XYO Network is now collaborating with one of the world’s oldest and most established geographic information systems (GIS) in the world. The move is simple; Esri wants access to the data that the XYO Network is collecting, while XYO wants access to Esri’s clients.
In essence XYO Network is a blockchain based GIS, which includes an Ethereum token (XYO) and its own blockchain network. This product will be integrated in Esri’s own ArcGIS system, which is a ‘premier enterprise-level map-providing product’. This system is servicing 350 thousand clients worldwide.
With XYO’s blockchain technology it will be able to remove GPS-based fraud. For example, finding rare Pokémon in Pokémon Go without ever leaving the house, or leaving a restaurant review on Yelp without ever visiting. Their system should also work in areas without GPS access, because it measures the relative distance between objects.
Verifiable location data is a big market with lots of growth, you only have to look at Uber to see its potential. XYO Network partnering with Esri is therefore a major move. Especially because Esri is a go-to brand for corporate businesses.
The announcement of the partnership had a significant influence on the price of XYO. It went up from $0.0036 to $0.0047.
Also published on Medium.