MyTrackNet | The Ultimate Lost and Found

According to an article in Psychology Today by Susan Krauss Whitbourne, Ph.D., studies show that in order for us to memorize things we must first encode them in our brains by being conscious of our actions at the moment. The problem is that most of us mindlessly go about our day’s activities, often engrossed with several concerns at once. To a certain extent we all dissociate, and so the part of our brain carrying out routine activities doesn’t connect with the part of our brain responsible for conscious thought. This results in us forgetting and losing things.

In order to compensate for the what our brain cannot achieve, tracking and tracing technologies seem to be a good solution. In fact, tracking of pedestrians, vehicles or any kind of object have been an expanding business in the last decades and now, the concept is making its way into the cryptocurrency world.

MyTrackNet intends to create a network that will help people find lost items, pets or even people! In order to achieve this, MyTrackNet wants to unite large numbers of people around the world and provide a wide geographical coverage to find said lost valuables. MyTrackNet will function as a lost & found platform that will provide a feature to track any lost valuable by Bluetooth, using crowd GPS technology to reconstruct and visualize the path of a moving device.

Anyone is able to join regardless of the tracker device they own and even those who don’t own a Bluetooth tracker can contribute to the network in density and coverage. This way, the more people participate in the network, the easier it will be to find a lost valuable that has Bluetooth tracker.

MyTrackNet is expecting to get a considerable number of users in short term. The whitepaper reads:

“Statistics have shown that for a gaming app for every user you acquire, you can expect 2 successful referrals. MyTrackNet is an app that will help the tracker users, and allow them to see a dense network of other users ready to assist them to track their items. Also, MyTrackNet will reward the users who run the app in the background whether or not they’ve found something or if they have a Bluetooth tracker. Taking those facts into consideration, we can talk about a successful referral number multiple of 2. However, in order to make a non-optimistic calculation we can adjust the referral number to 3 and do the maths to calculate how many users will join our platform short term, only from the Bluetooth tracking community user pool: referrals (5m X 3) + 5m tracker users = 20 million users”

As previously mentioned, MyTrackNet will have a crowdgps functionality able to connect to any Bluetooth tracker in the market. In order to make this possible, a digital identity will be given to the objects, enabling any network member nearby to be notified about the item’s last known location and start looking for it, making them instantly discoverable.

For the network members who lost an item that does not have a Bluetooth tracker, the procedure is to register a manual entry in the network referring to the last known location, a description, and a photo. If it’s a valuable item user have the possibility provide a bounty for it so, attracting others attention easily.

MyTrackNet Reward System

MyTrackerNet will have a unique Reward System leveraging the blockchain technology to automatically reward the network users in three different ways:

1) Users who assist in the retrieval of an item, pet or any other loss valuable.
2) Users who are just running the application in the background, allowing strengthening the network by coverage distances.
3) By searching actively for lost items that have bounties associated with them. Users can earn a reward for retrieving an item or for locating it.

These bounties, as well as the built-in reward system, will be using TrackNetToken (MTN), a Waves-based token that can be freely exchanged on the Waves decentralized exchange (DEX). MyTrackNet will also provide this option within the application, allowing MTN to be exchanged for any cryptocurrency like Bitcoin, Ethereum, Waves or also for Waves-based fiat currency tokens like USD, Euro, Yen etc.