XYO Network ICO - Blockchain enabled IoT providing the absolute accuracy of location-based data.

kennethdarren638 (28)in #xyonetwork • 7 years ago

5W1H concept
Continue our 5W1H series, I introduce to you XYO Network.

Disclaimer: The information on this article is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. I make no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this article or any sites linked to or from this article.
What is it?
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XYO Network, is a blockchain-backed oracle network to enable this novel technology to enter the real world, dedicating to establish a decentralized location-reliant trade markets.
Why is it there?
Now, let's me get back a little bit. Have you ever heard of the phrase the “Internet of Things (IoT)”? I bet you did.
The term IoT addresses everything connected to the internet. Yet mostly, people use it when mentioning stuff that can “communicate” with each other - machines that could be interconnected, from the simplest sensor to complex AI algorithms in smartphones (A smartwatch or fitness collars for dogs are some to name a few).
But why does that matter? Well, my friend. Gartner, an American research and advisory firm in the IT industry, reported that by 2020, more than half of major new business processes and systems will incorporate some elements of the Internet of Things, which reveals the huge potential of this market.

And when we talk about IoT, the most outstanding problem is the data issue. By connecting all the devices, we could gather information, analyse it and provide people with more comprehensive solutions or satisfying offers. Yet the thing is, the currently obtained data coming from those devices are not absolute accurate and vulnerable to be manipulated by any malicious attack, which is constraining us from moving forward. And that' where the XYO network jumps in.
How do they do that?
What the XYO network project offers is an ecosystem of crypto-location protocols and components utilizing the blockchain power to solve the problems - to bring the most accurate location data which is securely protected by the whole network, making it impossible to be manipulated.
Here's an explainer video for your better project understanding
https://xyo.network/?wvideo=7h0zqarsld
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Their components: They have 4 components with a defined specific role for each

Sentinels: acts like recorders to note down the location data that they could collect from the environment with the absolute accuracy thanks to temporal ledgers that they produce.
Bridges: work as transporters to securely transport the information from Sentinels to Diviners ensuring that there is no interruption or any manipulation takes place during the process of data transporting, which increases the accuracy and credibility of the outcome.
Archivists: are free-of-charge decentralized storages to keep all the historical data. Users only need to pay for the network whenever they retrive the ledgers kept here.
Diviners: are like analyzers returning the outcomes to users according to their request based on the ledgers stored in Archivists.

With this secure process of cooperating between those 4 components, the XYO provides users access to accurately verified location around the world with
Who're behind the project?
There are 12 members in their team and they also have advisory board of 12 people consisting of highly experienced experts in the fields from network scalability to AI, as well as IoT security and many others from the business sides.

Their Founder and Architect - Arie Trouw together with his Co-founder & Head of Marketing - Scott Scheper have passed the ICObench KYC report which show a firm credibility of the project

Where do they aim at deploying the project
Their solution can be applied into any industry yet there are some certain use cases that they are proposing to investors as the first markets (Click in each for a full pdf file of each use case):
-eCommerce:Absolutely, why not take on the ones in need the most? Talking about eCommerce is about delivery which requires absolute accuracy since you don't want your order to be passed to your hateful neighbors right? More specifically, According to a Comcast study, more than 30% of Americans have had a package stolen from their porch or doorstep.
-Medical Care and Hospitals: this use case is impressive to me since it shows the brilliant brains of the team on how to utilize their solution: based on the fact that adverse drug interactions, improper medical records and unnecessary surgeries are the some of the issues making medical errors the third leading cause of death in the U.S. Specifically, medical care service providers can store their medical records in the XYO network for better kept.

-Rental Car Agencies: Not limited to rental cars but also expanding to vehicle-share platforms like bikes or motorbikes as well, the logistical problem is the real pain in the head. In fact, in 2017, there was a Chinese bike-share firm that closed after a 90% of cycles stolen partially due to the poor logistical management. With the XYO network's accurate location data, such thing won't happen again.
-Commercial Airline Luggage Logistics: Have you ever lost your luggage on a flight? I bet you did or at least you know some on in your circle of friend who did. Speaking of macroeconomics, lost and mishandled luggage costed airlines $2.1 billion dollars in 2016, according to a study by SITA. The XYO decentralized network allows airlines to communicate with each other tracking and locating luggage without compromising the airlines’ network security or needing to coordinate system updates.

Insurance Agencies: Insurance fraud often take place, especially for highly mobile goods. Stolen car or car accidents are among the top 10 most common types of those (Source: BusinessInsurance). The XYO team is already working with an insurance company in solving this issue thanks to the advantage of having access to high quality location-báed blockchain ledgers in the XYO network.
-National Security Agencies: The NSA relies hugely on the accuracy of their location-based data report to come up with the suitable tactics and strategies ensuring the nation’s security. Good news is that a high-profile government security agency has contracted with XY to secure firearms in major transportation hubs throughout the United States.
Drone Package Delivery System: together with Fourth Industrial Revolution, many companies are also planning to apply drone package delivery to their service offered. And this type of use case requires even more accurate data than the eCommerce application mentioned above.
Basically speaking, anythings related to Logistics. In fact, the XYO network could be the century-breakthrough of the logistics industry if well-implemented.

When does it happen + Token info
Token Symbol: XYO
Token type: ERC20
ICO Token Price: 1 ETH = 100,000 XYO
Hardcap: 48,000,000 USD
Total Tokens: 24,158,373,684 (projected)
Whitelist: Yes
Know Your Customer (KYC): Yes
County of Origin: USA
Country excluded: USA
Token distribution: