XYO Location Data is Shaping the World of Tomorrow
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The cryptocurrency world is moving fast and sooner or later, it will become part of our daily lives, as many major industries start to adopt its advantages. XY is an innovative project and an exciting platform that has the mission to decentralise all location-reliant trade markets. Since 2012, XY started to work towards their mission by creating a real-world network of GPS and Bluetooth beacons. Then, the company manage to create XY Find it, a consumer business that helps you to find your misplaced or stolen belongings. Now, the project aligned its efforts in creating the first trustless location data through cryptocurrency technology – XY Oracle Network. At the moment, XYO claims to have over 1 million devices providing location data around the world.
The Key Aspects of XYO Network
The XYO network is blockchain technology-based, and it operates through four primary elements within it to fulfil real-time location tracking. The components include Sentinels, Bridges, Archivists and Diviners.
Smart contracts – these will successfully identify and access real-world data, as well as determining x-y coordinates of any object in the world.
dApps – XYO believes that in order to reach the maximum potential, decentralized applications will need a fully decentralized and trustless system of oracles, which reassures that no one has complete power over the XYO network.
XYO Use Cases
Once registered, all location-based businesses will be able to make use of it to become more efficient and successful. For instance, XY can now help rental car agencies to cut down on the number of keys lost after developing a special pilot program for it. Moreover, it can improve the logistics of a delivery company and eCommerce giants to help track every shipment’s progress, reducing the risk of fraud. Some of the other current cases of XYO include various industries, hospitals, commercial airline luggage logistics, e-commerce, national security agencies, drone and package delivery systems. The examples could be infinite, and the potential is unlimited.
About the Team
The XYO company has a strong team, formed by mainly business developers, marketing experts and engineers with years of experience. Some of the members are listed below:
- Arie Trouw, founder & architect – developing software from the age of 10 years old
- Scott Schepper, co-founder and head of marketing
- Markus Levin, co-founder with 15 years of entrepreneurial experience
- William Long, head of hardware with over 25 years’ experience in engineering management and electrical engineering development.
XYO Token and Sale Details
The XYO token is the network’s utility token that developers can use to access the real world through smart contracts. The token sale is already live (as from 20th March 2018) until 20th of May 2018. Ethereum is the only accepted as the paying method on the platform (1 ETH – 1000,000 XYO). After each transaction, the price of XYO increases in order to reward early project backers.
You can find out more information about XYO Network by visiting the official:
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