XYO Network, a blockchain based location data, is building a location technology with complete transparency and without placing trust in a centralized third party, through the blockchain. XYO is a blockchain for the location.
Currently, GPS system is not suitable for location based applications that will need precise and reliable location data. Recently, Boeing patented a blockchain-based data to be used as a backup record of information in the event that the anti-spoofing system detects potential trouble store in case of GPS failure during a flight.
Most GPS is unencrypted, it has no proof-of-origin or authentication features, and it remains extremely susceptible to fraud, spoofing, jamming, and cyberattack. Sadly, the global financial system still depend heavily on GPS, leaving them vulnerable to hack.
XYO Proof of Location can provide consensus on whether a location origin is valid or not. It allows XYO Network components to privately record authenticated location data, archived it and then provide honest analysis of heuristics.
XY company has become the leader in the world of findable technology with Bluetooth and GPS tracking devices which allow everyday consumers to track real-world items in real-time, right from their smart phones. XY now has over 1 million location beacon devices circulating in the world. In just a few years, the company has created the single largest network of Bluetooth & GPS devices in the world.
Now, with the acquisition of GEO, XYO Network will continue its proven track record of effectively delivering large scale products into the industry’s leading location based technology. This collaboration helps to extract the maximum value from blockchain technologies and Proof of Location.
GEO was founded by famous programmer and white-hat hacker, Jack Cable. The GEO technology relies on a network of physically fixed devices called Nodes. Users may connect via Bluetooth to a Node and get a Proof-of-Location signature. User device ID and timestamp are used to generate the signature, basically answering the questions “Who, when and where?”. The protocol is built on Ionic platform and utilizes Bluetooth which combined makes it cross-compatible with any mobile system. Probabilistic Proof-of-Location is essential for applications in e-commerce (shipment tracking), automated drones communication and hospitals (communication failure and record keeping). Therefore, GEO offers a special smart contract model for such use-cases.
This collaborative technology will make huge advances in the business effectiveness with precise and trustless location data.
More info about XYO Network and GEO technology can be found at: https://xyo.network