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July 24, 2018, 12:19:21 AM |
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The team leverages blockchain technology to magnify employee satisfaction while simultaneously minimizing employer cost and waste. The primary feature of our system is a virtual marketplace that allows employees to auction gifts while preserving the value of those gifts for later use and/or ccumulation
toward higher-value gifts.
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 – e.g., the ”United Airlines Mileage Plus mall” framework). This system allows employees to exchange an otherwise undesirable gift for value to be spent on a desirable gift. Additionally, 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. Our system is intended to mitigate the chance of HR or management forcing upon an employee an inappropriate gift (e.g. a voucher to a high-end steakhouse being presented to a vegan employee) when an employee could instead make his or her own choice.
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