XYO Network is Making a Location Oracle

sunnysideupfang (55)in #bitcoin • 6 years ago (edited)

I noticed Steemit likes ICOs a lot so from now on I’ll mix in some ICO posts with my usual crypto news posts.

Earlier today, I came across an ICO by XYO Network. I think the project is very promising as the company is building a location oracle. After doing some research, I learned that XYO Network is being made by the founders of a company called XY – The Findables Company. XY is a company that sells location trackers and they have already sold more than 1 million of them. XYO Network is going to put those trackers to a new use. XYO Network is building something called a Sentinel Network. This Network lets people like you and I become sentinels who provide location data to the XYO Network. For our service to the Network, we will be paid in XYO tokens.

The good thing is that anyone can join the Network but it can take some time for people to catch on. But the XY Company already has so many GPS and Bluetooth beacons out there so XYO Network can have readily available location network up and running as soon as the system launches. The company’s goal is to allow developers to be able to treat location like an API. This means that any process that is location sensitive now does not need to have manual location updates since smart contracts could make it possible to update location from an oracle with real-time location data updates.

I think this technology is going to be an amazing development since location is important to many businesses. I can easily predict that being able to link real-time location updates to existing systems can be incredibly valuable for many companies. The XYO Network ICO is happening right now and anyone can purchase their tokens if they invest 0.5 ETH or more.