Blockchain Auction-based for Employee Rewards is the future : Universal Recognition Token ICO Review

Everyone like presents right? People receive gifts for many different reasons: weddings, achievements, new cars, home, holidays,etc . The gift industry moves a lot of money every year. . Same goes for freebies that company staff tend to received when they are promoted, hit milestone,.... It’s nice when the gift means something. However, not all of them catch the receiver 's interest and end up on the shelf or collecting dust in the garage and so on, or they simply prefer the gift's value to the gift itself. That's when URT get involved

1.WHAT IS URT?

Universal Recognition Token(URT) is the first blockchain based corporate rewards marketplace where employees may sell their gifts, rewards and prizes to the general public. 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 so they go with a more general gift. Especially as the number of offices and employees grows, the unsatifaction for the gift increase so URT offers an easy way for employees to sell their unwanted corporate gifts and prizes. Therefore can fix the company gift system which is extraordinarily wasteful and inefficient especially given how much money is being spent on thing will never be used.

2.SO HOW WILL URT FIX THE ISSUE?

Urtoken’s platform uses the blockchain to create a marketplace through which people can monetize any unwanted corporate gifts received. When an employee receives a gift or wins a prize, he can take it right then for himself or choose to auction it and receive cash (or alternatively, the employer can choose to credit employee with internal reward points or miles that have the equivalent value of cash and are redeemable for prizes off of a fixed-price prize menu

Liquidity

A substantial portion of the gifts given don’t match what the individual employees actually want. This is because Urtoken.net departments cannot predict what every individual employee wants, especially as the number of offices and employees grows. However, the gift may worth a lot more to others. 'One man's trash is another man's treasure' right? so why don't auction it?

Stackability

Because Urtoken.net 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 or decided to retire.

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. 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.

3.THE TEAM:

Behind Universal Recognition Token lies a visionary team of experts and advisors in all the fields required to bring this project to its full potential. The CEO is Brendan Ward, a serial entrepreneur who has previously led the team at AGS Studios, a mobile application incubator with popular titles in both the Apple and Google Play Stores. His previous experience recommends him to lead Universal Recognition Token to success. Everyone have linkedin profile, you can check it out here : https://urtoken.net/#team

4.URToken ICO:

As with any other ICO, the company will issue its own currency, the URT token, which is based on the ERC-20 standard.[https://en.wikipedia.org/wiki/ERC-20]

The company describes URT as a: “utility token issued on the blockchain solely for use in transactions on the URT network. URT removes transactional inefficiencies and is ultimately indirectly linked to the value of all the auctioned assets in the system.”

*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).

They 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.

Once created, the tokens will be distributed as follows:

• Pre-sale & Public sale – 50%
• Marketplace partners – 19.5%
• Team and Advisors – 30%
• Bounty – 5%

5.ROADMAP:

6.PUBLIC OPINION:

The current rating is high and the community is constantly growing open a very bright vision for this project

7.CONCLUSION:

Many marketplace challenges are unchanging, how to attract and retain the best employee pool, how to provide the most attractive product or service in the marketplace at the lowest possible cost, how to contain costs while increasing revenue. Among today’s challenges are ensuring that capital is efficiently spent and that it produces a positive return, another challenge is to reduce employee turnover and improve employee loyalty. So why not give the power of choice to the persons being rewarded? Rather than spending time and effort curating a list of gifts from a supplier’s list, or presenting employees with branded gifts that may end up in a box or on a shelf, why not reward employees with gifts that match with their beforehand submitted sets of preferences and needs or with cold hard cash which will be the value of the gift? An employee can select what they want with far greater accuracy than an HR staff member can, and a self-selected gift or prize will be meaningful and memorable to an employee and surely make them happy for a few more decades with the company.

I hope my review is informative and helpful. this is Khuong signing off

Connect to them:

Website: https://urtoken.net/

Facebook: https://www.facebook.com/urtoken

Twitter: https://twitter.com/ur_token

Telegram: https://t.me/ur_token

Whitepaper: https://s3.us-east-2.amazonaws.com/urtoken/URT-WPv07b.pdf

ANN Thread: https://bitcointalk.org/index.php?topic=4550909.new#new

Author: Khuongcute2503
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2080664