
"Tael consumers are mostly based in china and it’s surrounding areas , what you are doing to bring it other countries?"
"Our clients are already present in Europe, Australia, New Zealand, and Japan. These are the manufacturers who want to access the China market. Building a consumer ecosystem is a very involved task & thus we are going to stick to the biggest consumer market in the world for now."
- Question: https://twitter.com/VictorBri2018/status/1190181762472775680
"Hello, Is there going to be a wallet or a way of staking for my wabi?"
"Staking for ERC20 tokens sounds strange & seems to be caused by a lack of usage of a token. We have growth and adoption plans, not staking plans. There is, however, a masternodes programme where masternode operators get rewarded in Taels, but that’s not staking. 🙂"
Thank you, everyone, for participating. If you have any further questions, please bring them to the Binance AMA on the 29th! Alternatively, reach out via Telegram.