Vision and Use Case
At LOX Network, we're proud to develop the world's first fully decentralized security network
Designed to target and dismantle the global phone theft industry with a decentralized blacklist empowering the individual to report phone thefts.
The core concept of an IMEI blacklist is sound, but the execution of such blacklists by centralized parties is not. When Satoshi Nakamoto first described decentralized ledger technology in the Bitcoin Whitepaper, it became clear that the technology for eliminating the stolen device trade had arrived.
A Decentralised IMEI Blacklist Benefits Everyone
Using a dual NFT proof-of-ownership model to ensure control across multiple devices, LOX Network puts the power of device ownership in the hands of owners — not wireless carriers.
Just as anyone can build using open blockchain protocols such as Ethereum, Solana, and Polkadot, developers, carriers, law enforcement, insurance agencies, and private individuals can create applications using the LOX Network decentralized blacklist API integration and also accessible via the LOX mobile app and the forthcoming Lostorstolen.io web-based app giving everyone access device status information.
The LOX standard is especially crucial in today's market given that the market for unlocked phones is skyrocketing around the world. In the U.S. alone, a 22-percent increase in unlocked device sales was reported in the first quarter of 2019.
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