Finance ICO Analysis: XYO Network
Traditional location service providers, like the common GPS system, which is a project under the jurisdiction of the United States Air Force, are now facing multiple problems regarding their operational capabilities, that are constantly being left behind as technological advancement improves by the minute.
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There are various issues with the current GPS system, including the fact that it is a centralized service, fully controlled by the United States Air Force. GPS systems can experience a single point failure and result in a non-functioning service, the signal is not accessible by underground locations and sometimes even by indoor locations, urban density increases signal multipatch, energy-intensive components are not tailored for devices with long maintenance cycles. Traditional GPS systems are also volatile against signal jamming and spoofing.
Back in 2016, during the second annual Ethereum developer’s conference in Shanghai, Eleftherios Karapetsas introduced the concept of Proof Of Presence and its functionality. Today the concept is an Ethereum backed protocol called Proof of Location and it’s being used by a dozen of start-ups who are striving to disrupt the monopoly of the location tracking industry.
One of these innovative projects would be definitely XYO Network. The network they are trying to build will be composed of “Sentinels”, (devices that serve as transmitters) communicating with “Bridges” (location data transcribers) and then “Archivists” (databases), concluding to the Diviners (oracles) that give you the answer to your request.
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For example, you own a car rental company and want to review the location of all cars at your disposal. You simply make your request to the Diviner who then collects the data gathered from the Sentinels, transports them to the Archivists through the Bridges. A complex mechanism compares the data gathered at the Archivists as well as data from other Diviners to ensure the accuracy of the answer you will be given. Once the answer is the best answer, meaning that it is as accurate as possible according to the XYO Network, the answer to your query will be revealed.
XYO is not your ordinary blockchain-powered start-up. They are present in the industry since 2012, from when they managed to spread 1,000,000 beacons all over the globe. Now they are planning to deploy over 1,000,000 more microdevices, satellites, and sticker-based trackers (using RFID technology) and they even plan on expanding their Network to Mars.
From Location tracking to IoT and Mesh networks, XYO Network’s use cases affect multiple industries including eCommerce, Medical, Rental Car Agencies, Commercial Airline Logistics, Insurance Agencies, National Security Agencies, and Drone Package Delivery Systems, among others.
Token
The XYO token, which is the network’s native currency, is a utility token used to purchase ultra-specific geo-location data, exchange, and/or sell and buy location data, as well as rent your tracking information to the XYO Network in exchange for XYO tokens.
You can use the tokens to purchase various products and services coming with the XYO platform or translate them into major cryptocurrencies like Ethereum (ETH) from where you can find a gateway to Fiat currencies or other cryptocurrencies respectively.
The total amount of XYO will be determined after the token sale since any unsold tokens will be burned and not additional XYO tokens will be generated in the future.
The starting price will be equal to 1ETH = 100,000 XYO, while the price per unit will be maxed at 1ETH = 33,333 XYO. The exact price per XYO is yet unknown since Ethereum’s price is constantly shifting. One thing is certain, and that is XYO Network’s goal to reach a capital of $48 million at the end of the public sale.
Team
Arie Trouw (Founder & Architect), who started writing software with his TRS-80, moved from Atari to Apple and Microsoft during his early career days. He is an experienced serial entrepreneur with multiple companies under his signature raising 8-digit capitals.
Scott Scheper (Co-Founder & Head Of Marketing), started working for Arie Trouw back in 2009. In 2013, he launched Greenlamp, a programmatic advertising agency focusing on direct-response media buying. In the first year of its operation, Greenlamp managed to generate over $12M in revenue.
Markus Levin (Co-founder & Head of Operations) has over 15 years of experience in building and managing several companies around the globe. He is the one who utilizes the talents of every employee and gets the best out of his team.
In the board of advisers, we can find among others Tom Kysar (Advisor – XYO token market economy), who is the operations lead at Augur and has ties with Ethereum, and Raul Jordan (Advisor – XYOMainChain Scalability) who received a Thiel Fellowship after dropping out of Harvard.
In general, the team looks solid and professional, with a board consisting of over 20 people all specialists in various spectrums of the location tracking industry, blockchain technology, and information technology.
Verdict
Proof of Location, in general, is a very disruptive concept and within a year we already have individual companies with their own platforms based on the initial protocol.
XYO is not a newcomer when it comes to technological marvels. But they are the first to integrate a big spectrum of location and information services all into one single blockchain-backed platform.
The XYO Network consists of a series of physical, digital, hardware and software products and services that will eventually be able to communicate with each other using the XYO Network.
Of course, it would be a challenge to compete with the U.S. Army, the provider of traditional GPS systems, but we already have seen what blockchain did to banking and even governmental institutions, this shall be not a problem for XYO if considered with accuracy.
Risks
From an investor’s perspective, the following facts are important to consider when weighing XYO Network:
- XYO Network plans on competing with one of the most difficult players in the industry, the U.S. military. Of course, Proof of Location is a unique innovative concept that will alter the way we interact with location services in the future, but it won’t be an easy task to fulfill. -2
- Establishing a complex network relying on multiple concepts including Internet Of Things (IoT), Mesh Networks and location tracking services can be challenging and really difficult to maintain. XYO must prove itself before attracting serious investments. -2
- The XYO Network is not only highly complex, but also very expensive and requires a significant amount of time to be deployed. Therefore early investors will have to be patient in order to see some interesting growth generated by their initial investment. -1.5
Growth Opportunity
- On the other hand, Proof of Location as a concept is one of the most revolutionary ideas not only in the sphere of blockchain but in disrupting technologies overall. XYO Network among other start-ups who are focusing on this new protocol might be exactly what we needed to escape the U.S. military’s “Big Brother”. +1.5
- A real-time location tracking system that relies on multiple systems, hardware and software is going to be absorbed by the logistics industry in no time. People could track their physical or digital assets in no time with extreme accuracy that will indicate not only the exact location of the desired package but also its travel/exchange history, current condition and more. +3.5
- The XYO team is consisting of professionals who have proven themselves at work in the previous decade generating accurate business plans that led to extraordinary profits. +3
- The Proof of Location concept is backed by various industrial companies and individuals both in the blockchain and traditional markets scene, including Ethereum’s own Vitalik Buterin. After all the concept was created by young Ethereum’s engineer, Eleftherios Karapetsas. +2.5
Disposition
As previously mentioned, XYO might sound like an ideal futuristic project, but it will require a lot of time, energy and funds in order to achieve its goals.
Traditional ICO investors usually invest for fast profit within six months or a full year. XYO is definitely not the solution for these investors, as it might need more than a couple year to grow into a fully developed and functioning product.
The closest project to XYO that we could think of would be IOTA, without a doubt. It’s a long-term (if not the longest) opportunity, but it requires patience and understanding.
A score of 5 out of 10 is reserved for XYO Network, based on present facts.
Investment Details
- Type: Crowdsale
- Symbol: XYO
- Platform: Ethereum
- Pre-Sale: Mar. 20, 2018
- Public Sale: May. 20, 2018
- Payments Accepted: ETH (KYC Required)
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