Maret 19, 2018

XYO - FIRST DECENTRALIZED CRYPTOGRAPHIC LOCATION NETWORK

Smart Contracts, like those used by Ethereum and other cryptocurrencies, will fundamentally change the way we interact and do business by streamlining processes, reducing risk, and cutting out middle men. One thing all Smart Contract platforms lack, however, is a definitive way of proving that something or someone was in a given location at a specific time. An authoritative, trustless, and decentralized proof of location oracle is essential for the idea of Smart Contracts to be adopted by the mainstream world.

The XYO Network will be the definitive location oracle because of two core concepts it introduced: Proof of Origin and Bound Witnesses. The concept of Bound Witnesses guarantees that two different components of the XYO Network were in the same location at the same time. Proof of Origin ensures that the information a component provides is valid and resistant to falsification. Detailed information on both of these concepts is available in the XYO Network white paper.

Providing authoritative proof of location has the potential to change the world. Here are just a few ways the XYO Network will disrupt existing industries.

The XYO Network incentivizes the reporting of locations and archiving of ledgers by awarding XYO Tokens to nodes within the web. For example, when a last-mile courier like a UPS driver encounters an XYO Network node on their route, the node will record their XYO Network ledger to be archived. Leveraging cryptoeconomics in this way takes advantage of a key feature of blockchain technology — it’s a trustless, decentralized system. This means it can offer third-party verification and a degree of reliability that current tracking systems simply can’t provide.

WELCOME TO THE FUTURE

“XYO Is The Newest Breakthrough in Blockchain Technology And Could Be Bigger Than Bitcoin and Ethereum Combined”

Every so often a new technology arrives that changes the way we live. When Thomas Edison invented the light bulb in the late 19th century, he lit up the world. And we haven’t lived the same since.

When the Wright brothers became the first to achieve flight at the turn of the last century, it changed how we traveled the globe. When the Internet became mainstream in the 90’s, the whole world became connected.

And now a new technology has arrived which will once again change the way we live… and shake institutions like banks and governments to their core while doing so.

If you thought Bitcoin and Ethereum have rocked the world, you need to brace yourself for what’s coming next.

This new breakthrough is set to be bigger than both of them combined. It’s going to change the lives of millions of people in every corner of the world and tap into the untouched markets, each worth more than a staggering $11 trillion per year.

Problem
According to a recent study released by Comcast, more than 30% of Americans have had a package stolen from their porch or doorstep [1]. As the market share of eCommerce continues to grow, this problem will only become more prevalent. Megasites like Amazon are experimenting with different solutions to offer confirmed secure delivery as a premium service to their customers.

Solution
By utilizing the XYO Network and XYO Tokens, companies can offer an independently confirmed ledger to track every step of a shipment’s progress, starting at the fulfillment center and ending with the package’s secure delivery within the customer’s home. As a trustless and decentralized system, the XYO Network provides independent confirmation not only of a package’s delivery, but of its entire shipping history. This also allows a retailer or eCommerce site to offer payment upon delivery, utilizing an Ethereum smart contract to protect the merchant from fraud or loss.

How it Works

XYO is creating a decentralised network of devices which will be used for tracking of the specific coordinates. The network of devices will allow anyone to track the exact location and offer their services. Smart Contract based services can be utilised on the platform to create a network of trustless and transparent devices, which offer accurate location data. Companies can target the customers based on the location of the user, and thereby deliver the services accurately without mismanagement. For Example, e-commerce companies can deliver the package to the premium customers utilising the XYO network under smart contract. Sentinel Network created by the platform is open for everyone. You can join the network of the device to earn the tokens and become the member of the platform. Sentinels (The Data gatherers), Bridges (The Data Relayers), Archivists (The Data Storers) and Diviners (The Answer Aggregators) are four primary components of the platform. They create a reliable chain of location data transfer on the platform thereby connecting millions of the users, who are part of the network.

Why Invest In XYO Network

I will list four key points I normally consider when making an invest choice when it comes to blockchain projects, blockchain projects gives you tokens in exchanges for your investment with hope that the tokens will grow in value over time so that you will benefit from your investment, therefore it is good to do your research when it comes to blockchain projects before investing in it. Here are the keys points I will consider, the product, the road, the team and token metrics

The Product

XYO Network already have a working product with the lunch of their Ground-Breaking GPS Tracking Device(XYGPS) which is capable of giving location report from any where around the world where cellular and GPS data is available and the release of their XY4+ device which makes it capable of operating as an XYO Network node and with over 1,000,000 Beacon Mark scattered across the world. this has got to show that XYO Network is no longer an idea on white paper.

Use cases of the XYO Network:

1.eCommerce
The use of XYP tokens and XYo network can be used for tracking the progress of the shipment in each step right from the fulfillment center to the doorstep of the customer.

2.Hospitals
Incorporation of the XYO Network into the operational frameworks of the hospitals can minimize the communication failures and errors in maintaining the records that cause injury and death of the patients.

3.Rental Car Agencies
XYO Network can minimize the number of lost keys.

4.Commercial Airline Luggage Logistics
The decentralized nature of XYO Networks can enable airlines to use each other's network without the coordination of system updates.

5.Insurance Agencies
XYO enables the insurance companies to recover the insured goods as well as assists them in the claiming process.This lets the company, as well as the customers, access a provable location history while initiating a claim.

6.National Security Agencies
Th use of XY's technology, its decentralization nature as well as its blockchain helps in creating a secure and publicly accountable system.

7.Drone Package Delivery Systems
Maintaining the drone Package Delivery Systems in the authorized flight path, collision prevention and informing about the package location at key points can be accomplished through the XYO Network's autonomous verified location data.

8.It has used in High-value Diamond & Rare Stones, Autonomous Self-driving Vehicles as well as Gaming.

ICO INFORMATION

The Exact dates for the XYO Token sale are not announced but the process of whitelisting is currently live on the platform. You can be the first to be notified by the company. 40% of the funds collected from the ICO will be utilised for the growth of the XYO network. The team believes in the future of the smart contract and the blockchain technology.

Token

XYO

PreICO Price

1 ETH = 200,000 XYO

Price

1 ETH = 100,000 XYO

Bounty

Available

Platform

Ethereum

Accepting

ETH

Country

USA

Whitelist/KYC

Whitelist

Conclusion

The choices and needs of human beings are supported with new inventions in the technology. A device to communicate, a device to locate or a device to be awake are all requirements of humanity, which are made possible with the help of technology. How do you think people remain calm and composed even during the events of crisis? They are able to manage the complex things with the help of it. Every technical device is designed to reduce effort. Utilising the smart contract-based services, companies are offering cost-effective solutions to the customers. Location of the user is a critical information which must be securely stored for delivering the services.

I believe that we are going to be the part of a decentralised network where the malicious threat to our location data is minimum. The platform has utilised the blockchain technology as its core philosophy, and if it becomes successful in the market then everyone will be benefitted. How people will react to the sharing of information about the location is a question of the future, but the important question is the kind of services offered by the platform.

Roadmap