UNIVERSAL RECOGNITION TOKEN – The First Rewards Marketplace

UNIVERSAL RECOGNITION TOKEN

Universal Recognition Token is a project that seeks to revolutionize the corporate rewards system by using blockchain technology to create a marketplace that will allow the employees to sell their prizes, rewards, and gifts. The system will also allow the companies to choose the most valuable gifts for their employees.

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Token

Token symbol: URT
Category: HR-tech
Platform: ERC20
Presale token price: 1URT = $0.08
Crowdsale token price: 1URT = $0.12
Total token supply: 875M URT
Tokens available for sale: 437,500,000 URT
Soft cap: 3M USD
Hard cap: 35M USD
Currencies accepted: Fiat, BTC, and ETH

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Employee Recognition Programs

For a long time, companies have been using employee recognition programs to reward hard-working employees and motivate them. The rewards mainly come as gift cards and merchandise. The employees can use the gifts in events such as year of service, project milestones, wellness, and task completion among others. They can also use them to celebrate Christmas, Memorial Day, Father’s Day, and Thanksgiving et cetera.

Problems In The Current Employee Recognition Programs

A recent study by Deloitte has established that in America alone, businesses spend about $90B annually on employee recognition programs. However, there is always a mismatch between what the companies offer their employees, and what the latter want. This can be attributed to the fact the HR department cannot correctly predict what a given employee would like when they win the reward.

Consequently, a significant proportion of gift cards go unredeemed despite the companies spending billions. Besides, a lot of merchandise becomes unused and end up occupying precious space in the garage. This is not understandable given the amount of money that these businesses spend.

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How Universal Recognition Token Will Address These Problems

Universal Recognition Token will use blockchain technology to enhance employee satisfaction from gifts and reduce employer cost and wastage. The system will create a virtual marketplace where employees will be free to auction their gifts to the general public and preserve the value of these gifts for future use which may also include accumulation.

Given that the HR randomly selects the gifts to reward to their employees, UR will try to make their work easier by allowing more vendors into the system. The HR will get a chance to enhance the value of their gifts by considering the market. For instance, when an employee auctions a certain gift, the HR will establish that such a give is less valuable hence will reduce its supply. Alternatively, when a certain gift is rarely auctioned, it will mean it is valuable and the HR will spend more money on the product in the forthcoming event.

UR Token On Social Media

UR has turned to social media to reach more people from different parts of the world. You can like and follow them on their Facebook page. You can ask them any question either by sending them a message or posting it on their wall. You can also follow them on Twitter and be assured of getting important updates about the project. They also have a Telegram page which enables interested people to interact among themselves and also with the company.

UNIVERSAL RECOGNITION TOKEN Team

Universal Recognition Review

The main goal of corporations when rewarding their employees is to reward and motivate them. It naturally becomes frustrating when a company discovers that its gifts are not valued by the employees. The introduction of Universal Recognition Token will see the employee recognition programs become more effective for the benefit of both the companies and their employees.
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