A COIN WITH A MISSION
We’re creating a global community
to end online buying & selling of lost / stolen / fake consumer goods,
bringing affordable personal property protection
to billions of under- & un-insured people and businesses world-wide.
THE REJJEECHAIN WILL HELP PEOPLE LIKE YOU PROTECT THEIR VALUABLES
WITH THEIR PHONES – WITHOUT PAYING A MONTHLY INSURANCE PREMIUM –
CREATING AN INSURANCE ALTERNATIVE FOR BILLIONS OF PEOPLE
WHO DON’T WANT TO OR CAN’T AFFORD
40% DISCOUNT PRE-ICO TOKEN SALE 11/15/2017 – 12/31/2017 – CONTACT US
SIGNUP NOW & DOWNLOAD THE APP PRIOR TO CLOSE OF THE ICO
AND RECEIVE A 10-PACK OF REJJEECOIN AT NO COST.
DRAFT – ALL INFORMATION HEREIN SUBJECT TO CHANGE WITHOUT NOTICE.
Millions of people every month lose something they value – from a kid’s bike to a laptop to a backpack – and most of these items end up for sale online. According to The Economist, the buying and selling of lost/stolen/fake consumer goods represents a $1.8T annual marketplace. The value of many items falls below typical insurance deductibles, or often people have no insurance at all. We can’t protect every home or office from burglars/thieves, but where most people around the globe own a smartphone we can disrupt the marketplace for stolen goods – both online and at local stores – by converting the RejjeeApp into a blockchain-based personal property protection service so billions of uninsured people world-wide can protect the valuables that are critical to their life and livelihood. In developed economies Rejjee will deliver personal property protection to millions who can’t afford it or whose policies don’t cover many of their valuables; and in emerging economies what micro-lending did for people blocked out of traditional banking Rejjee will do for people blocked out of traditional insurance.
The RejjeeChain will be a decentralized blockchain platform built on Ethereum blockchain and smart contracts. It will allow users to authenticate ownership of consumer products – such as electronics, clothing and fashion accessories, sporting equipment, bicycles, and power tools – at the bulk or individual item level for the purpose of validating transfer of ownership or custody to another party. Applications built on the Rejjee blockchain will allow users to establish ownership at any point in the supply chain providing buyers or transfer agents (wholesalers, distributors, retailers, resellers, etc.) with clear ownership provenance and right to transfer ownership by the seller. Our goal is to help companies and consumers transfer and trade goods with greater surety of a legitimate transaction, thereby reducing the market for lost/stolen and counterfeit goods. Our expertise in the fields of software development, blockchain & cryptography, coupled with actual market experience / knowledge give us the confidence in creating a blockchain that is superior to all existing solutions.
This site documents the successful history of the Rejjee alpha which proved market demand and adoption, components of the Rejjee beta including technical specifications, and plans for global expansion and scaling. It also includes proposed applications that will run on the Rejjee blockchain using Rejjee tokens.
The RejjeeChain will be developed in partnership with Microsoft. In 2016 Rejjee was selected as a Microsoft BizSpark Plus partner, and Microsoft has donated $360,000 in secure Azure Cloud hosting credits in support of the project.
Rejjee has also been selected to be a member of the Google Strategic Ventures Labs in Boston starting in February 2018, working with other fintech/insurtech startups developing the next generation of data driven innovations.
The Rejjee blockchain development network includes technical and business experts with direct experience deploying large scale applications with global 500 companies. Our corporate governance & oversight includes Burns & Levinson one of Boston’s leading law firms, Silicon Valley Bank the leading startup financial institution, and the noted accounting firm Bigelow & Company which has prepared Rejjee’s federal and state tax filings since 2014. (See bottom for more detail).
Rejjee has also committed to invest 10% of proceeds from the May 2018 ICO to ecosystem development to support third-party development of applications to run on the RejjeeChain.
Estimates for the total value of fakes sold worldwide each year go as high as $1.8 trillion.
– The Economist, 2015
We’re issuing a coin with a mission!
Ask yourself, “Is this acceptable?” The annual volume of on-line re-selling of stolen goods is $30.6B in the U.S.A, while the international market for re-selling fake goods is $1.8T!
2M+ people in the US lose something they value every month – from a kid’s bike to a laptop to a backpack…and even tradesmen’s tools, personal electronics and jewelry. Over 12,000 laptops/tablets are stolen/lost from US airports each week! Worse still for these victims are the real-world and cruel realizations that the value of many of these items generally falls below their insurance deductible, or sadly, too many people don’t file a claim anyway in fear that their rates will rise or they will lose coverage. Other victims might even have no insurance because the monthly premium is just plain un-affordable.
Even more offensive is that most stolen items end up for sale online because the bad guys have learned how to make technology work for them.
So what’s out there protecting you now? It’s non-integrated lost & found, terrible brand registration systems that are poorly maintained, online bulletin boards and weekly shopper papers, or even…Craigslist! Then consider how ineffective the range is of a 3v battery-powered ‘tracker’ device is, or worse still, how uneasy you would feel knocking on an unknown door when you see your stolen bicycle on the porch of that apartment.
Smartphones & blockchain come to your rescue. Rejjee is a platform that can cause a deep wound to on-line fencing of stolen goods, and slams the door on the shady international trading in fake/stolen goods on what the world knows as The Silk Road.
Starting in 2015 Rejjee unleashed CrowdFinding to help consumers, police and insurers to up their game. Our greater-Boston-based MVP/market trial tells the story: With little promotion users downloaded the RejjeeApp to document their property, we recovered their stolen items at 10x the US national average, and soon were selected by a national cycling organization as their official registry. Police even posted items that they recovered on Rejjee so they could connect with rightful owners and return valuables! Rejjee even helped a few police departments catch some bike thieves (see video below).
We helped Boston reduce their theft problem, now we’re ready to take on New York City, Philadelphia, Washington, DC, – or even London, New Deli or Berlin. Pick any metropolitan area around the globe, and chances are great that the size of the theft/fake goods market could easily be larger than the GDP of some countries. In tiny and sophisticated Amsterdam officials say that 50% of all bicycles are stolen each year!
The ubiquitous, intelligent weapon of choice to combat global theft is the smartphone, coupled with the RejjeeApp. Moving Rejjee onto blockchain will empower billions of people and public safety professionals world-wide to engage in community CrowdFinding, scour e-Fencing websites for their lost valuables, and with additional personal property protection technologies on our roadmap will make Rejjee the recognized leader. Together we can create the ‘carfax’ for everything, disrupting the online market for stolen goods and an alternative to in-effective traditional insurance.
THE INSURANCE ALTERNATIVE
For billions of people around the world traditional insurance models don’t work; many don’t want to pay a monthly premium and many more just can’t afford it. Even if you have personal property insurance the reality is that more than 80% of the stuff you own cost less than the typical insurance deductible, yet the majority of losses are these very items – so if your losses aren’t covered why pay a monthly premium?
The key to protecting your personal property is making it harder for thieves to re-sell your stuff. The Rejjee ‘crowd-finding’ network recovers lost/stolen property at 10X the US national average, and within minutes it delivers discount replacement offers from leading online and local retailers so you pay less to replace your lost valuables. Rejjee is NOT insurance. It’s a tool for documenting ownership making it harder to for bad actors to trade in stolen goods, either online or in local stores. With your help we can migrating the existing mobile-app and crowd-finding platform into a global personal property protection blockchain delivering a solution for people that traditional corporate insurance companies can’t or won’t service – from New York to New Guinea, Paris to Pretoria, Buenos Ares to San Francisco.
First Applications at Go-Live
Targeting supply chain agents and urban professionals ensuring transfer/sale of products world-wide.
The existing, already successful RejjeeApp (available on the iTunes or Google Play Stores) will be integrated with the RejjeeChain. Users can download the app, register an unlimited number of valuables creating a unique Universal Asset Token (UAT) to protect the provenance of each item, and file reports of lost/ stolen valuables at no cost. The app can be used by consumers, manufacturers or retailers seeking to secure their assets.
If users wish to trade, transfer from one agent to the next, buy, or sell items with a UAT they will use RejjeeCoin to transfer ownership of the UAT.
Transaction Process Flow
- User is presented with an item for transfer in the supply chain, or for sale online or in-store.
- Agent/buyer request to see the RejjeeUAT to verify ownership.
- All Rejjee accounts will be provisioned with 10 RejjeeCoin. Ownership of the UAT is purchased with RejjeeCoin and transferred to the buyer’s RejjeeApp account. RejjeeCoin can be purchased in-app or through the Rejjee Wallet in blocks of 10 for consumers or up to 100,000 for large enterprises.
- If an item is reported lost/stolen the UAT is frozen – similar to a lost credit card alert – and the user also receives product category-specific discount replacement offers from online and local retailers to mitigate the cost of replacing the item — lose a Microsoft tablet at the airport, get a discount replacement offer on a new Surface Pro valid at the local Microsoft Store or online (it’s that easy, and free to the user). Registration using a UAT, loss reporting, and discount replacement offers are all zero cost to the user – creating a no-cost product/buyer protection solution.
SIGNUP NOW & DOWNLOAD THE APP PRIOR TO CLOSE OF THE ICO AND RECEIVE A 10-PACK OF REJJEECOIN AT NO COST.
History of the Rejjee blockchain.
Work on Rejjee began in January 2014 by its founding development team based in Cambridge, MA USA and Hyderabad, India. They saw that a growing number of stolen goods were being fenced online, and the tools available to victims and police were inadequate. Specifically, sellers could easily mask their identity changing it many times without detection, there was no world-wide code structure for tracking and searching for individual items when they got posted for sale online, and while thieves were benefitting from the boundary-less Internet police were constrained in their ability to operate beyond their limited jurisdictional lines.
They also saw that the value of many of the items posted for sale fell below the typical insurance policy deductible, and below most police department solvability factor threshold. As a result, few insurance claims or police reports were filed, leaving a data black hole of incidents where the item/incident value fell below US$10,000. These incidents were funding other civic troubles such as street-level drugs and human trafficking.
A basic property registry tool was developed and distributed via the mobile RejjeeApp, which enabled users to secure data about their valuables in the cloud, report loss/theft in real-time on their phone, and have reports posted on the Rejjee Crowd-sourced Lost & Found platform. The Lost & Found platform enabled online shoppers, used goods dealers, and police in a secure environment to verify that an item posted for sale online had not been listed by another user as lost or stolen; prior ownership could be established via the Rejjee Crowd-finding platform through a search by product category, region, or serial number. The platform proved highly effective. In 2015 stolen items posted by Rejjee users were recovered at 10X the US national average, and the platform was cited by multiple major law enforcement agencies including the Boston Police Department and the MBTA Transit Police as an effective tool in their efforts to reduce crime. While the launch focused on one geographic region, Boston, the app and platform were developed with global reach & scale.
JOE’S ONLINE SUPERSTORE
Green Kona 21 Speed Bicycle. 2014. Original paint. New handlebars and tires.
Serial # 54321. Asking price: $550
[SEARCH SERIAL #54321]
Powered by Rejjee
A TALE OF THREE BICYCLE OWNERS
1. Reed lives in San Francisco. He’s a high tech and business reporter, and when he’s not working he’s also a sponsored professional bicycle racer. One day, Reed has his bike stolen. Soon he saw his custom bike with name printed on the frame for sale on eBay. He called eBay and they said it wasn’t their problem, call the police. SFPD said there was nothing they could do. The bike was sold to a guy in Texas. Reed never got his bike back. Watch Reed tell his story to the Wall Street Journal.
2. Lucy was a graduate student at MIT. When she wasn’t studying she rode for the MIT mountain bike racing team. One day, Lucy had four bikes stolen from her shed. But Lucy had her bikes registered. She posted the report on Rejjee, and contacted local police. Within a few days one of her bikes was posted for sale on Craigslist by a seller in nearby Charlestown. She called the police, they set up a sting, Lucy could prove ownership so she got her bike back – and the bad guy went to jail. See the story as documented on Fox News.
3. Ken owns a green Kona 21 speed. He is the co-founder of Rejjee. He rides to work, on the weekends with his wife and friends, and sometimes as ride marshal for Boston Bike Party. One day he had his bike stolen (not really, but keep reading). He posted the theft on Rejjee, contacted all of his friends on social media so the crowd in the cloud could help him find his bike. But he also knew that (soon) even if a seller tried to posted it for sale on eBay or Craigslist s/he couldn’t verify ownership or right to sell because the RejjeeChain validated ownership from Kona, to the local bike shop in Somerville, to Ken. From a buyer’s perspective, try this test of the Rejjee alpha for yourself:
- Go to the Rejjee Lost & Found (you may or may not see items listed depending on your location)
- Input Serial Number enter ‘54321’ (no other search parameters) and click Search
- Hey! That’s my bike!
In 2017 research into a public blockchain began to explore the viability of upgrading the core Rejjee functionality from a closed database system focused on enabling buyers to verify an item posted for sale, to a decentralized platform enabling sellers to prove ownership and right to sell. A design was created, the team was expanded, and this fundraiser launched to support the project and roll-out of the RejjeeChain world-wide.
Why are we building the RejjeeChain?
We are building the RejjeeChain so buyers know what they’re getting. By creating a token for tracking and transferring ownership, from manufacture and shipment of goods, throughout the supply chain, to the initial sale online or in-store, all the way to authentication of items posted for re-sale online by the rightful owner, the RejjeeChain and tokens help ensure legitimate buying/selling of consumer goods. In addition, the RejjeeChain will also help consumers authenticate lost/stolen items reported to police or claimed for insurance to improve recovery rates and speed up the claims process.
Problem #1: There is no one single secure database for establishing ownership of consumer products across all categories
While many consumer product companies track ownership for warranty or service purposes, the vast majority of valuables are not tracked once purchased. Individuals may be rightfully concerned about personal privacy if one corporate or government entity were to attempt this. But the lack of ownership trace-ability has also led to an estimated $1.8 trillion dollars in sales of stolen, faked, or counterfeit goods world-wide, each year. Efforts to create tracking systems to prevent illegitimate re-sale have mainly focused on individual product categories such as bicycles, jewelry, or musical instruments. But it is impractical for online consumers, law enforcement, or insurance companies to monitor multiple systems.
The Rejjee Blockchain will provide a secure, decentralized platform creating an immutable registry of all types of consumer products. It will deliver the ability to track an item throughout the supply chain, from manufacturer to customer to re-sale.
Problem #2: Customer Loyalty
During lifetime of ownership of an item, vendors would like to stay in connection with customers and provide services such as recalls and replacement at the end of life of the products. But due to the middlemen vendors lose connection to the owners of the products.
Solution: RejjeeChain Asset Token
The RejjeeChain Asset Token will provide ownership tracking even if an item is resold. The Tracking will allow the vendors to provide services such as discount services to retain customer loyalty, recalls and replacement offers.
Problem #3: Buyers have a right to know what they are getting
If a seller cannot prove rightful ownership they can’t transfer good title of ownership to the buyer – whether its from shipper to wholesaler or retailer, retailer to consumer, or consumer to consumer in a second-hand market. When it comes to real estate, automobiles and other major purchases ownership provenance and title transfer rights are easy to prove. But when it comes to consumer products the history of an item listed for sale online can be very difficult to establish. Unscrupulous sellers take advantage of the anonymity of the internet to mask their true identity, in spite of the best efforts of diligent host sites. They also take advantage of the lack of boundaries often living in one state, stealing in another, and selling to a user thousands of miles away – whereas police are often constrained in their ability to operate beyond their limited jurisdictional lines. Proving rightful ownership allows sellers to legitimately transfer/sell any item(s) throughout the supply chain.
Solution: RejjeeChain Verification API
The RejjeeChain Verification API allows third-party developers operating at any point in the supply chain to create applications that let their customers/users establish ownership provenance of the item(s) being presented for sale. If there is any question about the transaction, verify it on Rejjee.
Problem #4: A data black hole exists in a trillion dollar annual marketplace
More than 80% of consumer products are priced below the typical property insurance deductible. At the same time, law enforcement agencies operating under constrained budgets apply a ‘solveability-factor’ to new cases, often calculating a virtually zero factor for incidents of lesser value resulting in no or marginal follow-up. As a result there are few claims and even fewer police reports filed for incidents that fall below ~$10,000. There is little data upon which insurers, law enforcement, product manufacturers, or consumers can rely on for making proactive plans to minimize losses and protect consumers’ rights.
Solution: RejjeeChain Analytics
The RejjeeChain will enable detailed analytics of a constantly growing database of incidents currently going un-documented. The open source blockchain gives developers opportunities to create analytics serving various consumer, business and government purposes.
A Northbrook couple and their adult daughter have been arrested for allegedly pulling in $4.2 million on eBay by selling off toys and other merchandise they’d stolen during a 10-year shoplifting odyssey.
– CBS Chicago
You’ve got to think of the theft of smart devices as an economy, and you’ve got to destabilize that economy. You’ve got to disrupt the supply chains.
– Wired, 2014
USA – FBI Uniform Crime Report 2017
Raw data below are estimated at only 25-30% of actual incidents
LARCENY-THEFT: (Not including autos/arson; unlawful carrying away of stuff)
- 5,638,455 incidents
- $999 value lost per incident
BURGLARY: (Forced/unforced entry)
- 1,515,096 incidents
- $2,361 value lost per incident
- 23.8B incidents
- $30.6 Billion Value Lost
FOR SALE BY…
What is Etherum
Ethereum is a decentralized platform to program the applications, customized blockchains, digital public and distributed ledgers that record every transaction made using a crypto-currency. Ethereum enables applications to run without interference of third parties, censorship, downtime or fraud.
The inspiration for developing Ethereum was taken from the Bitcoin Blockchain. But, Vitalik Buterin, creator of Ethereum, took the concept to a whole new level by expanding and generalizing it so that it can be used to run apps, websites, and even organizations without relying upon computer servers.
Ethereum can be used to create tokens that represent digital assets called Ethereum tokens. This is similar to the App Store providing a platform for iOS apps with some apps issuing their own digital currencies that are used within the game or system. However, with Ethereum there is no centralized entity like Apple that controls what gets added to the App Store. Anyone can create a token on top of Ethereum.
Ethereum allows smart contracts – distributed computer programs that can facilitate online contractual agreements in a cryptographically secure manner. Ethereum is open-source and adopted by institutions like JP Morgan, Deloitte, IBM, Santander Bank, Microsoft, the Luxembourg Stock Exchange and Toyota.
Tokens can be used for a variety of purposes such as paying to access a network or for decentralized governance over an organization.
Rejjee is one such decentralized platform that aims to provide provenance of ownership to any physical or digital goods. Rejjee platform will provide tokens to represent assets and tokens to transact these assets using smart contracts.
RejjeeChain creates 2 types of coins on Ethereun:
- UAT (Rejjee Universal Asset Token) – Represents an Asset Token that can represent an identifiable item or collection of items that can be tracked
- RJC (Rejjee coin) is native currency used to pay transaction fees for contracts associated with RejjeeChain.
UAT (Universal Asset Token)
The network has an asset token (Universal Asset Token) created whenever a new asset is created and introduced into the chain by a manufacturer. The Asset Token can represent a new Asset which has identifiers such as Manufacturer, Serial Number which can uniquely identify the Asset by that manufacturer or a carton of items that don’t have the unique Id. The Asset can be created and added to the RejjeeChain. The Asset token can be transferred from one account to another account providing an immutable record of the ownership history for such an Asset.
Asset Token will have information that smart contracts need in order to provide different services.
RejjeeChain will provide framework for service providers such as Manufacturers or others to create smart contracts that will work with Asset Tokens.
The Smart contracts use Asset Token along with other information that can be stored in Side chains privately that may not be available to public.
RJC is the native token that is used to perform transactions involving the Asset Token UAT. For example in order to invoke a smart contract such as Report Asset as stolen requires RJC as the currency. The “Report Asset as stolen” smart contract may decrypt information from Asset Token that is not previously made public by the owner in order for others to detect the transfer of any transfer of the Asset.
RJC will be a ERC20 token.
ERC20 token standarddescribes standard functions a token contract can implement. ERC20 is a standard interface for tokens. ERC20 tokens are simply a subset of Ethereum tokens. In order to be fully ERC20 compliant the developer needs to incorporate a specific set of functions into their smart contract that at a high level will allow it to perform the following actions:
Get the total token supply
Get the account balance
Transfer the token
Approve spending the token
ERC20 allows for seamless interaction with other smart contracts and decentralized applications on the Ethereum blockchain.
RJC removes the need for intermediaries and having a central authority you need to trust – through smart contracts for transactions such as registering/transferring ownership, buying insurance, reporting lost items, tracking selling of items, recovering items, rewarding the finders, paying insurance for the claims, and replacing lost/stolen items and other services not envisioned but can be provided by third parties.
The miners earn by creating blocks of ownership transfers or executing smart contracts provided by Rejjee or any other service provider. Conversely, clients spend RJC whenever they transact over the chain and invoke smart contracts. As with Bitcoin, RJC miners compete to mine blocks with sizable rewards.
Who are the participants in RejjeeChain?
The Initial set of nodes will be created by Rejjee Inc. and an set of manufacturers that Rejjee will get on board.
- General public
- Post ownership records on the blockchain
- Post lost items on the blockchain
- May never run a full node
- Access the blockchain using app supplied by either
- Rejjee Inc
- Third-party App developers ( competing with Rejjee Inc)
- Insurance Companies
- Law Enforcement
INCENTIVES FOR USE & MINING
Ultra-low cost insurance & recovery of lost/stolen valuables: Consumers will use the RejjeeChain and purchase UATs as an ultra-low cost insurance protection. Billions of consumers own many products where the value falls below the typical insurance deductible, so in the event of loss there will be no financial recovery. Rejjee UATs ensure items can not be re-sold online so all users have to do is add a Rejjee sticker to their items as a sign to thieves to keep hands off. Consumers can also report loss/theft either through the current RejjeeApp using RJCs or any third-party application developed in the future for the RejjeeChain of an item they know falls below or near their insurance deductible, or may not be insured at all to increase their chances of recovery.
- Will run a Full Node
- Use RJC tokens to post from a node to register Initial ownership of manufactured items using UAT tokens
INCENTIVES FOR USE & MINING
Promotions & Sales: Manufacturers adding UATs to their products can add a RejjeeChain sticker to their products and packaging to promote built-in anti-theft protection (like an ADT or home security sign in the front yard). This will help increase competitive positioning and resulting sales. It will also allow manufacturers to track the status of all devices so that near the point of obsolescence they can promote new models to their users. Manufacturers can also take advantage of the Rejjee Replacement Commerce engine that has already proven successful, delivering brand-specific discount replacement offers to consumers reporting lost/stolen items – ‘Lose a Microsoft Surface Pro tablet? Report it using this tool (RJC requires, sponsored by manufacturer and free to users) and get 25% off a new Surface Pro at the Microsoft Store today.’
Manufacturers can also demand that a RejjeeChain linked app be used to verify sending and receiving of any shipments anywhere in the world. If an RJC is not passed then the shipment may be counterfeit or fake goods. This will also allow them to track exactly whether or not their goods end up in the hands of the proper seller.
- Run a node to get access to lost item information
- Use RJC coin to create ownership records for their customers ( incentivise customers)
INCENTIVES FOR USE & MINING
Promotions & Sales: Manufacturers adding UATs to their products can add a RejjeeChain sticker to their products and packaging to promote built-in anti-theft protection. This will help increase competitive positioning and resulting sales. It will also allow manufacturers to track the status of all devices so that near the point of obsolescence they can promote new models to their users. Retailers can also take advantage of the Rejjee Replacement Commerce engine that has already proven successful, delivering brand-specific discount replacement offers to consumers reporting lost/stolen items – ‘Lose a chainsaw bought at The Home Depot? Get 25% off a new saw at The Home Depot around the corner today.’
Third-party App developers
- Run a node to get coins which can be sold to manufacturers, Retailers and end users.
INCENTIVES FOR USE & MINING
Third-party companies invested in UATs or RJCs can create applications either to capture direct revenue from the application or help to increase the value of Rejjee tokens through expanded use and utility.
- Will run a Full Node
- Use UATs to verify ownerhship and track purchase date and value in the event of a claim
- Use RJC tokens to post from a node to freeze UATs and/or track stolen items online
INCENTIVES FOR USE & MINING
Reduced fraud & number of claims & increased recovery rate: Insurance companies can require customers to use UATs to identify any scheduled or non-scheduled items. Through a RJC linked proprietary app, third-party app, or Rejjee, Inc. app claims must include the UAT before they can be processed. This can also help insurance companies reduce fraudulent claims, increase the accuracy of claims including verified item make / model / value, plus it can increase recovery rates of items acquired through the claims payment process.
P&C insurance companies can also add the Rejjee ‘below the deductible’ insurance coverage using RJC as a value-added to any home, condo, renters, or small business policy.
Global Risk insurance companies can require manufacturers, shippers, wholesalers, etc. to add UATs to items and shipments to reduce the risk of theft and to track stolen items for recovery.
International Law Enforcment
- Will run a Full Node
- Use RJC tokens to track UATs and associated identifying data
INCENTIVES FOR USE & MINING
Reduced online fencing and the crimes it funds: Law enforcement at the local, national and international level struggle daily with crimes funded by fencing of stolen goods online – some as small as cash for a stolen bike, to drug trades, human trafficking and even terrorism. (READ: The Threat of small-dollar Terrorism) The RejjeeChain will be the only platform capable of tracking lost/stolen goods anywhere in the world, and through RejjeeChain Analytics plus yet to be developed third-party law enforcement applications police will be able to engage in pro-active policing efforts and more rapid response to online crimes.
Rejjee App will be a decentralized mobile app used by customers to connect to Rejjee node and perform transactions over the chain. The App will use the Rejjee public API which be made available to the public so that third parties can develop their own applications.
Rejjee chain enables several actors in the eco-system to interact peer-to-peer and offer services at a level that was not possible ever.
Customer smart contracts
The Customer uses Rejjee App to post RJC token to report details of a Lost Item . The LostItem Smart contract post appropriate information to the chain. A Customer decides to announce Reward for Finders and pays in RJC tokens. The Smart contract will automatically transfer the tokens from an escrow account to finder’s account.
Vendor smart contracts
Rejjee App provides Wallet service to store all the UAT Asset Tokens owned by the user. Any Vendors including Manufacturers, Retailers would be able to invoke Smart contracts that will offer services to their customers. RJC tokens are used by the Vendors to transact any of these smart contracts.
Replacement Smart Contract
- Customer reports Stolen/Lost Item
- Insurer Smart contract receives the claim from the Rejjee chain
- Insurer resolves the claim and transfers RJC tokens as payment.
- Customer selects Replacement option invoking Replacement smart contract
- The Replacement Smart contract receives bids from multiple Vendors
- Customer selects one of the offers and pays using RJC tokens.
Recall Smart contract
- A laptop manufacturer needs to replace the batteries associated with a batch.
- A smart contract can identify right owners of the laptops belonging to the batch and offer replacement battery coupon and right owners of the product will get a signed offer to replace battery.
- The Rejjee App enables these owners to unlock the offer and claim new battery without the need for middlemen.
All these interactions need RJC tokens for transaction.
RejjeeChain to prevent online market for stolen/lost goods
When a seller tries to sell an item already registered as Lost item in RejjeeChain, the Purchaser or online site can verify Rejjee chain if this reported as Lost/Stolen.
The RejjeeChain Core will be made publicly available with an open-source license and will go through multiple security audits on every update.
The architecture of the RejjeeChain Core:
UAT Token: Asset Token
RJC Token: the ERC20 token used to trade ownership;
RJCManufacturerChain: Sidechain for Manufacturers
RJCInsurerChain: Side Chain for Insurers
RJCUserRegistry: handles information about end users and their ownership;
RJCExchange: Exchange to facilitate bids/offers from multiple parties including, but not limited to Manufacturers, Insurers and even Owners to trade for new assets or existing assets or other services such as payment processes; once offer has been accepted, the actual transfer of asset tokens to the owners will be completed in RejjeeChain using RJC tokens.
* * * * * * * * * * * * * * * * * * * * * * * ** * * * * * * * * * * ** * * * * * * * * * * ** * * * * * * * * * * ** * * * * * * * * * * *
Token use within the Rejjee ecosystem
As per above, there are two classes of Rejjee tokens – Universal Asset Tokens (UAT) used to establish ownership, and RejjeeCoin (RJC) used to securely transfer ownership or custody internally on the RejjeeChian.
For example, a manufacturer may create a UAT for a specific item of value with unique identifying properties such as make, model, serial number, etc. That manufacturer may then transfer ownership/custody to a shipper using RJC integrated with the RejjeeChian via an enterprise application, who in turn transfers ownership/custody to a retailer again using RJC , who in turn transfers ownership/custody to a consumer using RJC integrated with a mobile app tied to an online shopping cart, and the consumer can in turn transfer that original UAT to another consumer using RJC in parallel with cash or other currency on a used-goods web site. In each case, RJC is used only to facilitate transfer of of the UAT on the RejjeeChain; RJC is not in and of itself a currency used to establish the value of the item or for the purposes of buying or selling, RJC is only used to transfer ownership of the UAT.
Any UAT holder may ‘retire’ a token at any time. Once the UAT has been retired the information about that token is frozen and can not be traded anytime in the future. Should the item re-appear and a new owner attempt to register it and establish a new UAT, if it can be determined that the new item is in fact the retired item using make, model, serial number, etc. the new UAT will be denied.
UATs can be assigned to an individual item if it possesses in the opinion of the original owner sufficient unique information to track and/or verify the item – for example make, model, serial number, etc. UATs can also be assigned to items packed in bulk where individual items may not have sufficient unique identifying information but the bulk package may have unique identifiers such as QR Code, RFID, or bar code. In the event a bulk shipment of items that can be each be identified with a unique UAT the owner/seller may create one UAT for the bulk package and separate UAT for each item (for example 51 UATs for a box of 50 laptops, vs 1 UAT for a box of sneakers).
A current UAT holder may file a report for loss/theft. At that time the UAT will be frozen and only the current token holder may un-freeze or transfer ownership to a new entity (such as an insurance company) using RJC on the RejjeeChain. The incident will be posted on the RejjeeChain with certain information – such as last name, contact information, etc. – redacted for reasons of personal privacy (similar to the current alpha Rejjee Lost & Found). Prior to the report and regardless of how many times the UAT is transferred, information about the item/token shall remain confidential to protect the security and privacy of the items and the owners. ONLY after the UAT holder files a lost/stolen goods report will the limited information become public through the RejjeeChain.
Immediate and clear cost/benefit of using Rejjee tokens by users will increase use and data liquidity on the blockchain, increasing the value of coins and attract third-party developers to build new applications expanding the ecosystem. Proprietary company research has shown that people who suffer a lost/stolen consumer product will not file an insurance claim if the value of the item is up to 5X the deductible for their home, condo, or renters insurance policy for fear of increased premiums, loss of coverage or just the hassle of filing a claim. For these people, the ‘perceived deductible’ can be as high as $7,000 – $10,000. And for billions more people in developing economies traditional insurance is beyond their financial reach. In both cases, the use of RejjeeCoin hold immediate and significant cost/benefit if the user wants to either report a lost/stolen item in the hopes of recovering, or to receive discount replacement offers that mitigate the financial impact of the losses. Using a fraction of a RejjeeCoin (target ICO Price $1.00) to report the loss of a $50 or $500 or even $2,500 bicycle (or any valuable) that falls below the deductible or is un-insured is an easy economic decision for target consumers.
A retailer in Los Angeles inspecting a carton full of sneakers being presented under a particular brand name may demand the seller prove ownership and provenance through a secure mobile or web app accessing the RejjeeChain. Once the seller presents the UAT it can be transferred to the retailer using RJC upon mutually agreed cash/currency or other exchange terms. The retailer then becomes the UAT holder and owner/custodian of the box of sneakers.
A consumer in London holding a UAT for a laptop may wish to file a lost/stolen goods report through a secure mobile or web app posting the incident for public access on the RejjeeChain. The moment the report is posted the UAT is frozen and the information about the item including serial number, make, model, etc. is also immediately frozen. If later the person who stole the laptop attempts to post it for sale anywhere online, a) legitimate re-sale host sites may require the UAT to prove the sellers right to transfer ownership; b) if the seller cannot produce the UAT (in the event it does not yet exist) but rather enters serial number, make, model, etc. as required by the host site that information will be validated on the RejjeeChain through open an API linking the host site to the RejjeeChain(pending); if the host site does not participate in the RejjeeChain API verification process, any buyer may access the RejjeeChain directly and search for the UAT or other unique identifying information to verify ownership by the seller. At any point, if a seller attempts to present an item for sale that cannot be validated either through a UAT or other identifying data the host site and/or the original UAT holder will be immediately notified (similar to how LinkedIn notifies users when another user views their profile page).
A consumer in Mexico City may claim a previously purchased item using a mobile app linked to the RejjeeChain. If the item has an existing UAT or make, model, serial number etc. can be established as owned by another entity the new UAT request is denied. If no such verification can be made the UAT is issued and the consumer becomes the start of the ownership provenance chain.
A Tokyo-based insurance company may, as part of the terms and conditions of filing a claim, require transfer of a UAT for any item(s) claimed by an insured as demonstration of legitimate ownership, with RJC used to make the transfer. Once ownership of the UAT has passed to the insurer they may maintain the freeze on the UAT – including the associated unique identifying data about that item – thereby preventing any other person from posting it for sale on a site linked to RejjeeChain either through automated APIs or buyer search/verification tool.
A New York-based salesman may create a new UAT through a mobile app to document ownership of his luggage for a trip to Chicago. Upon arrival at O’Hare Airport if his luggage is lost by the airline the traveler can report it on the RejjeeChain App freezing the UAT and using the report to help the airline track his lost luggage.
A recent college graduate in London could purchase UATs for all of her valuables, protecting them from re-sale online, allowing her to increase her renter’s insurance deductible and reduce monthly premiums, at minimal additional cost.
A law enforcement agency could use a RejjeeChain linked app to track theft rates by UAT, by location, etc. to work more closely with category specific manufacturers to improve their security or local law enforcement for pro-active policing.
Why will the Rejjee blockchain succeed?
1) Demonstrated market traction & results
Rejjee’s MVP has already proven user/market adoption, platform results, and monetization. It is led by international technology experts and business leaders who have created multiple large-scale successful businesses. Once fully operational the plan calls for development of multiple additional applications based on existing proprietary market research.
- 5000+ users within 18 months
- $10 Customer Acquisition Cost (CAC)
- 300-500K reports per year via Rejjee and OpenAPIs with other platforms
- ~10% penetration of the target market in the launch region of Boston
- Official bike registry of MassBike, MassCommute, NY Bike Coalition, & Florida Bike Assoc.
- Official bike registry USA Cycling with 50,000 active members
- Nation-wide sponsorship of the American Heart Association’s ‘Life is Why’ campaign
- Recovering lost/stolen property at 10X the US national average
- 9-15% Click Thru Ratio on mobile product replacement advertisements (sustained over 2 years)
- Official bike registry of the MBTA Transit Police
- Close working relationship with Police from Boston, Cambridge, and Quincy
- 300+ US police registered for secure access
- 1,000 + Rejjee ‘smart’ security stickers sold on Amazon; ability to integrate proprietary or third-party GPS trackers and/or ‘find it’ devices
- RejjeeCoin will be sold in-app and through the Rejjee Wallet
- Enterprise licensing of aggregate, de-identified data will be sold
- Replacement product advertising click thrus will be sold for US$5 – $25 depending on category or location
- Multiple pilots pending with top 20 P&C insurance providers for revolutionary new, no cost ‘below the deductible’ insurance alternative reducing claims for insurers while delivering great a great customer service solution where providers cannot operate thereby reducing the likelihood of churn
- Integration with state Registry of Motor Vehicles for registering other types of transportation including bikes & scooters (pilot pending 2018)
2. Multiple immediate business applications
Any supply chain application’s success hinges on data liquidity, in this case the use of UATs and RJCs to increase value of both tokens. While the blockchain will be open access there are multiple business applications that can deliver immediate value for companies and consumers that can be developed by Rejjee or third-parties – from manufacturers tracking shipments to reduce fakes, to insurance companies top reduce fraud, to consumers to for protecting their valuables.
One such application that will launch in parallel with the RejjeeChain is direct integration with the patented Rejjee Replacement Commerce engine. The Rejjee alpha, delivering discount replacement ads to users reporting loss/theft, has proven to be the most effective ad serving platform on the mobile web creating an unparalleled brand loyalty program for manufacturers & retailers. By adding Rejjee UAT at the factory or point-of-sale, if a user reports the item lost on Rejjee, that customer receives a JIT discount replacement offer for the exact make/model (or newer?) from the same manufacturer or store. It gives manufacturers & retailers financial incentives that far out weigh any costs associated with use of the RejjeeChain, as well as less-tangible but still highly valued brand loyalty benefits.
Rejjee Token Creation (both UAT and RJC) will commence on May 1, 2018. UATs will allow owners/sellers to verify provenance, RJCs will be used to swap UATs based on mutually agreeable terms.
- An unlimited supply of UATs will be made available at no cost.
- 50,000,000 RJCs will be offered at the ICO.
Pre-ICO sale of 8,350,000 RejjeeCoin (RJC) tokens at 40% discount. USD, Bitcoin, or Ethereum accepted.
HOW MUCH ARE RJC TOKENS WORTH? The price of an RJC token will be fixed on the first day of the pre-sale based on the Ethereum (ETH) equivalent of $1 USD as listed on the exchange with the largest volume in USD/ETH on that day.
WHEN IS THE TOKEN PRE-SALE? The token pre-sale will begin on November 15, 2017 at 19:00:00 EST and will end on December, 31 2017 at 19:00:00 EST.
WILL THERE BE DISCOUNTS ON RJC TOKENS? Pre-sale of RejjeeCoin RJC Tokens will be offered during this Pre-Sale at forty percent (40%) of the target Initial Coin Offering (ICO) price point of US$1.00
WHEN WILL THE COMPANY BE ALLOWED TO DEDUCT FUNDS? To accelerate development and meet the blockchain target launch date of May 1, 2018, the company will follow a standard ‘rolling close’ model; once a minimum of $500,000 is raised funds will be transferred to the company Silicon Valley Bank account and used to continue with software development, operations, and user adoption based on the spending percent’s outlined below.
WHAT HAPPENS IF THE MINIMUM FUNDRAISING GOAL IS NOT REACHED? If we have raised less than $500,000 USD by the end of the pre-sale we will refund all tokens raised (no interest or other fees will be included in any refund). In the event that we have raised more than $500,000 USD but less than $1,000,000 USD, we may choose to extend the duration of the pre-sale to meet the minimum funding goal of $1,000,000.
IS THERE A LIMIT ON BUYING TOKENS DURING THE TOKEN SALE? No. There is no limit on the amount of tokens that can be bought per person during the pre-sale.
WHAT CURRENCIES CAN BE USED TO PRE-BUY REJJEE TOKENS (RJC)? RJC tokens can be pre-purchased using USD, bitcoin, or Ethereum.
WHAT IS THE FUNDRAISING GOAL OF THE PRE-SALE? There is a cap of 50,000,000 RJC tokens available during the pre-sale to reach a funding goal of $5,010,000 USD.
IS THERE A CAP ON THE AVAILABLE TOKENS? There will be a fixed supply of 50,000,000 RJC tokens that will be created. Tokens cannot be mined after the ICO token sale.
IS THERE A PURCHASE & SALE AGREEMENT? Yes, all pre-sale token buyers will receive a signed copy of the Rejjee Simple Agreement for Tokens (SAFT) detailing your rights and obligations.
DO I NEED TO BE AN ACCREDITED INVESTOR? If you live in the United States, yes. Please see the Notice to Investors below. If you live outside the USA we will be using a Simple Agreement for Future Tokens (SAFT)
WHAT CAN YOU DO WITH RJC TOKENS? RejjeeCoin Tokens (RJC) can be used to transfer ownership/custody or sell Rejjee Universal Asset Tokens (UAT) on the Rejjee blockchain to ensure legitimate transfer of ownership/custody of an item of value. Multiple applications will be developed streamlining the process of trading RJC targeting various segments of the supply chain from manufacturer to retailers to online re-seller. Please refer to the RejjeeChain White Paper for further details on token use and applications.
ARE THERE ANY REFUNDS IF SOMETHING GOES WRONG WITH MY TRANSACTION? There will be no refunds provided in situations including, but not limited to: • Paying the wrong wallet address • Being scammed by a third-party • Not using the correct platform • Losing your wallet information
WHERE CAN I BUY REJJEE TOKENS? Please CONTACT US to receive a copy of the SAFT and instructions for wiring USD or transferring Bitcoin or Ethereum into the Rejjee Wallet.
Use of Funds
ADMIN & OVERHEAD
(Incl. Legal & Compliance)
CUSTOMER ADOPTION & USE
OPERATIONS & USER SUPPORT
TEAM, PRIOR INVESTORS & ADVISORS
(Share of annual earnings funding third-party application development for the RejjeeChain)
MVP / Local Market Trial
2015 – 2017
Pre-ICO Token Sale (40% discount)
Q 3& 4 2017
SAFT or Accredited Investor status may be required.
Blockchain Conversion & Testing
Q 1 & 2 2018
Target launch date 5/1/18
Initial Coin Offering (ICO)
Q 3 & 4 2018
NOTICE for investors
INITIAL COIN OFFERINGS ARE UN-REGULATED HIGH RISK INVESTMENTS. INVESTORS SHOULD BE PREPARED TO LOSE 100% OF THEIR INVESTMENT INCLUDING PRINCIPLE.
The following Investor Alerts have been issued by the Securities and Exchange Commission, the UK Financial Conduct Authority, and other agencies (note additional Alerts & Bulletins may be posted since the publication of this page).
- SEC Investor Bulletin: Initial Coin Offerings – 7/25/17
- SEC Investor Bulletin: Initial Coin Offerings – 7/25/17
- SEC to regulate Bitcoin and Friends – 8/17/2017 Seeking Alpha
- UK FCA Discussion Paper on distributed ledger technology – 5/2017
- SEC Investor Bulletin: Public Companies Making ICO-Related Claims
- SEC Press Release: SEC Announces Enforcement Initiatives to Combat Cyber-Based Threats and Protect Retail Investors
- UK FCA: Consumer warning about the risks of Initial Coin Offerings (‘ICOs’)
- Canadian Securities Administration: CSA Staff Notice 46-307 Cryptocurrency Offerings
- Monetary Authority of Singapore: Consumer Advisory on Investment Schemes Involving Digital Tokens (Including Virtual Currencies)
- SEC Investing in an Initial Public Offering (IPO)
All investments in any startup company are high risk – purchasers of Rejjee UATs or RejjeeCoin should be prepared to lose 100% of their investment including principle.
Past performance is no guarantee of future results.
Rejjee is a startup company incorporated as a Delaware C Corp. It has been successfully operating for more than three years, often in partnership with local and state law enforcement. This mission of the RejjeeChain is to disrupt the online supply chain for lost/stolen/fake goods as a service to consumers world-wide. Our advisory board includes one of the leading experts in cryptocurrency crime. All data points and results herein can be easily verified. All members of the team are real people with LinkedIn profile links provided. This token offering is designed to provide Rejjee with the funds needed to expand its reach and revenue capture capabilities, not create a launch a new idea.
Rejjee will be offering its coin only to SEC Accredited Investors. US-based investors will be required to prove status in accordance with Regulation D.
The Rejjee Team
Cybercrime hound, lost property tracker, hydrant lover, expert tennis ball retriever
The Rejjee Network
Successful businesses are built through a network of companies working on a single vision/mission. The Rejjee mission is to disrupt the global online black market for stolen goods that is funding local crimes affecting every community in the world. We are proud to work with the following organizations:
Neobric is a software development firm based in Hyderabad, India. The firm is under contract to develop the initial applications that will run on the Rejjee blockchain. Clients have includes BNY Mellon Bank, BP, Kellogg, GE, Fair Factories Clearinghouse, and CBS Interactive. Website.
Through the existing BizSpark Partnership (article), the Microsoft global blockchain development team will participate in the development of the Rejjee blockchain, as well as hosting of public blockchain nodes on the Azure Cloud. Microsoft’s Blockchain as a Service (BaaS) provides a rapid, low-cost, low-risk, and fail-fast platform for organizations to collaborate together by experimenting with new business processes—backed by a cloud platform with the largest compliance portfolio in the industry. As a Microsoft BizSpark PLUS partner this project has received donated Azure hosting for public nodes and the MS Blockchain development team will be working with the Rejjee team to complete and optimize the launch process. Website.
Blocktrust has been engaged to lead the development of the Rejjee blockchain platform. They have prior experience working with Neobric on application development. Evolving beyond the Bitcoin use case from which it originated, Blocktrust is looking to solve global & distributed information problems at global scale. Website.
Silicon Valley Bank
Silicon Valley Bank is the preeminent financial institution for the tech industry. Rejjee has been a client of SVB for more than three years and continues to receive expert counsel regarding corporate finance and related matters. Website.
Burns & Levinson
Burns & Levinson is a premier Boston-based law firm specializing in business law, intellectual property, securities, private equity, and venture capital. Website.
Bigelow & Company
Bigelow & Company is a recognized accounting firm in Manchester, NH. The firm has been handling Rejjee’s books and annual tax filings for the past three years. Website.
London & Partners
London & Partners is the City of London’s business development agency, tasked with attracting new businesses and innovators to the nation’s capital city. Rejjee has been working with L&P on a plan to establish a UK office in London. Website.
The Hague Security Delta
The Hague Security Delta (HSD) is the leading security cluster in Europe. In this Dutch cluster –with important regional hubs in The Hague, Twente, and Brabant– businesses, governments, and knowledge institutions work together on innovations and knowledge in the field of cyber security, national and urban security, protection of critical infrastructure, and forensics. They share a common goal: more business activity, more jobs and a secure world. Rejjee has been working with the Innovation Quarter to establish a presence there. Website.