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XYO Network Co-Founder and Head of Marketing Scott Scheper. Photo: XYO Network
XYO Network, a company bridging blockchain technology to the physical world, is partnering with Spaceflight. XYO Network will launch its EtherX satellite with Spaceflight aboard a SpaceX Falcon 9 in late 2019, on SpaceX CRS-19. The EtherX is the first of the XYO Network's fleet of satellites.
XYO Networks' EtherX spacecraft is the first step in achieving its mission of decentralizing the world's location infrastructure, which is currently revolving around the centralized Global Positioning System (GPS), and is owned by the U.S. Air Force. "Satellites are our first step towards building out an open network location, legitimately positioned to displace the U.S. Air Force's GPS monopoly. Furthermore, by pairing it with XYO's cryptographically-backed protocol, we will deliver a layer of un-spoofable location certainty which GPS can never match, "said XYO Network Co-Founder and Chief Marketing Officer (CMO) Scott Scheper.
The current XYO Network is comprised of multiple relative location-based mesh networks. These mesh networks are backed by a cryptographic protocol, underpinning the XYO Network. Smartphones running the XYO application, then serves as the nodes or endpoints. Back and forth, are invisible. Each of these nodes can communicate and verify location, resulting in what we have named "geomining," and this geomining delivers XYO tokens for users.
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