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XYO Network, a blockchain-based geographic information system (GIS) with an Ethereum token and its own blockchain network, today announced a partnership with Esri, one of the oldest and largest GIS systems in the world, a company founded in 1969 .
The partnership was born when XYO hired a former employee of Esri and the partnership became an obvious move. Esri wants to be able to access the data that the XYO network is creating for its customers and the XYO network wants to have access to these clients.
Esri owns ArcGIS, a world-class mapping product, and this is the product that will use the XYO network. It currently provides services to more than 350,000 organizations. From the press release on the topic:
The collaboration opens up the possibility for ArcGIS users to enable increasingly important features such as tracing cars in emerging "smart cities", clarifying the often dramatic geographical changes based on natural or man-made disasters and on many other applications and location-based scenarios.
The advent of GPS and location-based services has brought with it several unavoidable realities along with potential improvements. An inevitability is the propensity of people to scam.
During a conversation with Markus Levin, co-founder of XYO Networks, he mentioned the way people were repeatedly able to cheat rare Pokemon in the Pokemon Go game, and how the technologies his company is working on would make it impossible activities. The inevitability is that whenever people are able to act dishonestly, they will. Blockchain knows this and provides a number of ways to disincentivate or disable dishonesty in certain types of transactions.
A potential improvement is the notion of people who can demonstrate what they say. Local businesses can be made or destroyed through the use of online review systems like Yelp !, and there is virtually no way to be sure with standard GPS technology, regardless of whether the reviewers have actually visited the restaurant. Competition can hire reviewers to lie, for example, or can be motivated by some other anti-social element. But with XYO's technology, reviewers may be forced to legitimize their claims by showing that they are in this or that place at any given time, and other evidence can be attributed to them by giving a useful review. Levin states that up to 60% of all online reviews today are useless.
These are just two situations in which the technology of the geographic information system of the XYO network can be used. Levin told us that he really developed a platform and a network where many types of participants can be involved, and using the XYO token, services and companies that need data can access it. In addition, XYO's GIS data can be useful in areas where there is no GPS capability, such as underground or densely populated places, or places with many buildings. "We create a track of data control that we can then follow," he says.
Verifiable location data is a big business. As Levin pointed out, if you look back 10 or 15 years when GPS was first used in phones, it was only used for maps and navigation. "No one then thought of things like Uber," he said.
Now, most of the apps installed by users need GPS tracking data, but the location can easily be falsified and modified using consumer-level applications and this can be dangerous in applications such as self-driving cars or even delivery services. Logistics companies and delivery companies can benefit from it, while companies that currently use GPS could use verified data to improve their services. Levin also said that ecological groups can build environmental models based on these data.
The partnership with Esri is great because the company remains one of the main places where any company goes when it has space analysis needs. The emerging technology manager at Esri, Kevin Bolger, said in the press release:
In the space of mapping and space analysis, determining the relative position of objects, and in particular moving objects, is important and we have the opportunity to pair this technology and blockchain technology as a significant step forward for Industry as a whole.
The XYO platform applications are open. The services provided by it are myriads, with a number of possibilities for start-ups to participate, including technical roles within the network such as data verification and their service. XYO tokens are needed to use the platform, which is what creates the token application. At the time of writing, the token had a circulating supply of over 5.5 billion, a symbolic price of about $ 0.003 and a total market capitalization of over $ 20 million. The high bid and low value are somehow intentional – the token will be used frequently to access the data, and it can not be competitive if the embedded costs are high because the token price is too high.
CCN was informed that the partnership with Esri is just one of many in relation to XYO in the coming months and years, with more exciting partnerships and announcements on deck.
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