Picture Above! The XYO Geo Mining Kit, which every new XY Equity Investor gains access to purchase after becoming an XY Shareholder.
Located in the heart of downtown San Diego sits a collection of genius math freaks, hardware hackers, creative artists and brilliant minds.
Charlie Shrem, Bitcoin pioneer and founder of the Bitcoin Foundation, sits on their board of advisors.
CNBC called them "a perfect enterprise play for Amazon," and they grew even closer to the e-commerce juggernaut by joining the AWS (Amazon Web Services) Partner Network.
Their mad scientist hardware hacker holds 3 US patents and helped grow a small startup into a $100 million business.
One of their developers is just 19-years-old and got the attention of Fortune 500 companies when he was only 12.
Another previously sold a company to Square, one of the world's leading payment processors.
They've made a big splash overseas in the Chinese, South Korean and European markets. They've even been featured in massive Chinese Publications, including Forbes China.
And yet, few know about this growing tech company building the world's first decentralized location network powered by the blockchain.
That is until now thanks to a core group of our team being behind XYO.
But we're not excited about XYO for that reason alone, and here's why...
Unlike some blockchain projects out there lacking any real substance, XYO Network was started by a location hardware business called "XY".
Since 2012, this San Diego-based company has built over 1 million tiny location beacons that help you find and track your lost items.
What the brilliant minds at XYO are doing is
bridging blockchain with the real world by tapping into these location beacons.
The result is the world’s first location-based, trustless, decentralized oracle network that isn't reliant on GPS, which costs American taxpayers a staggering $2 million per day.
HOW THE XYO NETWORK WORKS
In the world of blockchain technology, a concept exists called an "oracle". An oracle is an off-chain data source that feeds information to blockchain smart contracts in order for them to execute.
For instance, one can create a peer-to-peer prediction application that awards the winner 100 ETH after a sports game concludes if Team A beats Team B by programming it to check espn.com's API one second after the game ends. In this example, espn.com is what's called an "oracle"
The idea behind XYO is similar. Except, instead of calling out to espn.com to get the score of a sports game, it enables one to call out to the real world to get an item's geolocation!
This is a game changer because XYO enables smart contracts to call out to the real world to program functionalities like, "When item A gets to XY-cordinate (latitude, longitude), then send 100 ETH to wallet address `0x1234...`
Imagine ordering something on Amazon and not a single penny is charged to your credit card until it arrives at your doorstep.
Writer & Contributor, DECENTRIC
