A Location Service System Like No Other - XYO

adekogbe (53)in #ico • 6 years ago (edited)

XY Oracle Network (XYO): The Proof of Origin Based Cryptographic Location Network

The XY Oracle network is a decentralized platform that offers high precision and certainty of location data to devices integrated with it. XYO provides a proof of location service that is tamper-proof and has a trusted level of accuracy to real world assets that is applicable to a wide range of fields and sectors.

Why is XYO needed?

To understand the need for a platform like XYO, there is a need to first highlight the use and importance of location based services and devices.

Location Based Services (LBS)

Location based service is an information service that uses location data to control features gotten from location enabled devices for a variety of uses ranging from control of production processes, tracking of logistics supplies, feedback systems and a wide variety of other uses.

LBS is not only important buy critical to a lot of businesses and government organizations alike, LBS is used to derive insights from data tied to a specific location to monitor activities and processes and they take place.

The present location based devices however are not without their flaws and limitations. The challenges faced by business and organizations with location services today and mostly down to issues of integrity of location certainty properties.

Location devices are not completely tamper-proof and even GPS signals can be spoofed necessating the need for a trusless decentralized location system.

Blockchain To The Real World with XYO

XYO is the first of its kind; a decentralized platform leveraging the blockchain to provide location services to real world assets and devices. XYO uses smart contracts which interacts with real life hardware and devices in the same way it does with APIs to provide crypto-location service that can be trusted.

XYO Explained In Simple Terms

The existing smart contract on common blockchains like Ethereum and its likes, acts on a specific set of authoritative commands in the mediation of on-chain transactions. This systems works perfectly well with on-chain commands because of the predetermined or predictable set of actions that can possibly happen.

Off-chain assets however rarely act in the same predictable ways, meaning it is challenging to integrate smart contracts with physical assets that do not have a predetermined or predictable way of actions. It is a even bigger challenge to integrate smart contracts into mediation of transactions and interactions between different sets of real world assets.

Location data are extremely flexible and unpredictable, as the variations in data are so many and pinpointing the true location of a physical entity are subject to the most miniscule of data variations In measurements (latitude, longitude, elevation, depth and more). These variables are so much that its impossible to write all into a smart contract at once.

Location data services will have to rely on real time accurate reporting of location data in order to get it right.

This is where XYO comes in; XYO understands this challenge and has taken proactive steps to make possible the reporting of real life assets where ever they may be on the planet. With over 1 million location verifying beacons already built, XYO is decentralizing the world's location reliant trade markets.

XYO is taking the world to the blockchain, revolutionizing the way location-reliant businesses operate with real time tracking like none before and a smart contract mediating the initiation of commands and transactions between physical real world entities in the process.

The XYO token sale is live and early investors have a chance to purchase XYO tokens before the launch of the platform. Visit the links below to access the projects website, blogs and communities for more information about the project and how to participate in the token sale.