What is WaBi?
The WaBi project was developed by Walimai Chinese experts in the field of protecting products from counterfeit and fakes. The initial priority is placed on baby food, alcohol and medicine, but in the future, the platform has the potential to be used in the protection of many categories of goods.
Tael (WaBi) is described as a token used in the Tael ecosystem of consumer products. The goods inside are secured from counterfeit attempts through banking-level, tamper-proof NFC smart-labels, which are connected to digital representations on the blockchain. Consumers interact with labels using their smartphones to verify a product’s authenticity and see the product’s journey. Users and are rewarded for their purchases with the Tael token (WaBi).
Analysts positively evaluate WaBi’s concept – it has significant potential for development and widespread use. The platform does not focus on solving global problems and providing common tools – it sets clear goals in the field that is in demand for users.
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