THELOGICALINDIAN - Lox Arrangement a decentralized smartphone aegis arrangement leveraging blockchain and NFT technology will accommodate Apple and Samsungs adaptable accessories into its arrangement to action buzz theft
Since smartphones accept become an basic allotment of our accustomed lives, smartphone abomination is additionally on its brief rise. Last year, smartphone annexation costs $30 billion in losses. Organized cartels resell the accessories in atramentous markets about the apple authoritative billions of dollars, creating a appeal for baseborn devices. To action such crime, Lox Network proposes a decentralized band-aid to report, blacklist, and alike retrieve baseborn devices.
The Lox aggregation will aboriginal accommodate the world’s arch smartphone accessories from Apple and Samsung and aim to barrage the belvedere abutting year.
By adopting a leash system, two NFTs and the network’s built-in token, Lox Network allows smartphone users to abundance their advice on the abiding XRP balance and affirmation agenda buying of the smartphones.
With the SmartNFT platform, users can actualize an NFT for their agenda representation including name, email, and added information, and addition NFT for their smartphone autumn the model, IMEI cardinal and added anecdotic information. Both the NFTs are again commutual on the SmartLOX app to actualize proof-of-ownership on the XRP ledger.
In case a accessory is stolen, the buyer can address the abomination through the SmartLOX app. Lox
The arrangement will clue bottomward the accessory with the anecdotic information, banish and lock the device. To advice owners retrieve absent devices, Lox Arrangement empowers users to actualize bounties on the belvedere by advantageous LOX tokens.
“Lox Arrangement puts the ability of accessory buying aback to the owners, not wireless carriers. Integrating Apple and Samsung accessories is alone our aboriginal footfall into active annexation and retrieving assets. We will aggrandize our arrangement to awning added accessories such as smartwatches and alike ebikes,” said Lucas Collins, CEO of Lox Network.
Recently, to aggrandize their ecosystem, Lox Network has partnered with a brace of blockchain companies including StackOS, SoluLab, Bitwork, and Coin Liquidity Solutions.
