Universal Recognition Token - Auction-based Employee Rewards Marketplace

Billions were spent each year on employee gifts by corporations. Some employees receive gifts that they need and enjoy, but not a minority of employees see these gift unwanted. Therefore, many gifts are discarded. On purpose of making the market of undesirable gifts by matching those gifts with singular wishing to asset them using blockchain technology which is called Universal Recognition Token. 

This system allows employees to exchange an unwanted gift for value to be spent on a desirable gift. Besides, this marketplace liquidity adds perceived value to employee rewards by allowing the value of multiple smaller gifts to be combined and applied toward a future gift of greater value.

What are the advantages of employee gifts blockchain?

Universal Recognition Token (URT) is a blockchain-based corporate rewards marketplace that allows employees to sell and exchange gifts while maintaining the value of those gifts for later use. This blockchain technology intensifies employee satisfaction while synchronously minimizing employer cost and waste. 

When an employee auction off an unwanted gift, the URT Holders will determine the value of that gift by means of their bids. Over time, employers will receive data about which prizes their employees are keeping versus auctioning; due to the fact that blockchain is a distributed ledger, they will also be able to see general demand for items that are auctioned, meaning that even if the employer misses the mark on giving an employee a suitable prize, at least they picked one that has maximal exchange value for the employee. 

URT is lastingly stored on the Blockchain and the token value will never expire. You might rise your tokens, even if you change your employer. The purpose of the token is completely for use in transactions on the URT network. URT removes transactional incompetence and is eventually obliquely linked to the value of all the auctioned assets in the system.

Finding out what benefits of URT

Different parties benefit differently from joining the URT network and holding URT. For the investors and network users, they are able to gain access to the marketplaces of a multiplicity of recognition vendors. When the number of URT tokens is fixed, the value of a single URT token is expected to increase as the number of underlying partnerships and network participants will grow also. 

In addition, recognition vendors release and distribute excess inventory via higher demand due to the reach of a much wider audience. Finally, employee satisfaction might increase if they have a chance to auction rewards they might not want to have and, instead, receive cash or purchase rewards that they would like to have.

In conclusion

Via this blockchain-based and smart contract-driven system, employers can know that employees who have been recognized for their achievements are receiving more meaningful recognition gifts – because the employees have chosen those gifts themselves. Also, by tracking transaction and bidding activities, employers and prize vendors can know what gifts are most sought-after by the market, can increase the supply of desirable items and either reduce or eliminate undesirable items from the marketplace

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Authors : tranduong123

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