Universal
Recognition
Token

The ultimate corporate rewards marketplace

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strong

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Whitepaper

From a broad market perspective to the functional-level goals of the marketplace, down to the nuts and bolts of which operations we intend to keep on chain vs off chain in the application layer and why. Read the URT whitepaper for a complete insight into our Vision.

Whitepaper

URT Whitepaper

Product Roadmap

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

AND LOTS OF THE MERCHANDISE ENDS UP SITTING UNUSED ON SHELVES OR COLLECTING DUST IN BOXES IN THE GARAGE

THE SYSTEM IS INCREDIBLY WASTEFUL, ESPECIALLY GIVEN THE LARGE AMOUNTS OF MONEY BEING SPENT. HOWEVER, DUE TO THAT WASTE, THERE IS ALSO OPPORTUNITY PRESENT.

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.

Announcements

Announcing the lineup that the Universal Recognition Token (URT) team will be attending in 2018

May 7, 2018 by Catherine Streeter

Meet members of the Universal Recognition Token team at the following events, conferences and summits. For details check out our Telegram here.

May

Ethereal summit logo
Consensus 2018

June

Bci summit

August

Cryptoblockcon

September

Token fest

November

Na blockchainexpo 2018

Universal Recognition Token partners with Surprise HR

March 2, 2018 by Brendan Ward

SurpriseHR

Today, the Universal Recognition Token team is happy and proud to announce our first partnership with an up-and-coming employee recognition company — Surprise HR!

With more than 50 companies as clients, including two Fortune 500s, they bring an invaluable expertise in the corporate recognition space as well as immediate scale and liquidity to the Universal Recognition Marketplace. So without further ado, let’s meet the Surprise HR team.

Read the full press release here.