XYO - Proof of location on the blockchain. Trade tracking, innovation on the blockchain.
Choosing the project for investment among many of ICOs is quite a difficult process. Based on my experience and the exit purposes of holding, I started more peer at those projects that have something behind, I mean the basis, for what is valued for this or that investment product. In particular, considering this concrete start-up, for the first time, I would rather passed by, than started a detailed study of its achievements, since I don't appreciate the loud statements about any new block generations. This project that deserves respect for the amount of work done before the launch of the ICO. Although the fund-raising cannot yet boast of great amounts, but not the money is the essence, inasmuch for the project a minimum amount enough for the realization of its concept. In this regard, I want to share my opinion and knowledge with everyone, who thinks about going to the token sale, even with the minimal amount of investment.
XYO Network - this is the decentralized location tracking platform built on blockchainEthereum is positioned as a new kind of blockchain – proofoflocation.
The concept of "proof of location" is no means new, it dates back to 1960. As a part of cryptocurrency was first mentioned in September 2016 and to the end of the month has already become officially accepted as the official terminology as block cryptocurrency mechanism.
XYO started working back in 2012, and the project itself has been associated with the development of GPS and Bluetooth devices. One of the little-known facts is that in 2013 the release of these devices was with the pre-installing program of the unification of the nearest networks, thereby joining the universal web. In early 2017, a little-known company called XY findit released a number of the first hybrid Bluetooth / GPS devices with the included signaling function to track them and other released devices around the world using by GPS/GPRS, GSM/EDGE, HSPA/UMTS, CDMA2000. At the moment, they have been developed a number of software updates, the firmwares, functioning gadgets for ubiquitous interaction, as well as switching to blockchain. At the moment, the active investment start-up of XYO has a powerful network ecosystem supporting a million interacting between itselves devices, due to which the huge surface area is covered, which is most vulnerable to fraudulent operations.
The potential application of XYO is large-scale due to the lack of binding to a particular sphere. Thus, the integration of location proof technologies is implemented in all directions from financial transactions to determining the location of a natural person. Namely, the collection and verification of information received is optimizing to the most favorable use.
The demand for this technology tooks its beginning at the end of 2017 and the market segment is not fully assimilated, and therefore, is forming economic outflow of finances in the amount of 11 billion USD. The development of XYO makes it possible to be realised as the leading representative of this technology.
Party A performs a transaction to party B. In the XYO system, a request is made for the corresponding GPS-chip with the presence of location information, which can be tracked in the blockchain registry, since all the transactions are confirmed by blocks and also the whole information is recorded in XYO block ecosystem in the form of smart-contract.
A smart-contract constantly broadcasts cryptographic information from the beginning of the transaction to the other party with the ability to track the beginning and the end of the transaction in accordance with the points of coordinates. The final stage is the answer of the two parties about the outcome of the transaction.
Personally, I couldn't losing sight of that the XYONetwork is a prominent representative of the perspective directions of development of the blockchain technology. From the concept to the action, a half-developed project presents the grounds for the team's interest, primarily, in development, but not in the collection of investment funds. In this connextion, I have no longer the belief that they can turn into a scam at all.
The project team also has an experience in working with both blockchain technologies and the past experience with networks, as well as tracking of specially adapted devices. The field of technology application is large-scale and soon, along with the project development, we will all be able to test this technology. By buying XYO tokens, you make a contribution to the future and can make a profit in the form of liquidity. But then again, without any guarantees, since it is a cryptocurrency and to predict any result is inappropriately. However, I concluded for myself, that I will keep hold the coin for a year.
Unofficial information: XYO in 2019-2020 intends to launch its own satellite for easy tracking, which optimizes the time spent on all types of operations.
Information resources of the project:
General information on XYO tokens
Price: 1 ETH = 100,000 XYO
Total emission of XYO Network: 24,158,373,684
Number of tokens allocated to ICO: depending on ICO result
Minimum investment: 0.025 ETH
Hard cap: 48 000 000 USD
Dates of Token sale: 20/03/2018 - 05/25/2018