XYO Network – Reinventing location verification

idhasitha (38)in #bitcoin • 6 years ago

Introduction

There’s never been anything quite like this. A new era where humans and machines codify their relationship with one another to leverage each property of their natural strengths and reshape every detail of their world. Where we go from city development to self-developing cities, from package delivery to autonomous drones, from ride sharing to self-driving, from contracts signed with ink to those executed with cryptography, from mapping the world to the world mapping us. We are entering a new era. Land was the raw material of the agricultural age, iron was the raw material of the industrial age, and data was the raw material of the internet age and now we have blockchain- the raw material of the decentralized age. Yet, this time around things are different. World leaders are taking notice. Everyone has a say, the decentralized age is a bad time to be a control freak.

At XYO blockchain is brought to the real world by combining the realm of location data with the power of blockchain, so we’ll always know what happened, where it happened and why it happened, making our lives safer and smarter, giving us more time for what we love and less time for what we don’t. The technology we are building today will power the world of tomorrow and though the future is unknown one thing is crystal clear, it’s only just begun.

The XYO network stands for XY Oracle network. Each and every day location data is used around the world. Tons of speculations exist about the blockchain technology and how it will transform the web and how the world’s population will consequently react to it. Clearly, there are presently less realistic examples of how this will in fact happen and bring about the huge change it is expected to.

The world as a whole is becoming progressively dependent on the accuracy and security that location facilities have to offer. Self-driving vehicles or autonomous cars for example, package-delivering drones and smart cities will certainly show an increased reliance upon trustless location data. The acceptance and implementing of these technologies for the future depends on their ability to trust location services they obtain from an external source.

The present day location technologies lack the necessary requirements and security properties required to travel us into the future. XYO has already mastered a system of components and crypto-location protocols, which harnesses the strong points of blockchain technologies, and give solutions for the flaws of location technologies that each and every one of us rely upon today. This project is called the "XY Oracle Network" (XYO Network). The XYO Network allows trustless connections over a system of crypto-location components that can bond the gap from the present day world, to the world of tomorrow.

How the XYO network works.

All those modern day blockchain technologies, cryptocurrency and tokens merely are financial tools essential for a platform’s economy, but their focus is solely on online applications rather than focusing on real world applications.

For the reason that, the XYO Network has advanced location-based technologies that bridges the digital world to its counterpart the physical world. Achieving this however is no easy task so XYO has produced a location-based consumer product industry which simply leverages and harnesses the power of Bluetooth and GPS tracking beacons around the world.

Along the way, XYO has run several different deep researches related to location-focused blockchain technology, which has allowed it to enlarge its influence in the offline world. The XYO system’s open world design for DApp development means that it is not only based on Ethereum but it supports all blockchain platforms that have Smart Contracts execution.

Vision

XYO Network has a sophisticated technological groundwork that allows Smart Contracts to enter the actual world to conclude an object’s exact XY-coordinate and then allow users to employ applications that perform transactions using Smart Contracts.

Present day usage cases of the XYO Network span across a wide range of industries such as commercial airline luggage and logistics, e-commerce, national security agencies, medical care and hospitals, rental car agencies, insurance agencies, drone and package delivery systems and autonomous car systems which is intended to be a game changer in the coming future.

The company currently has one million plus global devices that feed the system with location data. A large breadth of professional in fields include blockchain and innovative developers backs XYO’s vision for the future’s location services.

What does the future hold for XYO?

Founded in 2010, the XYO Network has established location protocols necessary to build this decentralized location network they dream of. The company's sophisticated technology means that Smart Contracts can enter the actual world by using its ecosystem to pin point exactly whether and something is at a specific XY coordinate at a given time.

The company ventures on to say that this open world arrangement is now ready to build the world's first and only decentralized location-verification system for all the blockchain platforms that is based on Smart Contract rules bridging the digital world to the physical world.

It is obviously questionable whether these two worlds are ready to meet each other. Blockchain promises something fantastic inside an online world, but the real world is sure to be a much bigger challenge. Blockchain and Location is an aromatic mix. What the XYO network now needs to do is to deliver and scale. It will be exciting to see how rapidly this happens and that is only something time will tell.