We have seen many projects been built on the blockchain, as blockchain go main stream. Many sectors of the economy have found the use case for blockchain and they are building decentralized application to address the challenges been faced in their various sector.
So far NO SOLUTION have addressed the real world use of blockchain. THE LOCATION DATA.
Challenges Of Today's Location Data
Inaccurate Source of location : This have hindered the development of real world location application on the blockchain, blockchain as we know is a transparent and trust-less network, currently there is no way to collect authentic location which could be use for building a solid application on the blockchain. The most trusted source of location data currently is the use of GPS which is very costly and can be easily manipulated. It is easier for people to manipulate location data.
There Is No Transparency In Location Data collection: Most of the location we use today there is no transparency as to how and where it is gotten from making it not trustworthy for business decision making and other related decisions
There Is No Clarity On The sources Of Location Data: With the rise in many fake location manipulation application, example which can be found on the app stores, there is no clarity on the source of location data which makes the location data non verifiable. How can you clarify or verify if a device location is reported to be in the US?
Solution For The Modern day Location Data
XYO Network presents the solution for modern day location data. XYO ushers in Blockchain into the real world.
Concept Of XYO Network
XYO Network is a consensus-based network of interconnected devices that records, stores, and verifies real-world based location data on a blockchain which makes the location data trust-less and secure for accurate decision making
XYO is blockchain network that will enable smart contracts to interact with the real world as if it were an API.
What this means is that XYO want location data to trigger a smart contract by allowing people to build a location based application on their network. Let's say a smart contract triggers when point A get to point B.
How Can XYO Achieve Such Fate?
XYO is a Network of interconnected devices which will provide location data needed for the smart contract execution. Therefore XYO already have established location-verifying beacons totaling over a million in number and hundreds of thousands to be activated. XY Findable the company behind the XYO Network have spend over five years working on this project to make it a success
Opportunity In XYO
XYO Network have opened a whole lot opportunity for business and developers to actually build a real world application, With the API like feature of the network, it means any one can integrate and build a smart contract application that will make use of location data as a variable to trigger the smart contract.
The XYO Network can be integrate with smart contract blockchains like Ethereum, EOS, omisego, NEO, LISK and others, with support for future blockchain platforms.
The XYO Network use case can include but not limited to eCommerce, Medical Care and Hospitals, Rental Car Agencies, Commercial Airline Luggage Logistics, Insurance Agencies, National Security (TSA) Agencies, Drone Package Delivery Systems.
What more can I say, XYO Network have open up a new world of possibility where developer can build things beyond imagination and I really can't wait to see what thing would be built on XYO Network.
To Learn More About Visit XYO Official Contacts
Website: https://xyo.network
whitepaper: https://xyo.network/whitepaper
Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=3040825.0
Telegram: https://t.me/xyonetwork
Twitter: https://twitter.com/XYOracleNetwork
Facebook: https://www.facebook.com/xyonetwork
YouTube: https://www.youtube.com/channel/UCyZDqb9pgntVHJVt1pxXtsw
well explained. Nice definition
Thanks dear.
XYO is really a real deal. I just check and they seems to have ended their token sale. I will look to get them on exchanges. Thanks for your review.
The last time i checked their ICO is in the last stage. you could invest if you have done your proper research. Thank you.
Looks an interesting project. Will keep an eye on this one and do some more research. Many thanks for the links to XYO resources, keep up the good work.
Another nice post @chokomenia, well explained