the project will allow you to track just about anything you can think of via the blockchain, using XYO’s network of connected devices. So this could be anything from a package Amazon delivers to your home, to aeroplane baggage, medical equipment and more. Using the XYO Network, companies will be able to track exactly where things are and use this data to execute smart contracts on the blockchain
With the advent of blockchain-based, trustless smart contracts, the need for oracle services that arbitrate the outcome of a contract has grown significantly. Most current implementations of smart contracts rely on a single or aggregated set of authoritative oracles to settle the outcome of the contract
The XYO network is proposing a trustless, cryptographic location network using a novel formulation reliant on a chain of zero-knowledge proofs to establish a high degree of data certainty on location information. The XYO Network (XY Oracle Network) is an abstraction that enables layered, location verification across many device classes and protocols. At its core sits a set of novel cryptographic mechanisms known as Proof of Origin & Bound Witness that tie together the power of blockchain technology and real world data collection into a system with direct applications today.
The XYO Network has been working towards the concept of enabling developers, such as those writing smart contracts for blockchain platforms, to interact with the physical world as if it were an API. The XYO Network is the world’s first oracle protocol that makes it possible for two entities to transact in the real world without a centralized third party. Our abstractions allow us to make location verification trustless for developers, creating a protocol with novel use cases that have not been possible until today. The XYO Network will be built upon an existing infrastructure of over 1,000,000 devices circulating in the world that were distributed through their consumer-facing findables business. XY’s Bluetooth and GPS devices allow everyday consumers to place physical tracking beacons on the things they want to keep track of (such as keys, luggage, bikes and even pets). If they misplace or lose such an item, they can see exactly where it is by viewing its location on a smartphone application. In just six years, the XYO Network has created one of the largest consumer Bluetooth and GPS networks in the world.
• 2018: Q1 & Q2 — the creation of the XYO Token which will be used for smart contracts to access the network. They will also be testing the network and rolling out the blockchain protocol to the sentinel devices, which are the many devices like light bulbs, doorbells, garage openers, cars and phones that make up the Internet of Things (IOT).
• 2018: Q3 & Q4 — Roll out of the API which will allow developers to write smart contracts to interact with the XYO Network. Also release sticker-based trackers for packages, which e-commerce companies like Amazon will be able to use.
• 2019 — Stakes in XYO’s satellite network to be sold. Will also aim to grow the network and partner with larger organisations.
• 2020 and beyond — Expand the reach of the XYO network around the world.
You can check out the ICO here https://xyo.network/, join XYO Network on Telegram here https://t.me/joinchat/GVfdkUtqtEQ5CC2xXYMqlQ and follow their announcements here.https://bitcointalk.org/index.php?topic=3040825.0