XY Oracle (XYO) - GBP

What is XYO?

XYO is a DePIN ecosystem of consumer software, developer tools, a decentralized network, and digital assets. XYO facilitates and incentivizes the aggregation, validation, and use of decentralized data. Built around the XYO token, the XYO ecosystem accumulates and circulates data such that individual and organizational participants in the ecosystem retain control over their own data - also known as data sovereignty - and can be rewarded for the use of their data with the XYO token. Data use is incentivized by providing immutable, tamper-resistant, blockchain data for a wide variety of possible uses, including AI modeling, metaverse applications, and data analytics.

XYO works by incentivizing users to participate in data submission and collection through various means, including the accumulation of digital assets like the XYO token and a variety of services provided by XYO. Anonymous data submitted this way is then permanently and immutably made part of XYO’s decentralized data network, and the user may opt out from submitting further data at any time. XYO and third party developers can then tap into that data using XYO’s suite of software and tools, including SDKs, documentation, and APIs.
Transactions to receive data are paid in XYO tokens, maintaining the economic cycle within the system.

What are the potential use cases for XYO?

XYO serves as an enabler of DePIN-derived, sovereign data for AI, metaverse, and a wide range of data analytics applications, fostering collaborative ecosystems where participants willingly contribute data and receive compensation. Its aggregation and analytics capabilities
extend across diverse domains, empowering organizations to derive meaningful insights from complex datasets for informed decision-making. XYO's DePIN infrastructure facilitates the use of both digital and real-world data streams for insights into various phenomena, informing applications ranging from urban planning and environmental monitoring to highly localized human mobilization for promotional purposes.

Who created XYO?

XYO was introduced in January of 2018 as a DePIN IoT project of its parent company, XY Labs, Inc. Subsequently the XYO Foundation was founded. XYO co-founders Arie Trouw and Markus Levin recognized a growing need for a trustless, decentralized location oracle. he XYO token (ERC-20) was released in March of the same year. In February of 2022, XYO announced an expansion of its original concept, becoming capable of aggregating and analyzing a wide and flexible range of heuristic and digital data.