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What is Lox Network?
Lox Network is the world's first blockchain mobile security network and brings a revolutionary proof-of-ownership use case to NFTs. The network, powered by the decentralized XRP Ledger for its speed, reliability, and cost-effectiveness.
Lox Network uses a three-token ecosystem consisting of LOX, SmartLOX, and SmartNFT, all relying on each other to prove you own a specific mobile phone in case it's lost, stolen, or you need to show a buyer proof of ownership before selling it. SmartNFT is an NFT representation of the user and records this data to the XRP ledger. SmartLOX is an NFT representation of a mobile device that includes the make, model, and the IMEI, also recording this data to the XRP ledger. LOX is the front-end system powering the Lox Network mobile app. Lox Network bridges these two unique NFTs by pairing them together to demonstrate the owner of the two unique NFTs is the rightful owner of the device using irrefutable, publicly verified evidence pulled from the decentralized XRP ledger.
Lox Network can be used by anyone from a school student needing the phone to stay in touch with teachers and fellow students to large corporate logistics departments needing to audit and validate their mobile phone inventories. The Lox Network API can also integrate with cell service providers, insurance companies, and manufacturers alike.
Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.
