Universal Recognition Token – The First Employee Rewards Marketplace

UNIVERSAL-RECOGNITION-TOKEN

Hello, welcome back to our article. This time we will discuss about tokens but this one platform is very different from the others.

Employees can auction their gifts, prizes and gifts to the general public.

Interesting, right?

Let’s discuss

What is Universal Recognition Token?

The First Employee Rewards Marketplace. Universal Recognition Token is the first blockchain-based corporate rewards marketplace where employees may auction their gifts, rewards and prizes to the general public.

What is The Background?

Employee recognition programs are a longstanding feature of corporate workplaces. Most of the spending on corporate recognition comes in the form of gifts — specifically gift cards and merchandise — to celebrate occasions such as:

Events

Sales quota attainment
Years of Service
Birthdays
Promotions
Project Milestones
Corporate Values
Personal Achievments
Wellness
Company founding anniversary
Referral incentives for recruiting
Deal / Task Completions

Holidays

Christmas
End of Year
Valentine’s Day
Employee Appreciation Day
Memorial Day
Mother’s Day
Father’s Day
Independence Day
Labor Day
Halloween
Thanksgiving

Corporate spending on these categories is significant. in the United States alone, companies spend $90B annual on employee recognition according to Deloitte.
Problem
A substantial portion of the gifts given don’t match what the individual employees actually want. This is because HR departments cannot predict what every individual employee wants, especially as the number of offices and employees grows.

A SUBSTANTIAL PERCENTAGE
OF GIFT CARDS GO UNREDEEMED

Blockchain-based recognition is the future

1 | Liquidity
A substantial portion of the gifts given don’t match what the individual employees actually want. This is because HR departments cannot predict what every individual employee wants, especially as the number of offices and employees grows.

2 | Stackability
Because URT is permanently and immutably stored on Blockchain, token value never expires. This means you can accumulate smaller gifts which otherwise would have been wasted into something more meaningful, like a dinner or a trip. It can follow you for life, even if you change employers.

3 | Way Better Prizes
Currently, corporate HR departments pick the prizes for all of the employees. This is challenging because employees have many different tastes and are geographically dispersed in many offices. As a result, they usually pick gifts that are either boring or highly generic (e.g. Starbucks gift certificate or a wristwatch). People are used to these gifts — in 2018, they are not very impactful.

Often times many of the best gifts are local and boutique instead of generic. Dinner at a great restaurant in your city, tickets to a local sporting event, or going to see a show that is playing at your local theatre. Central HR departments cannot know all of the great prizes, in all of the cities, all of the time — it’s too much work.

However, with blockchain, we will have public data on which prizes are highest in demand. This means we can have many more prize vendors submit prizes and the system will automatically tell companies to increase quantity and buy more of the in-demand prizes and phase-out and buy fewer of the less impactful prizes.

*Any excess tokens will be burned after the token sale.

**At launch, there will be 850 million tokens (or slightly less as any tokens not sold will be burned). We are selling 50% of the tokens (437.5 million) between the pre-sale and public sale, and will distribute tokens shortly after the close of the public sale.

TEAM