21 July, 2022
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SmartLOX: the world’s first global device security network

21 July, 2022

As many as 70 million smartphones are lost or stolen every year. SmartLOX is a modern solution to an increasingly concerning global mobile device crime epidemic. 

Our goal is to prevent lost and stolen devices from being resold on secondary markets and, ultimately, eliminate global smartphone theft. SmartLOX is specially designed to see that ambitious vision become reality. 

The easy-to-use SmartLOX app lets you manage multiple wireless devices, handling their security, whereabouts, and ownership rights all in one place. It empowers device owners with the ability to remotely block, locate, and blacklist lost and stolen devices, so they can take control over their wireless device security.

A global problem in need of a solution

Between 2019 and 2020, the market for unlocked mobile phones grew by nearly 10%, with an estimated 50 million active unlocked devices operating on mobile networks in the U.S. alone. Adding to the crisis, global smartphone adoption is ever-increasing, so we’re unlikely to see those figures curbed any time soon under the current system. 

So, we’ve created the world’s first global decentralized blacklist for lost and stolen wireless devices…and an all-in-one application to put the power of device ownership in the hands of users. 

Centralized blacklists are ineffective and insufficient solutions 

The global infrastructure that’s currently in place to manage mobile device theft is inadequate. 

As it stands, mobile device carriers have largely agreed upon one method of tracking such devices: the International Mobile Equipment Identity number (IMEI). Every device has a unique IMEI that people can reference when communicating with insurance companies, law enforcement agencies, and wireless carriers to track and blacklist their devices. 

But IMEI blacklists are often proprietarily held, meaning that this information isn’t freely accessible even to law enforcement, making the process of recovering such devices extremely difficult. At the same time, while the IMEI blacklisting method can be effective on a national level, as the stats suggest, it’s had limited success globally. The current system relies almost entirely on centralized IMEI blacklists that are bound by geographical restrictions, so they don’t deter international smartphone crime. 

Our decentralized blacklist, on the other hand, is publicly accessible by default as it utilizes public blockchains. 

The world’s first global decentralized wireless device blacklist 

Through global data sharing, our decentralized blacklist prevents criminals from hiding a phone’s IMEI status, no matter where they are in the world. 

SmartLOX is central to our primary smartphone crime deterrent: a publicly accessible, fully decentralized blacklist and security network. Through the app, users can instantly and remotely block and blacklist their devices, so their value to criminals plummets and so too do crime rates.

Incentivizing device recovery through $LOX rewards

In a fiercely competitive market, there’s very little incentive for phone companies to share information across countries and networks or to agree upon a universal method for recovering lost and stolen devices. 

Our reward system incentivizes users to recover and return lost and stolen devices. 

$LOX is our utility token, acting as the native currency of the LOX Network, and it’s central to our reward system. In the app, users can offer rewards in $LOX for anyone that recovers and returns their device. Similarly, rewards to those who find blacklisted devices with no apparent owner will be rewarded in $LOX. 

Our reward system is tailored to improve smartphone recovery rates, and our unique proof-of-ownership model supports that system and our goal to eliminate wireless device theft. 

A unique dual-NFT proof-of-ownership model 

LOX Network uses blockchain technology and non-fungible tokens (NFTs) to create a proof-of-ownership model that records your device’s history through its entire lifecycle, from production through ownership. 

LOX Network bridges physical and digital ownership, minting and bonding NFT depictions of your device’s identification. Firstly, you mint a SmartNFT containing your identification, including your name, contact details, and any other useful information. Next, you mint a SmartLOX NFT depicting your device that records its make, model, IMEI number, and any other distinguishing marks. 

This way, we can trace the device directly back to its rightful owner and prevent criminals from entering it into the secondary market. Our dual-NFT proof-of-ownership model is verifiable on the blockchain, forming the core of our decentralized security network…and we’ve got plans to further protect your possessions. 

Upcoming projects 

While the SmartLOX app is currently limited to smartphone devices, we’re developing additional features to include network-connected devices like laptops, smartwatches, and other valuable items like e-bikes.

We’re also developing LOX Nano Security Tagging for devices that aren’t network-connected and don’t have any identifying data. Nano Security Tagging is invisible, allowing users to tag and trace their items using Microdot Technology, realizing our aim to eliminate device theft for good. 

Users can also buy tokens, directly chat to customer service, visit our knowledge centre, and engage in the community forum about all things LOX.

© LOX Technology Limited
Company No.13083900  .