Location Data Is Gold!
When it comes to location intelligence, it can genuinely reveal a great deal about who we indeed are. From store consumer observations, their areas of residence, how far they have to commute for work, marketers can gather invaluable insights into our preferences and interests.
Location data can come from a variety of mediums, like IP addresses, WiFi signals, beacon data and GPS systems. The average consumer interacts with location data devices on an average of 2617 times a day.
However, these sourcing mediums each face distinct challenges that ultimately influence the accuracy of the signals they provide, from physical barriers to interferences and other inherent technology limitation. Not to mention the fact that most location data providers are centralized organizations that are time and time again subjected to malicious attacks putting many lives in danger. With the disruption of the blockchain, however, these issues can become a thing of the past.
XYO Network could be the answer!
Coupling a widespread network of beacons and other location-based hardware with state of the art blockchain technology the XY Oracle network will usher in the new generation of location-based technology. By using concepts like Proof of Location and Proof of Origin, XY will create a network of tamper-proof data that can be used in many innovative ways. User and developers can access the data with a query system to the network via an API-like bridge that will source back the most trustworthy data packets.
Hospitality could change forever
It is well known that the hospitality industry relies heavily on the reviews they get. A direct correlation between the profitability and the curation system can be observed. Naturally, the business owners will pour large sums of money to influence these scores. Using a tamper-proof rating system with the help of XYO network, a trustless system could easily be implemented.
Thus the consumers' reviews could be backed by information like, the exact accommodation location, what services were used in a completely secure environment. The level of security on the blockchain platforms is paramount; hackers would require immense processing power means even to attempt such a feat.
To ensure sustainable growth of the ecosystem, XYO will have a specific utility token as well. Based on the simplified ERC20 architecture, developers will be able to embed the Smart Contracts feature in their Dapps. The queried location data from the XYO ecosystem will act as components in the Smart Contracts, thus when certain conditions are met the next step of the Smart Contract will be triggered.
In our case, when the consumer arrives or leaves a particular destination, the location data changes and the ecosystem will automatically trigger the next step in the consumer experience. As the blockchain and cryptocurrency industry matures with every iteration of developments, the exponential growth of such Dapps is inevitable. XYO network plans to attack the location-based data industry that by some studies has an estimated 11 trillion USD in value.
If you think any of this peaked your interest head over to https://xyo.network/ to find out more!
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thanks for sharing! great insights!
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