Back in the olden days locating objects on the surface of the earth has been through the mapping system with advancement in technology locating objects have shifted to using GPS which makes use of satellite system to located objects and places on the surface of the earth, Nowadays we have applied location on almost everything we use like phones, cars, watches even our browsers tracks our locations, and because of this the demand for location data has increased over the years with almost every sectors of economy collecting huge amount of location data from people both knowingly and un-knowingly these location data collected have help in solving one problem or been used for decision making.
But these location data been collected how accurate are they? Can we rely on these data for actually decision making? the answer is NO this is because the way we use and access location data allows any one to manipulate the location data; meaning that someone in Asia country can manipulate location data it will be as if the person is in Europe. This have given rise to so many fraud and manipulation that involves location data; one of the example is that most hotels or restaurant uses these means to give fake reviews about their services and because of the way location data are been manipulated no one seems to trust these location data anymore.
The era of location manipulation has come to an end and we are about to witness a trusted location data and this will be made possible through XYO Network using a blockchain technology and a mechanism known as Proof of Origin and Bound Witness. Let's find out more about XYO Network
What is XY Oracle Network (XYO)
The XYO Network is an abstraction that enables layered, location verification across many device classes and protocols. At its core sits a set of novel cryptographic mechanisms known as Proof of Origin & Bound Witness that tie together the power of blockchain technology and real world data collection into a system with direct application today.
Watch XYO Network Intro Video
The XYO Network will be built upon an existing infrastructure of over 1,000,000 devices circulating in the world that were distributed through their consumer-facing findables business. XY’s Bluetooth and GPS devices allow everyday consumers to place physical tracking beacons on the things they want to keep track of (such as keys, luggage, bikes and even pets). If they misplace or lose such an item, they can see exactly where it is by viewing its location on a smartphone application. In just six years, the XYO Network has created one of the largest consumer Bluetooth and GPS networks in the world.[Quote from White paper ]
The XYO Network will change the way we use location data with XYO Network it is possible to execute smart contracts on location data, example of how XYO Network can be applied in eCommerce; let's say a customer purchase a goods and it was sent out to the customer address with XYO Network the customers money won't be deducted until the goods gets to the customer's address then it will trigger the smart contract to bill the customer knowing full well the goods have reach the customers destination, this is not possible in the past because of the centralized nature of location data
Why Invest In XYO Network
I will list four key points I normally consider when making an invest choice when it comes to blockchain projects, blockchain projects gives you tokens in exchanges for your investment with hope that the tokens will grow in value over time so that you will benefit from your investment, therefore it is good to do your research when it comes to blockchain projects before investing in it. Here are the keys points I will consider, the product, the road, the team and token metrics
The product
XYO Network already have a working product with the lunch of their Ground-Breaking GPS Tracking Device(XYGPS) which is capable of giving location report from any where around the world where cellular and GPS data is available and the release of their XY4+ device which makes it capable of operating as an XYO Network node and with over 1,000,000 Beacon Mark scattered across the world. this has got to show that XYO Network is no longer an idea on white paper.
The Road Map
A closer look at XYO Network road map shows that they started as far back as 2017 and have achieve all the set goal for the project with the test net schedule to be launched in Q1-Q2 2018 and main net set to be debut Q3 - Q4, this means the investors into the project won't have to wait a long time to have return on their investment as we have witness in the crypto space the value of token normally go high during the test or main net launch. find out more about their road map https://xyo.network/xyo-tokens#a-roadmap
The Team
XYO Network have a very solid team who have gained experiences in the related field of the project they are building, with Arie Trouw their Founder & Architect well vast in software development who started developing software at age 10 also they all start team of advisors with big names like Raul Jordan who leads the development to scale Ethereum platform which is one of the biggest problem facing Ethereum and Tom Kysar who leads operations in Augur which is one of the most celebrated projects in the Ethereum ecosystem. find out more on the team https://xyo.network/team/
Conclusion
After going through XYO Network white paper, team members, road map, I am rating this project high this is because this project is first of it's kind, it is the first blockchain project that will interact with the real world and get location data these trusted location data gotten from the XYO Network will open up a whole lot of possibility for better decision and analysis to be made and they will open up an API for developers to interact with the platform so in the future I see a lot of things that will be built using XYO Network and it won't be long with their test net and main launching this year. So i am going to have their token as a long term HODL for me.
XYO Network have scheduled their ICO for the sale of their XYO token you can participate and join in the upcoming token sale
Token Sale Information
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Disclaimer:
This is not a financial advice I am just sharing my personal opinion on ICO's. Do your own research before getting into any ICO. Investing in ICO is risky and you could lose your money.