U.S. Markets closed

Tael Ecosystem Acquires Medical License; Taps Into New Industries

SHANGHAI, Feb. 7, 2020 /PRNewswire/ -- 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 them to expand their 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 stated on the company website.

Pharmaceuticalshealthcare 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.

According to CEO Alexander Busarov
"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."

This achievement follows the company's recently released development roadmap for the year 2020: Tael Ecosystem Roadmap 2020 & Highlights of 2019.

Tael Ecosystem Media Contact:
Wouter de Hoogd
Email: walt@taelpay.com

Related Images

tael-ecosystem-anti-counterfeit.png
Tael Ecosystem Anti-Counterfeit Technology
The acquisition of a medical license allows the Tael Ecosystem to protect a variety of new products through its anti-counterfeit technology.

Related Links

Taelpay Website

Tael Ecosystem Introduction

Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/tael-ecosystem-acquires-medical-license-taps-into-new-industries-300990129.html

SOURCE Tael Ecosystem