GPS have been a major way to track locations and most times we use our GPS even to move around. Driver less cars also depend on this GPS to move around. Mostly every device we use now have a GPS inside of it. But most of the times GPS are just not accurate enough because most time they have outdated data or there is interference I'm the way they work. This is my GPS showing that I'm out of my house while I'm sitting in my room.
This cause a lot of problems everyday because we rely on them to do most things.
Most times when we order products online we can't track the location of our products when they ate shipped, and most of the times we can even get this product. this happens because GPS rely on a single centralized data source for validating locations of people and things.
The XYO network plans to eliminate these problems with GPS by creating a network of devices that works together to help individual to confirm Proof of Locations of things and people. The network is a decentralized network in which connected devices help in validating locations or uploading location data into the blockchain.
XYO NETWORK
XY Oracle Network or XYO Network offers a trustless and cryptographic location network that makes use of a novel formulation which is based on a chain of zero-knowledge proofs. This allows for a high degree of certainty about the information related to the location. XYO facilitates layered, location verification across multiple protocols and device classes. At its core sits a set of novel mechanism of cryptography, known as Proof of Origin & Bound Witness. It combines the power of blockchain technology and real world data collection into a system for direct applications.
The XYO network will collect data from different devices to validate locations. This will reduce mistake about location pinpoint. As seen above if there are different sources of information on my location it won't make the mistake of locating me out of my house. The XYO technology can be used to improve all location-based “smart contracts”. For example orders can be paid easily on delivery, the network will let the service provider know that the product you buy is actually with you.
USE CASES
The XYO network will be able to fix some real life problems like:
PAY ON DELIVERY AND ORDER TRACKING: Since most things are connected to the internet, online market will be able to use the XYO network devices that provides data to the network to track products that are shipped to consumers and this will let them know when the products reach their destination, this will allow consumers to pay with the initiated smart contact by the seller. This will make online buying and selling more easier and safe because both buyer and seller will be in safe hands.
EMERGENCY CASES: with the pinpoint accuracy of locations brought by the XYO network, it will be be easier to respond to emergencies. This will allow emergency response to know the exact location where something is happening. This will safe a lot of lives all over the world because many people die because of late emergency response.
THEFT AND LOST ITEMS: Since the XYO network is connected to IoT devices all around , the network will make it easy for us to find lost items and stolen items. Since other device connected to the network will help in reporting or gathering location data of other items connected. Another car can easily report the location of a stolen car to the network. This will also reduce the loss of luggage at airport or luggage forgotten on trains.
HOW IT WORKS
The world of today is now connected by the internet, there brings the term "Internet of Things"(IoT) meaning different devices that are connected to the internet. This makes it possible for the phone to be able to communicate with the television and other devices to communicate with each other too to make them smarter and easy to use. Also there are millions of devices that are GPS enabled and are connected to each other via the internet. XYO network plans on connecting with all this connected devices to be the source of data and validation of locations, so that with all of these devices linked up, they can track very accurately where something is and then use that data to execute a contract on the Ethereum blockchain.
WHY BLOCKCHAIN
To reduce data corruption and spoofing, the data gathered by these devices will be stored on the blockchain network since data on blockchain cannot be changed or deleted.
XYO TOKEN
The purpose of the XYO Token (XYO) will be so that smart contract developers can use it to access geo-location verification from the real world.If you have a smart contract on the XYO Network, like for example if Amazon used it with their packages to take payment on delivery of items, then they would need XYO tokens for their smart contract to make contact with the IoT devices. This means the more usage there is of the XYO Network, the more tokens will be used. Token details are as follows:
| Token | XYO |
|---|---|
| Price | 1 ETH = 100,000 XYO |
| Bonus | Available |
| Bounty | Available |
| Platform | Ethereum |
| Accepting | ETH |
| Hard cap | 48,000,000 USD |
ICO DATES
2018-03-20 - 2018-05-21
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