Out of the countless blockchain projects launched to date, all have focused primarily on disrupting the online world.
But that changes forever, starting now...
Centralized location verification refers to institutions that charge both buyers and sellers involved in every transaction that relies on verifying a products delivery or XY-coordinate location.
Decentralized location verification centers around open protocols backed with the strong properties that blockchain technology provides (i.e. such as timestamping location heuristics), which are necessary for creating secure features like Proof of Origin.
Nearly 50% of the transactions involved in the buying, fulfillment, transaction and dispute resolution services for buyers and sellers is taken up by middle-men (which includes brokers, banks, payment systems, insurance, marketing agencies, product protection and more).
The XYO Network leverages cryptoeconomics to create an effecient market by requiring market participants to use the XYO Network Token to pay for use. This enables buyers and sellers in a transaction to pay only for the computation and location-verification execution, not overhead.
Traditional location-specific verification services (like specialized package delivery, automobile delivery and container delivery services) have upfront costs required to transact in the first place. This increases costs before participants even place a transaction.
The XYO Network is completely open and free to use, expand, and improve upon. There is no entry fee to join or use the network. It’s owned by the community and is publicly accessible to all, no matter what location or government jurisdiction a user resides.
The most sophisticated capitalists look for investment opportunities in businesses that have established barriers to deter competitors and new entrants from entering the market. Due to years of centralization, consolidation, lobbying government officials and government regulation, the biggest corporations and brokerages that rely on verifying location-specific heuristics enjoy virtually no competition from rivals. These corporate moats create a power-law distribution curve where the wealthiest corporations continue to distance themselves The rich get richer as they reap fees from consumers solely because consumers have no other option for transactions that rely on location verification.
As it stands today, consumers have no other choice but to transact using brokerages and middle-men for many transactions. Consider a used-car transaction involving between a buyer and seller of a used vehicle who do not already know one another. The buyer and seller are forced to use a used-car brokerage or service and pay exorbitant fees because they have no other option. An alternative cost is even higher. Thus, the middle-man brokerage continues to build a competitive moat that gets wider and more defensible each passing year. This all changes with the introduction of Ethereum Smart Contracts and the XYO Network.
Large corporations have an obligation to do what's in the best interest of increasing their share value; this creates controversial conflicts of interests between what's best for the stakeholders and what's best for consumers. It is to be expected that these incentives are not always aligned. Additionally, in location-verification dependent businesses and brokerages, there is internal corporate pressure to increase profit and rather than innovate to make location verification cheaper, more automated and trustless.
The XYO Network uses cryptoeconomics to create an autonomous system that benefits the buyers and sellers involved in transactions who rely on verification of location (i.e. package delivery). The rules and conditions of each transaction are governed by transparent smart contracts, which are programmed into the XYO Network. This enables buyers and sellers to trade in transactions involving location verification while replacing centralized middle-men with an open, autonomous platform.