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The XYO Network, the world’s first Proof of Location oracle network, announced the launch of its ICO stage. XYO is based on blockchain technology, offering real-time location tracking of cars, objects and other items by using an extensive network of GPS and Bluetooth beacons coupled with cutting-edge blockchain technology.
More information can be found at https://xyo.network.
The XYO Network is designed as a revolutionary alternative to traditional GPS-dependent location tracking systems, in an effort to provide a high-reliability, transparent Proof of Location system with extensive applications in e-commerce and other industries. The new system aims to decentralize location-reliant trade markets, an industry worth more than $11 trillion USD per year.
Over the past few years the research team behind XYO Network focused on two goals: creating a location-based consumer product business with a network of more than one million GPS and Bluetooth beacons, and developing location-focused blockchain technology applicable in the offline world.
The result is an innovative system allowing real-time tracking of goods, packages, cars and other items, directly from one’s smartphone.
There are many potential applications of the XYO Network. E-commerce businesses, for instance, can offer their premium customers payment-upon-delivery services via a smart contract which identifies the moment the package has entered the customer’s home. This eliminates e-commerce fraud while ensuring that customers only pay for products that actually arrive at their homes.
A spokesperson for the XYO Network said: “The XYO Network makes it possible for smart contracts to access the real world by using the XYO Network’s ecosystem of devices to determine if an object is at a specific XY-coordinate. If it is, one can set up applications which execute transactions in the smart contract. This has opened up a new world of possibilities. The applications of such a technology are infinite.”
Interested investors can purchase XYO tokens during the limited ICO stage. Any unsold tokens will be burned after the ICO period is closed.
Interested parties can find more information by visiting the above-mentioned website.
Release ID: 311980