XYO Network is building that - and to an impressive extent, already has. They're now operating the largest network of GPS and Bluetooth devices in the world, with over 1 million acting as location beacon devices.
"The need for a difficult-to-disrupt system to complement GPS has been well known for years. GPS is exceptionally accurate and dependable, yet jamming, spoofing, cyber attacks and other forms of interference appear to be growing in frequency and severity. This has the potential for devastating effects on our lives and economic activity." - says Dana Goward, Executive Director of the Resilient Navigation & Timing Foundation.
That's what the XYO Network will function as, with the intent of using blockchain technology to create a totally trustless method of tracking anything, anywhere. Creating a network that developers can interact with the real world as if it were an API.
So here's how it would be used in the real world. An online shopping site could build in a smart contract the location (XY coordinates) of the home or business they're shipping something to, with the agreement that funds are not released until the item reaches those coordinates.
They would then track the item every step of the way. From wearhouse, to shipment and all locations inbetween. Holding the funds within the smart contract, they would be released when the package hits it's destination. Allowing the shipper to gurantee delivery, and the buyer to never pay for something until it's recieved.
"The XYO Network is the world’s first XY-coordinate bridge between blockchain and the real world” says company founder Arie Trouw.
The XYO Network has a consumer-friendly Web App Interface called "XY Gamma" with developer APIs, and software libraries for a range of popular smart contract languages.
Whitelisting for the ICO is live now at https://xyo.network
Author: Adam Lee
Asia News Desk
