Why Will I Integrate My Devices With XYO Network?
This is one of the most important questions I was posed with when I was researching this project, why will anyone voluntarily integrate XYO to their smart devices?. My answer to this question is "Value", I get value by using the services on the XYO network and I also get value in form of XYO tokens I receive when my devices play a role in the XYO network.
Already people use smart devices for a wide range of applications, some of which possess IoT sensors that gathers all kinds of information and data which mostly serves a specific purpose but can also have other applications. People use mobile phones that reports the weather, temperature, location and more to them, they use cars with navigation systems that already record & report location data to them, and many more smart devices with similar applications.
XYO is introducing a system that will utilize these devices in the collection of data while not compromising their functionality but in turn creating an income stream for the owners. Virtually anyone, anywhere in the world can monetize their smart devices using the XYO network.
Business owners can earn XYO tokens with their smart devices and use the same tokens to pay for services on the ecosystem, while everyone else can use the services for a very wide range of applications or trade them for cash.
XYO has a very wide range of applications to real life situations and future technologies. Our basic daily needs, industrial and even agricultural uses are ways in which XYO can be applied, the only limit to the applications of XYO is in our imaginations.
Other Use cases may include personal use cases like parents can tracking where their teenage children drives to, People Tracking their valuables like jewelry and Industrial use cases like better automation of industrial production processes, construction, surveillance and many more.
Positives Of XYO Network (Strength and Opportunities)
Strength
Existing Base Infrastructure: XYO Network unlike many other blockchain platforms is not starting from scratch as it is a blockchain initiative of an already existing off-chain company. XYO Network unlike other crypto projects already has millions of beacons distributed worldwide, which will kick start the consumer use of the platform before mass adoption.
Opportunities
Applicable Across Many Fields: XYO Network is applicable in its uses over many field that generate billions of dollars yearly like eCommerce, shipping, car rentals, and a lot of other fields and businesses that already generate a lot of money yearly. XYO can also be applied to personal uses and even some unconventional applications like "tracking of animals in wildlife reserves or migration patterns of exotic birds during research" and many more.
A platform with a variety of applications like this offers enormous opportunities for the investors to make very good ROI because, different applications will mean more demand and more demand will only lead to increase in the value of the tokens.
Negatives of XYO Network (Weakness and Threat)
Weakness
People Living In Less Advanced Areas: The XYO project is a very well thought out project and I must admit it doesn't have much weaknesses. The concept works well, senitels and beacons in form of smart devices forming bound witnesses with each other is genius, except for the fact that the reach and functionality could be difficult for people in the developing countries or less developed areas in a country.
For Example: I am a Nigerian and in a big city like "Lagos" or "Abuja" which are both the commercial and national capitals of my country, XYO Network will work perfectly well because of the population, and technological advancement in those cities, but in a developing state like "Osun-State" the functionality may come into question because of the sparse population and the low level of tech advancement in the state.
What does this mean?: Taking for example, a man that has a trucking business will be able to track his assets(trucks) and their movement in the major cities but will face a challenge when it comes tracking them in the other states where senitels can be hard to come by, and considering every device has different reception range it will be hard to predict how this platform will be accepted in the less developed countries around the world.
Threat
As far as threats go, When analyzing this ICO I did not see much of a personal threat for XYO Network, rather the only kind of threat I saw is the same type that most decentralized projects face, which is when the centralized giants with huge resources offering similar services decides to adopt a decentralized initiative.
In XYO's case that giant can be in the form Google who already offers some kind of location services and may recognize the opportunity XYO provides. This will mean a very big competition because of the type of resources and reputation at their disposal. Although this is merely considering the worst case scenario, aside from that XYO network has all the potentials to be a blockchain and decentralization success to the real world.
Conclusion
XYO Network is for me a very good project which has all it takes to be successful. Nevertheless cryptocurrency and blockchain investments are risky and the crypto space is very volatile so be sure to consult your legal and financial advisers before making cryptocurrency investments. The points stated in this article are mine and should not be taken as an investment advice.
Visit XYO's official contacts for information about the token sale.
Official Contacts
Website: https://xyo.network/
Whitepaper: https://xyo.network/whitepaper/
ANN Thread: https://bitcointalk.org/index.php?topic=3040825.0
Telegram: https://t.me/xyonetwork
Facebook: https://www.facebook.com/xyonetwork
Twitter: https://twitter.com/XYOracleNetwork
YouTube: https://www.youtube.com/channel/UCyZDqb9pgntVHJVt1pxXtsw
GIThub: https://github.com/XYOracleNetwork
Connect with me on bitcointalk and steemit here>>
My Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1556229
Steemit Blog: https://steemit.com/@adekogbe/
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