XYO Network; Project Introduction

toluene (47)in #crypto • 6 years ago

Evolution is a key factor that cannot be taken away from man. Man has always found a way to adjust his environment to suit him or find a way to adjust to his environment. From the development of weapons to protect himself from wild animals in the Stone age, to the existence of cars and machines to ease life in the technological age. The ability to evolve and adjust to different ages has continued to make the world a better place to live.

Here is the birth of a new Age, the decentralized age. An age where the existence of Blockchain makes it easy to provide solution to almost any problem encountered in any industry e.g ecommerce, healthcare, data services etc.

Introducing XYO Network

The latest in the Blockchain is the XY oracle network. XYO network is a platform that integrates the Blockchain technology with the real world. It is a decentralized platform that offers accurate, trusted and tamperproof location based data for devices and assets in the real world.

The challenge

The present location based devices are plagued with lack of trust and integrity of the location data provided. These services are important to businesses, organizations, and government for proper operation. With the inefficiency of GPS and other location devices (which are liable to tamper and manipulation), the operation of businesses and organizations that uses location data is affected.

Also, the integration of real world assets and devices with the Blockchain to provide trusted crypto location services is challenging, as the present smart contracts on famous Blockchain doesn’t leave space for uncertainty in the execution of on-chain transactions. With the unpredictable nature of off-chain asset, it becomes difficult to integrate physical assets with smart contract to execute contracts.

XYO Network is the novel solution

XYO is a decentralized location platform that uses the Blockchain to provide location services for assets and devices. The location services provided by XYO are trusted and resistant to hack or any form of attack. Businesses and organization that utilized location data can bank on XYO for high quality location data. XYO makes it easy to track the location of any devices, asset, pet or thing anywhere in the world. It has over 1million beacons spread around the world verifying location.

Also XYO solves the problem of integrating real world asset with the Blockchain. The smart contract that XYO provides allows the easy integration of real world asset and devices with the Blockchain.

Example

Ecommerce startups usually find it difficult to gain customers due to the fact that they are new and don’t have much review or positive feedback from customers. Making sales will be challenging as customers will not want to risk losing their money purchasing from a new and unknown seller.

XYO provides solution to these problems. With XYO ecommerce startups or existing ones can switch to payment on delivery system by tracking the movement of the goods being sent to the customer. This will help the business gain more customers, as consumers will be sure to receive the goods they order for before they commit their money.