XYO Network - The Cryptocurrency For Blockchain Location

Introduction:
Buying products online has never been easier. According to a study by Statista 2018, retail e-commerce sales worldwide are expected to rise to 2842 billion USD in 2018. Compared to the years before, e-commerce sales will grow about 20%, which is a steady uptrend since 2014. E-commerce sales is furthermore expected to grow even bigger in the upcoming years.

Existing Problem:
With every passing second, thousands of online orders are made worldwide. Although logistics has improved a lot in the past few years, companies have issues with lost or wrongly delivered packages. Failed deliveries are not only costly for the company itself, but also has impact on the reputation, since unsatisfied customers tend to leave negative feedback.
On the other hand, the buyer cannot easily verify if his package was really sent out or not. Current existing tracking tools are not always accurate and no solution for that has been found.

Solving the Problem with Blockchain - The XYO Network:
With the emergence of the blockchain technology, which offers a decentralized system, transactions made are transparent and safer than ever.
A currently ongoing project called "XYO Network" (XY Oracle Network) tries to solve this problem using the blockchain technology. The XYO Network aims to create a decentralized platform, which offers trustless and safe location-verification. What's special about this platform is, that is opens up the possibility for developers and smart contract to cooperate directly with each other without the need of a mediator. Besides that the decentralized platform aims to be attack-resistant and accurate when requested for data. Real life applications are going to be self-driving vehicles, package delivery drones, and smart cities.

How does it work?
Any product that is connected to the GPS (Global Positioning System) can be tracked. The GPS technology has been known for quite a few years now and is extremely accurate in tracking the exact position and furthermore is also resistant against spoofing and cyber attacks. With having one of the biggest GPS and Blueetoth beacons, the XYO project aims to prove the origin of physical location signals.
As an example, an ordered product can be tracked from the sender, up until it finally reached the destination of the receiver with high precision. The user can track exactly at what time the package was located at what position. Only when it has been ensured that the recipient has received his package, the process is regarded as completed.

XYO-ICO:
The XYO project is currently doing its ICO to raise funds for further developments. The ICO will last until the 20th of May. The total projected XYO supply is around 24.000.000.000 XYO tokens with a projected public sale cap of 48.000.000 USD. For 1 Ethereum you can get around 100.000 XYO tokens. XYO tokens are currently based on the Ethereum platform and are therefore considered as ERC20 tokens. All unsold tokens will be burned.

XYO-Token-Rewards:
XYO-Tokens are utility tokens. They are rewarded if for example relevant data are provided, which helps other users to track or find their desired product.

Use-cases:
Unlike many projects with only a vision, XYO already has been working on use-cases. Those are for example in the fields of:

• eCommerce
• Medical Care and Hospitals
• Rental Car Agencies
• Commercial Airline Luggage Logistics
• Insurance Agencies
• National Security (TSA) Agencies
• Drone Package Delivery Systems
• ...and even more in the future

My Opinion:
Overall I'm very excited on the XYO project. Bringing the blockchain into the real world with a real use case and focusing on the e-commere sector, which will for sure grow in the upcoming years is a big thing in my opinion. So far the project is really loking promising and I'm excited to see how this project will develop in the near future.

Further Information:
Want to know more about the XYO project? Take a look at their official website and their whitepaper for more information. Also subscribe to their official communication channels to stay up to date. Any questions, feel free to comment below.

Website: https://xyo.network/
Whitepaper: https://docs.xyo.network/XYO-White-Paper.pdf
Twitter: https://twitter.com/XYOracleNetwork
Facebook: https://www.facebook.com/xyonetwork
Telegram: https://t.me/xyonetwork
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3040825.0
Bitcointalk Bounty: https://bitcointalk.org/index.php?topic=3053801.0
My Bitcointalk Profile (Rano): https://bitcointalk.org/index.php?action=profile;u=1609093
My ETH: 0xFc58f16Ab51A635fdb06b4Db14E59ad994884AD7