Statistics show that almost half the world's population works, with many large companies, or organizations that absorb thousands of these populations. Speaking of government agencies employing civilians, they are seen as the largest employers in many countries in the world. How do these agencies store information related to workers such as their CVs, paychecks, etc.? Countless number of printed papers used to store this important information, which in the worst case scenario, can be destroyed if not stored properly. The best case scenario, this information can be lost, with improper storage. Over the years, many of these companies that have adopted this information storage on computers or centralized storage online, this is good, but it has its disadvantages: if centralized storage has an infection or virus error, all data is lost without recovery. This centralized storage does not support effective data sharing without altering data security. So they must be printed and handed over to each worker by hand for confirmation and signing.
Organizations that absorb thousands of workers can not pay salaries to workers so they use intermediaries like banks to pay workers. Bank fees are very high per worker is paid. Sometimes workers wait a long period of time before the payment reaches them. Workers are paid in fiat currency that continues to depreciate in value and are subject to inflation. Worker accounts in banks are also subject to monthly deductions as bank fees for savings. Individuals do not have full control over their funds.
Solution
The solution to the above mentioned problem is blockchain technology as it provides the means to store complex information or digital ledgers in a decentralized way that opens up a way of validating information. It also allows sharing of peer-to-peer information without compromising the security of the data being shared.
The solution to the above mentioned problem is blockchain technology as it provides the means to store complex information or digital ledgers in a decentralized way that opens up a way of validating information. It also allows sharing of peer-to-peer information without compromising the security of the data being shared.
On this occasion I will explain what is xyo network, and let's see my article below explains about xyo network.
What is XYO Network?
This project is the first decentralized blockchain platform ever that may be fully trusted by users; it is guaranteed with location proof network. The main goal of the project is to build a decentralized platform which will eliminate the vulnerability of the platform so that it could confront any sort of attack. This leads to a great extent of assurance in all the available data. The organization obtained this result through a set of distractions which diminish the danger of tracking the position of a user.
The XYO sees the issue in confidence of the data and in the absence of decentralized systems. Such networks, as Ethereum, were adopted broadly by developers of location applications because of their ability to intercede coordination securely in an online mode but none of these developers used them to apply it to a real world because of the corrupted data.
How XYO works?
It solves the problem of an absence of a decentralized system by constructing a layered location authentication service which may be exploited by a range of different devices and gadgets through smart contracts. It is based on a number of unique mechanisms of cryptography — Proof of Origin and Bound Witness.
The Network is composed of four primary components, such as Sentinels, Bridges, Archivists and Diviners:
The Network is composed of four primary components, such as Sentinels, Bridges, Archivists and Diviners:
- The goal of the first element is to collect the information about the position, environment etc, and stock this information in a ledger. It is important that these ledgers are trusted and recognized by other components of the platform. This result is obtained by giving a reward to a Sentinel if its info answered a query. To boost the chances of receiving a reward, they must provide the system with ledgers consisting of accurate information.
*The second component receives data from Sentinels, and then safely transports it to an Archivist. The third component can be confident that received information is certain and that it wasn't modified or changed. - The third component stocks the info transported by the second element. The information reserved by the third component consists only of raw info. The preservation of the information is free of charge, fees are taken only for retrieval of the data and its use.
- The fourth component's main goal is to select the most accurate information from the XYO Network and to answer a query with the help of it.
So how someone can benefit from using XYO? For example, when a user of this network commits a request to find out whether an order was delivered to a client, he achieves accurate information given by The Network. Using ordinary applications that rely on the centralized data may be potentially unreliable, while XYO analyzes all the location data and chooses the best answer based on the accuracy of the provided info.
XYO NETWORK USE CASES
The XYO Network has use cases for any participant in location-reliant transactions. Outlined below are use cases that the XYO Network is actively being utilized for.
eCommerce
According to a recent study released by Comcast, more than 30% of Americans have had a package stolen from their porch or doorstep. As the market share of eCommerce continues to grow, this problem will only become more prevalent. By utilizing the XYO Network and XYO Tokens, companies like Amazon and UPS can offer, as a premium service, an independently confirmed ledger to track every step of a shipment’s progress, starting at the fulfillment center and ending with the package’s secure delivery within the customer’s home.
According to a recent study released by Comcast, more than 30% of Americans have had a package stolen from their porch or doorstep. As the market share of eCommerce continues to grow, this problem will only become more prevalent. By utilizing the XYO Network and XYO Tokens, companies like Amazon and UPS can offer, as a premium service, an independently confirmed ledger to track every step of a shipment’s progress, starting at the fulfillment center and ending with the package’s secure delivery within the customer’s home.
Medical Care and Hospitals
Medical errors are the third leading cause of death in the United States, according to a study released by Johns Hopkins School of Medicine. Many of these preventable deaths are a result of operational or record-keeping errors, including adverse drug interactions, improper medical records, and even unnecessary surgeries. By tying the XYO Network into the operational frameworks that are already in place, care providers can significantly reduce failures in communication and record keeping that result in patient injury and death.
Medical errors are the third leading cause of death in the United States, according to a study released by Johns Hopkins School of Medicine. Many of these preventable deaths are a result of operational or record-keeping errors, including adverse drug interactions, improper medical records, and even unnecessary surgeries. By tying the XYO Network into the operational frameworks that are already in place, care providers can significantly reduce failures in communication and record keeping that result in patient injury and death.
Rental Car Agencies
The number one problem that rental car agencies face are logistical ones. Simple events such as the customer losing their keys results in millions upon millions of dollars in lost opportunity cost for car rental companies each year. XY has already implemented a pilot program with one of the largest US rental car agencies to help cut down on the number of keys that aren’t returned at major airports. By expanding the program to make use of the XY Oracle Network, the rental car company and its customers can reduce the number of lost keys.
The number one problem that rental car agencies face are logistical ones. Simple events such as the customer losing their keys results in millions upon millions of dollars in lost opportunity cost for car rental companies each year. XY has already implemented a pilot program with one of the largest US rental car agencies to help cut down on the number of keys that aren’t returned at major airports. By expanding the program to make use of the XY Oracle Network, the rental car company and its customers can reduce the number of lost keys.
Commercial Airline Luggage Logistics
Lost and mishandled luggage costed airlines $2.1 billion dollars in 2016, according to a study by SITA. While systems are improving, the complexities of air travel still result in millions of angry passengers with lost bags each year. The XYO Network has implemented a decentralized, trustless system for tracking and locating luggage. Its decentralized nature even allows airlines to utilize each other’s networks without compromising the airlines’ network security or needing to coordinate system updates - this means that if you’re at the United desk in Dallas, but your bag is at the Delta desk at SFO, the bag can still be instantly located by accessing the XYO Network Ledger.
Lost and mishandled luggage costed airlines $2.1 billion dollars in 2016, according to a study by SITA. While systems are improving, the complexities of air travel still result in millions of angry passengers with lost bags each year. The XYO Network has implemented a decentralized, trustless system for tracking and locating luggage. Its decentralized nature even allows airlines to utilize each other’s networks without compromising the airlines’ network security or needing to coordinate system updates - this means that if you’re at the United desk in Dallas, but your bag is at the Delta desk at SFO, the bag can still be instantly located by accessing the XYO Network Ledger.
Insurance Agencies
Insurance for vehicles, modular homes, and other high-value, high-mobility objects can reimburse for theft, but can’t inherently assist in locating the original good. The insurance industry is also susceptible to fraud, especially in the case of insured items that are highly mobile. XY is already working with an insurance company that covers high value, high mobility goods to help them process claims and recover insured goods. Using the XYO Network, a decentralized and trustless location-based blockchain ledger, the company and its customers have access to an independently verifiable location history in the event of a claim.
Insurance for vehicles, modular homes, and other high-value, high-mobility objects can reimburse for theft, but can’t inherently assist in locating the original good. The insurance industry is also susceptible to fraud, especially in the case of insured items that are highly mobile. XY is already working with an insurance company that covers high value, high mobility goods to help them process claims and recover insured goods. Using the XYO Network, a decentralized and trustless location-based blockchain ledger, the company and its customers have access to an independently verifiable location history in the event of a claim.
National Security (TSA) Agencies
In high security areas, it is essential to ensure that any authorized firearms are strictly controlled. Creating a system that is secure, reliable, and publicly accountable poses an operational challenge. A high-profile government security agency has contracted with XY to secure firearms in major transportation hubs throughout the United States. The use of XY’s existing technology saves the agency millions of dollars, and the decentralized nature of the blockchain creates a system that is both independently secure and publicly accountable.
In high security areas, it is essential to ensure that any authorized firearms are strictly controlled. Creating a system that is secure, reliable, and publicly accountable poses an operational challenge. A high-profile government security agency has contracted with XY to secure firearms in major transportation hubs throughout the United States. The use of XY’s existing technology saves the agency millions of dollars, and the decentralized nature of the blockchain creates a system that is both independently secure and publicly accountable.
Drone Package Delivery Systems
Numerous entities are very close to implementing automated drone services, from eCommerce giants like Amazon and Walmart to Google/Alphabet’s Project Wing to the numerous drone mapping services already in operation. Ensuring public safety, securing personal privacy, and maintaining compliance with FAA regulation will become increasingly challenging as guidelines are altered and skies become more crowded.
Numerous entities are very close to implementing automated drone services, from eCommerce giants like Amazon and Walmart to Google/Alphabet’s Project Wing to the numerous drone mapping services already in operation. Ensuring public safety, securing personal privacy, and maintaining compliance with FAA regulation will become increasingly challenging as guidelines are altered and skies become more crowded.
Price
- On March 20, 2018 XYO began selling at the Exchange Rate of 1 ETH to 100,000 XYO.
- After every transaction, the price of XYO increases in order to reward early project backers. Thus the amount of XYO one receives per 1 ETH decreases slightly after each token transaction.
- After the price reaches 1 ETH to 33,333.33 XYO, the dynamic price increase freezes and continues at that exchange rate until the conclusion of the sale.
IMPORTANT: After the sale ends ALL UNSOLD XYO will be burned forever. No new XYO Tokens will ever be generated. All future XYO will be earned through XYO paid to crypto-location miners in exchange for them returning locational data to smart contract requests.
XYO TOKEN
The purpose of the XYO Token (XYO) will be so that smart contract developers can use it to access geo-location verification from the real world.If you have a smart contract on the XYO Network, like for example if Amazon used it with their packages to take payment on delivery of items, then they would need XYO tokens for their smart contract to make contact with the IoT devices. This means the more usage there is of the XYO Network, the more tokens will be used. Token details are as follows:
TOKEN SALE: 20 MAR – 20 MAY
TOKEN SALE: 20 MAR – 20 MAY
- Ticker: XYO
- Token type: ERC20 ICO
- Token Price: 1 XYO = 0.0207 USD (0.00003000 ETH)
- Fundraising Goal: 48,000,000 USD
- Sold on pre-sale: 413,345,292 XYO (UP TO 100% BONUS)
- Whitelist: YES (UNTIL 7 MAR, JOIN ) Accepts: ETH
Roadmap
Team
For more information about XYO Network Project please visit:
Website: https://xyo.network/
Whitepaper: https://xyo.network/whitepaper
Facebook: https://www.facebook.com/xyonetwork
Twitter: https://twitter.com/XYOracleNetwork
Telegram: https://t.me/xyonetwork
ANN Thread: https://bitcointalk.org/index.php?topic=3040825
Bounty Bitcointalk: https://bitcointalk.org/index.php?topic=3053801
Website: https://xyo.network/
Whitepaper: https://xyo.network/whitepaper
Facebook: https://www.facebook.com/xyonetwork
Twitter: https://twitter.com/XYOracleNetwork
Telegram: https://t.me/xyonetwork
ANN Thread: https://bitcointalk.org/index.php?topic=3040825
Bounty Bitcointalk: https://bitcointalk.org/index.php?topic=3053801
Author: tommisetiyawan
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1930443
Eth Address: 0x851db1653D006AaC0fB4fa19cE826b2a135600ff
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1930443
Eth Address: 0x851db1653D006AaC0fB4fa19cE826b2a135600ff
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