XY Findables, the company behind the crypto token XYO look to be going places, quite literally in fact, with the group looking to send up their first satellite at some point from Q3 in 2019.
The satellite could be considered just a small part in what they are trying to achieve, even if it is being sent up through one of Elon Musk’s SpaceX rockets.
XYO are looking to disturb location data. Currently, everyone with a phone uses GPS which is somewhat of a monopoly and is owned by the US Air Force. It’s also subject to being jammed. XYO will be able to pinpoint location with extreme accuracy as it relies not only on satellite but also others within the vicinity who would verify the location.
This means a number of things for those of us who haven’t a clue about technology. For one, it means products purchased can be delivered right to your living room and you may not have to pay for it until it is. (stats show that millions of £’s are lost by customers having their purchases stolen when left on their doorstep). Other use cases could be your lost dog or cat running off, or even the delivery of highly important medicene between hospitals or between hospitals and recipients.
XYO already have over 1 million verifying beacons throughout the World to help them locate, but with other hardware being released and an App too (currently in Beta), the World of location data will certainly be changing, and fast.
It is understood too that those with XY mining kits will also be able to earn by sharing location data with the XYO mainnet. Although this is an area still to be fully tested it can be assumed the following way and with the following example.
Sally lives in the UK and buys a US based hairdryer from the United States. She wants to know the exact whereabouts of the product from start to finish so pays an extra £1.50 for XYO location data.
The hairdryer company change a % of that £1.50 into XYO tokens (for the benefits of maths we’ll call 1 XYO = £1).
The whole trip from the US to Sally’s house will pass through 10 verification beacons (as an example). Each time someone with a verification device (such as the mining kit) verifies its location they receive some of that XYO, in this case we’ll split the 1XYO into 10 so 0.1 XYO – this means that not only can Sally see exactly where her product is at any given time, but also that those verifying the location are also paid.
It should be considered though that the verification devices would be in their thousands so you won’t be earning much from one package. There will of course be millions of packages every year that need verifying so you get where we’re coming from here. Also, it’s not known whether XY would take a % of XYO for themselves which we think would be likely and fully understandable.
XYO is definitely something for the long term and there is serious excitement surrounding it, particularly for those who entered in at ICO prices, their Gamma sale, and those who were lucky enough to buy XYO cheaply on the few exchanges it is currently listed on.
But how much can the XYO token price go to? That’s a question many XYO holders are asking themselves. If based on Sally’s example, and you ignore the circulating supply versus market cap, then you’d be wise to check your local postal services to see how much they charge for guaranteed deliveries. Millions pay good money to know that a product is most likely going to reach it’s destination, so millions would likely pay good money to know the exact whereabouts of their product at any given stage, and to know the end destination is exactly the end destination they wanted, and not the neighbours’ doorstep.
The current market cap is just under $30m USD so it’s fair to say no whales have bought in yet, and by whales we mean those who spend $200m on coins whilst waiting for the kettle to boil.
XYO shall be making an announcement shortly about going live on a new exchange which should boost further awareness and on top of newly released partnership deals with the likes of Esri, FedEx, Run2Play amongst others, XYO, like their satellite, will be going up, and staying up.