An Intellyx Brain Candy Brief
Many blockchain projects struggle to find revenue-generating customer applications for a whitepaper-described global ecosystem, i.e. the ‘fake-hammer-looking-for-fake-nails’ problem. XYO has the opposite issue, with a bunch of shiny nails scattered everywhere, looking for the best hammers to apply them.
XYO started as an IoT device producer in 2012, designing and selling thousands of their self-reporting geo-mining ‘Sentinel’ devices deployed by companies and end-users and later, launching a related XY blockchain network for reporting and managing data from them.
The goal here is to achieve broad coverage of IoT devices reporting to their blockchain network, or other networks, as oracles. When client applications want current data on any object’s location heuristics, such as the proximity between it and other devices, ambient temperature or light, movement and vibration, or just about any data that connected devices can sense, they can call on XYO’s network for a high-confidence report of the current and historical state of that object.
We immediately see how such an edgy “DVR for the real world” as XYO CEO Arie Trouw describes it, would have no shortage of interest from companies who just want to ‘geek out’ and experiment with the technology. Since it seems like the proliferation of IoT data is inevitable, a decentralized network that incents users to enrich location data, while cryptographically preserving privacy, seems fairer than a centralized black-box authority for such a use case.
Success here means finding focused applications and delivery partners that hammer on real value today, in areas such as retail loss prevention, supply chain provenance or smart cities.
Copyright ©2019 Intellyx LLC. Intellyx advises companies on their digital transformation initiatives, and helps vendors communicate their agility stories. At the time of this writing, none of the organizations mentioned in this article are Intellyx customers. To be considered for a Brain Candy article, email us at pr@intellyx.com.
