XYO Network Announces Esri Partnership for a Blockchain Geo-Location Data System
XYO Network, the technology behind decentralized location network, has announced an apparent alliance with Esri as a move to bring a blockchain-based location verification function. Esri, a global-leading location intelligence company, is one of the oldest providers of geographic information system (GIS) and mapmaker, with its founding back in 1969.
In the press release, Esri's Emerging Technology Practice Lead. Kevin Bolger explores the potential that comes with the partnership. He says:
“In the mapping and spatial analytics space, determining the relative location of objects, and particularly those in motion, is important, and we have the opportunity to pair that ability and blockchain technology as a significant next step for the industry as a whole.”
The partnership with Esri remains vital for XYO Network as the firm remains a good partner for companies with special analytics needs.
The collaboration came about after an Esri employee hired by XYO recommended the former as an excellent option. The XYO network wants to create a data network for clients which Esri works to access the data.
With the agreement, Esri's ArcGIS will be the product using the XYO Network. ArcGIS is the enterprise-level mapping product providing unique capabilities for the application of location-based analytics to business practices. The service currently serves over 350,000 organizations. The press release reads:
“The collaboration opens the possibility for ArcGIS users to enable increasingly important capabilities such as tracking cars in emerging “smart cities,” clarifying the often dramatic geographic changes based on natural or man-made disasters, and many other location-based applications and scenarios.”
Markus Levin, Co-founder of XYO Networks, also mentioned a possible use case of the technology in gaming. He cites the repeat scamming of rare Pokémon within the Pokémon Go game. Combining XYO's network to Esri's ArcGIS could stamp out such activity by having blockchain technology provide ways to disable dishonesty in such gaming ecosystems.
Additionally, the review market could potentially gain from XYO's technology. Since most of the businesses rely on online reviews for ratings, it is quite hard to establish authenticity. With the technology, a reviewer would have to legitimize their claims by proving their location at a given time.
A fundamental cause of this is the recent developments in apps in need to use GPS location data. The location can be modified or spoofed using the consumer-grade applications, and this poses a great danger to applications such as delivery services or an autonomous vehicle. Firms can benefit from the current GPS development emerging from XYO network and Esri. Now, as Levin points out, valid location data is becoming big business by the day and judging from the past GPS is no longer reserved for maps and navigation alone. “No one was thinking about things like Uber back then, “he said.
The XYO platform requires XYO tokens to use in exploring some possibilities in the network such as data verification and serving. Over 5.5 billion tokens are in supply with each having a value of $0.003 and an overall capitalization of more than $20 million.