The Universal Recognition Blockchain is a platform that aims to provide a solution to employees who wish to auction their employee reward prizes, gifts, cards, vouchers, etc. to the general public.
In 2017, US companies spent approximately $90 billion in employee reward schemes. Although some employees may prefer to keep the awards as a souvenir or reminder of their sacrifice and immense contribution to their firms, some may prefer to sell them and get fiat value for their items.
The only solution for this matter is pawnshops or retail outlets. In most instances, these outlets end up giving less than the actual value, as they are usually the last resort for liquidity and they, therefore, take advantage of the situation.
This problem is compounded by the fact that some organizations are out of touch with the tastes and preferences of their employees hence end up giving appreciations that are not desirable.
The Universal recognition is providing a marketplace where employees will publicize their rewards for the public to bid and eventually acquire. This solution will increase the satisfaction levels from employee reward schemes by incorporating a factor of liquidity.
Additionally, the Blockchain will be beneficial to employers by offering them an opportunity to reward tokens on the ecosystems to employees so that they can redeem them for prizes and merchandise of their own liking.
Participants of the Blockchain
Firstly, the Universal Recognition Blockchain will be for employees. They will open individual accounts, place their employee reward items for bids, get tokens after the transactions are complete, and redeem the URT tokens for other items.
Secondly, the employers will be able to reward their exemplary employees by assigning to them tokens on a Blockchain. The employers can then go ahead and purchase gifts of their choice. This will make the employee reward schemes more meaningful and a huge part of the over $90 billion worth projects from being meaningless.
Token Symbol: URT
Price of token: 1 URT Token = TBA
Accepted Currencies: ETH, BTC, Fiat
Token Category: HR-tech
Total Tokens: 875,000,000
Total Token Supply: 437,500,000
Type of Token: ERC20
Presale Dates: Q2 2018
Presale Token Price: $0.08
Crowdsale Dates: Q3 2018
Crowdsale Token Price: $0.12
Soft Cap: $3,000,000
Hard Cap: $35,000,000
Features of the Universal Recognition Blockchain
Decentralized. The Blockchain will not be centrally operated. This will give employees total control of their operations and also freedom from taxation.
Smart Contracts. The network users will operate under a consensus protocol of trust, mutual understanding, transparency, and adherence to set protocols.
Intelligent prize purveying. The Blockchain will have the intelligence to analyze the likeability of prizes based on real-time and public demand. The Human resource departments can then use this data to plan on far-reaching employee reward programs.
With the Universal Reward Blockchain, employees will be able to get real value for their rewards through public auctions. Additionally, employers will be able to make informed decisions when rewarding their performing staff. This will have an overall effect of reducing wastage, promoting productivity and above all improving the economy.