Tr3zor - First Global Lost And Found Blockchain Network
ICO is introducing the first global lost and found blockchain network. The best part is its ability to offer a global database of lost or stolen items available through mobile apps and browsers.
Losing one’s belonging hurt. Worse still is the thought of not getting it back. Thus, Tr3zor has presented a sustainable solution to dealing with the problem, using blockchain technology and implementing multiple incentive mechanisms. It also uses Ethereum and blockchain technology to store and transmit all data in the platform.
How Many Goods Get Lost in A Year?
Approximately over 500 million items get lost or misplaced yearly in the United States. The most common lost and found items are laptops and smartphones. Most of these items are mostly forgotten at hotels and airports.
Apart from electronics, they are also other items that get lost, including jewelries, watches, purses, wallets, and other electronics. Unfortunately, out of 10, only two of the luggage are reported lost by airport security.
Apart from the physical value, lost items like tablets, phones, and computers contain essential information; for instance, photos and information on hard drives. Unfortunately, such information is quite hard to retrieve. Also, replacing it may take time, making the whole process long and torturous. Not to mention the pain of not ever retrieving the information back.
Filling the Gap of The Existing Solutions
Finding lost items is tricky. Besides hoping and relying on the good faith of strangers, once a person loses their goods, they should consider it gone. Police stations and lost property areas are some places that they can locate their goods. Nevertheless, these sources are often unreliable.
Even with some community-based programs and apps in these segments, tracking lost items is still hard. Many rely on strangers to return lost goods, and most of these sites are not even popular.
The lack of a global network has contributed to the continued tears of individuals who lose their items. Even with attempts to create an interconnected network of searchers and finders, none of them has been 100 percent successful.
Such networks need to be secure and grow over time. They need to secure an ample amount of users’ overtime. With a high number of participants, searchers and finders are likely to meet their goals.
For quite a while, it's become challenging to achieve such a goal. Thus, the introduction of tr3zor is steering things in a new direction.
Lack of Incentives
Although some people are happy to return lost goods, not everybody who finds a belonging, freely wants to give it back; mostly when the items are valuable. Black markets also operate freely, and anybody can sell are buy things from those spaces.
Unfortunately, there is demand for stolen goods. Therefore, it was necessary to create a global platform that tracks stolen goods. It becomes hard to buy or sell stolen items in such a network because the item is exposed.
Marketing
Marketing has been a massive problem with the past community-based network. Combining a lot of marketing strategies is the key to making the network stand firm. Some of these marketing strategies include affiliate programs, partner acquisition, and community building on platforms like Facebook, Twitter, Quora, Instagram and Pinterest.
How the Platform Operates
Tr3zor network offers a global database of lost and found items. It’s borderless, with swift and cheap digital transactions. Anybody across the globe can become a member without much hustle. It’s high in security, and the immutability of the blockchain network ensures that there is security.
Tr3zor creates an interconnected and cooperative network between multiple entities in places where people mostly lose their belongings. The network establishes connections with lost and found items in cities at airports, hotels, police stations, public transport companies, buses and railways stations, and several other places.
Additionally, it strives to reach its full potential, even beyond the community-based model. With such a system, most lost items are likely to find their way home. The more people join, the more it will spread its wings, resulting in new users' accumulation and widespread international adoption.
The platform uses the TR3 utility token that’s based on the ERC20 as its primary payment instrument. Apart from facilitating all bounty rewards, it serves as an incentive machine that encourages interaction on the platform.
Also, there’s gamification -based tiered system that provides additional motivation using the TR3 token. Both finders and searchers are rewarded with bonuses after they reach particular milestones. An example is when they obtain their first bounty.
Users can also get fast payouts anytime they decide to exchange the tokens in the Tr3zor account for a cryptocurrency of their choice and demand payout for their money.
One can also use tokens like ETH or BTC, but the TR3 token has tons of benefits. Through using these tokens, it's easy to get exclusive rewards from the gamification mechanism. Users are ranked depending on the number of bounties they receive or those granted to other users.
A bounty is collected only when a finder confirms they found an item. TR3ZOR collects 5% of the bounty as fees. It’s one of the significant ways the platform is being monetized. Also, it depends on the searchers and finders in the ecosystem to reach its goals.
Once a person loses an item, they post it on the platform and offer a bounty as a reward to anyone who retrieves it. The person has to include the little details of the items. For instance, if it's a 'phone,' they have to state the model, whether it was lost or stolen, and the location and images that can be analyzed automatically by the Tr3zor platform. They have to provide any information that can help in locating the item.
After submitting the item, the database scan items matching the description, if found, the item is dispatched to the searcher.
Users utilize the browser or the mobile phone app to find a possible match with any registered, lost or stolen item. The Tr3zor platform would then synchronize the data and try matching the searcher and finder. Since the information here is sensitive, Tr3zor bridges it to the transparent blockchain network using APIs. The process ensures the information contains proof against forgery, and all activities can be shared safely.
When an item is confirmed to match a specification, the finder possessing the item is notified via the push notification on their phone or web application. The searcher is also informed about the match, and communication between the two is established.
They then both discuss, and when they agree, the searcher can decide to reward the finder with a bounty reward. However, these bounties are optional. The platform encourages this, as it acts as a sign of goodwill from the finder. In such cases, they are rewarded with a special badge and rank on the tr3zor platform.
Finding or submitting the rewards on the platform ensures the users rise to higher ranks, making them eligible for additional rewards in TR3 tokens.
How to Sign Up
The signing up process into the platform is easy and fast, just like any other social media platform. The network is available on both IOS devices and Android platforms. Users don’t have to make deposits in the TR3 or other existing currencies, whether fiat or crypto, to get into the system.
There is no need to submit bank information, set up a wallet, or do anything difficult associated with crypto.
Users mainly have two roles; searchers and finders of items. When a finder recovers a lost item, the first step is to submit and register it on the platform. Submitting the item on the forum is free.
Curbing Fraud Cases
No matter how good a platform is, there might emerge frauds who want to take advantage of some situations. These situations may, unfortunately, tarnish the name of an excellent network.
Sometimes, a searcher can receive the bounty but never ship the item to the rightful owner. The finder can also find themselves in a disadvantageous position. To prevent fraud from either of the parties, the platform devised an item called minimum collateral mechanism.
Through it, each user has to deposit a minimum amount of TR3 coins in their wallet. The token is then locked for a particular duration of time during an exchange. It acts as a deposit and security. When a case is reported, and confirmed as fraud, the collateral is seized from the accused user, and their account suspended.
Why People Should Try TR3ZOR
Nobody knows when they’ll lose their belongings. They can either be mugged or unintentionally forgetting it. Fortunately, TR3ZOR has come to rescue people in such situations. With such a platform, stolen and misplaced goods will be easier to find.
Unlike the traditional methods that lacked incentives, the platform encourages engagement from the users through rewards. The multiple incentive mechanisms offer bounty rewards through the gamification system.
Tr3zor has a high success rate, as it offers chances of finding the lost items due to its vast network of stakeholders.
