XYO: The First Decentralized Network for Location Data Validation


Previously you have learnt about the roadmap of XYO project and you also have met the team of XYO. Here, you will read the benefits that the decentralized XYO Network have that make it better than any centralized platforms.

[infobox style=”alert-success”]Benefits of the Decentralized NYO Network[/infobox]

NYO Networks charge lower fees comparing to centralized platforms. As market users are required to use XYO token for the transactions within the network, buyers and sellers will need to pay only for location-verification and computation execution. There is no extra fee that they should pay. Moreover, XYO is a type of an open-source which means that is free to use. Anyone can join the work without any entrance fee. It can be accessed publicly by anyone regardless of the location and government regulations.

Furthermore, NYO Network has no entrance barriers. The system will eliminate the need of middle-men or brokerages for many transactions. We all know that the presence of middle-men can make the cost higher. The Ethereum smart contracts will replace the middle-man. This will benefit both sellers and buyers. The other benefit is due to its autonomous and transparent system. The autonomy of the system is built through the use of crypto economics. It will give advantages to buyers and sellers who rely on location verification as in the case of package delivery. Then, transparent smart contracts are deployed to govern all rules and conditions of all transactions. Such openness and autonomy is something that centralized platform cannot offer.

[infobox style=”alert-success”]Use Cases[/infobox]

XYO Network has been used in a multitude of the industry. For example, in e-commerce, XYO Network can help track every step of a delivery process, preventing package stolen. In medical care or hospital, XYO can help improve operational or record-keeping errors, reducing failures in record keeping and communication. It also can be used to track any lost and mishandled luggage in airline luggage logistics. Other industry that may use XYO Network are rental car agencies, drones package delivery systems, TSA agencies, and insurance agencies, and many others.

[infobox style=”alert-success”]ICO Token Timeline[/infobox]

The schedule of XYO sales falls into two parts. The first one is the presale which was already closed and the second which is still open is the main sale. The presale was only open for private participants. It was held from 1 February to 6 March 2018. There were 400 million XYO tokens sold out in the private sale with more than 500 participants contributed to the event. Now the main sale is live. It has already started on 20 March 2018 and will run for two months. Based on the schedule it will end on 20 May 2018. The projected cap for this main sale is 48 million USD. The minimum purchase is 0.5 ETH.

Proceeds from the sale will be used for reaching the main goal of XYO that is to replace the centralized GPS with its system. Therefore, the funds will be allocated for the areas of engineering and R&D, partnership marketing strategies, platform operations, and blockchain projects support.

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