XYO Network — BLOCKCHAIN ENTERED THE REAL WORLD?

The blockchain concept approved its practical value not only by a new and more convenient approach but also by its implement into habitual areas of life outside of the Internet. The automatized verification of compliance with the smart-contract terms substantially reduces both the time of purchasing the real estate or tenders for software development and also the costs of attracting intermediaries who must control the process. Time and money are almost always the main resources of both parties to the contract, so its effectiveness is on hand.

However, smart-contracts are associated with some problems such as an insufficient database in the network environment and absence of a convenient Oracle. They still impact on contracts in the sense of their success.

The problem of oracles connected with geolocation is relevant nowadays. The thing is, assets depositing and smart-contracts terms are possible almost only online on the most demanded blockchain platforms such as Ethereum and EOS for example. The reason is it causes many difficulties when transporting the information about, for example, the product location from real life to a blockchain. XY Company announced this problem and developed the solution.

The idea of XYO Network
The company is going to create the first geolocation blockchain oracle using Bluetooth and GPS Network. Apart from the integration of already used GPS- and Bluetooth-switches, XY adds the tracking devices XY4+ to its network. Thus, according to developers’ announcements nowadays a common number of working beacons are more than a million all over the world. The ways of usage offered by developers are:

· E-commerce. For example, a customer orders goods in the online shop. A representative of the shop draws up a smart contract on the Ethereum platform. All crucial points from mailing and customs control to receiving a parcel by a courier. The customer and the seller could check the information about the parcel location by set geotags online. In consequence, a chance of being a victim of shop’s fraud or an occasional error during the way (customs control, delivery service, post office, etc) reduces and the process may be controlled by both parties to the trade. This innovation simplifies the logistics for the seller and lets the customer do payments without intermediaries’ services. Well, transactions take place only when all the smart-contract terms comply.

· Medicine. According to the statistics in the USA, every third case of death is a consequence of medical error, that could be avoided. Most of these people die because of an improper use of medicines or a surgical intervention. A famous American surgeon, Dr. Martin Makary, was looking for such new technologies, which would be able to reduce the number of “harmful and unreasonable actions in medical treatment”, what he wrote in his letter to Centers for Disease Control and Prevention. The XYO Network implementation in Software already existing in hospitals can substantially reduce the number of errors in staff communication and the maintenance of documentation which usually cause patients’ injuries and deaths. The blockchain allows creating decentralized databases of patients’ medical histories what will simplify and improve the medical establishments’ work.

· The logistics of baggage transporting. According to the SITA data in 2016 air companies lost 2.1 billion because of the lost baggage. Despite the constant improvement of air carriage systems, every year millions of passengers lose their things. A lot of air companies have already implemented services for tracking, but there are few changes. XYO Network, the decentralized system of baggage tracking, allows airlines to use the structural networks of each other independently and securely for an exact tracking. It means that even if your suitcase arrived in St. Petersburg, but you stayed in Rostov, both the passenger and the company could track it what reduces the risk of permanent loss. Such an approach is possible only with GPS tracking systems, which might be attached to the bag.

· Insurance organizations. The insurance of property allows to compensate the loss in the case of theft, but nobody can guarantee restitution. Otherwise, it’s difficult to induce companies to pay disbursement. The integration of the beacons with GPS geotags let determine a current position of the thing and find it.

There are lots of other examples of its application in real life; they are being developed by XYO Network’s team and constantly being implemented into different business spheres.

The XY Company direction:
According to the project representatives announcements, the team believes in the future potential of blockchain technologies and desire to create instruments for a broad application. Sales was opened 20 March 2018 on the Ethereum platform and will last until 21 May. The starting price of tokens was 100 000 to 1 ETH, and the maximal price is 33,333 to 1 ETH. Type — ERC20. A number of tokens are not limited. The supposed distribution is the following:

15% — XY Oracle Network support;
35% — research and development; design
5% — cost;
5% — the important blockchain projects support;
40% — expansion of the network and partnership.

XY team
On the project official website, there is an extensive information about the main participants o the team such as their skills and experience, achievements and characteristics. The founder of the company, Arie Trouw, has a great experience in IT what is especially worth mentioning. According to ICOBench data XY Company founded in 2012 is the fifth Trouw’s startup. His previous project Sambreel had a turnover of $65 million in 2015 when was sold while the investment had been only $350 thousands in 2008. Trouw was keen on computers at the age of 13, learned programming on the TRS-80 and Atari-800.

Plans for the future
By 2017 the developers have given the information about the development of innovative GPS transceivers such as XYGPS and XY4+ served as the beacons for the blockchain-geolocation. That year there were more than a million of registered beacons all over the world. In 2018 the authors are planning to initiate XY Oracle Network which is a crucial point in the project work. In 2019 they are going to initiate a blockchain system, which will be a full-fledged partner for other blockchain projects in the market.

A brief summary
What can a potential investor find in XYO Network? It’s a revolutionary blockchain project which is able to change the established branches of business and improve them fundamentally. The project is developed by the team of highly experienced and enthusiastic professionals, realizing the value of their work. They always see their goals and do what they are to do to achieve them.

You can read more about the project on the official website. There is a technical information described in simple words.

Has the ICO XYO Network a chance to succeed? Probably lots of. Well, we will see it 21 May 2018.

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Author: https://bitcointalk.org/index.php?action=profile;u=1152502

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P.S The author is not an expert in the field of blockchain technology and smart contracts and does not call for investing in any companies and projects. In making any financial decisions readers should always must rely on their own experience and understand all possible risks!