Location data has become essential to marketers, customer service providers, and other entities from the corporate and government spaces, but the market is a bit difficult to control and is facing several major problems today. Fysical, a Singapore-based company, wants to leverage blockchain technology to achieve more transparency in this industry. The startup is currently the first decentralized location data system, and it plans to expand its network by providing a multi-layered infrastructure that will be fueled by FYS tokens.
Understanding the Industry and its Challenges
Location data refers to data that relates to human movement in space. In other words, it focuses on data that relates to where a person or a group of people are at the current moment, where they have been in the past, and where they might be in the future. The future movements are generally anticipated with sophisticated prediction tools especially based on artificial intelligence (AI).
There is no way you haven’t been asked at least once by an online service or site whether you want to share your location. If you agreed to display your location, that data would be available to third parties to better understand consumer behavior or research various aspects and trends. The check-ins on Facebook or other social media sites also produce location data.
Other sources to generate location data are web surveys, Wi-Fi access (IP address is checked), credit card data, location-stamped pictures, mobile app location services, satellite imagery, and more.
Companies and governments use location data for various purposes, ranging from targeted advertising and consumer behavior predictions to augmented reality and driverless cars.
The local data market has grown at a fast pace, and the participants, most of which are centralized services, couldn’t manage to address all the issues and imbalances that showed up amid the unstoppable expansion. Thus, there are a few significant challenges in the industry, such as:
- Low transparency on data origin, which can lead to multiple data purchases and low-quality data analysis.
- Data buyers cannot be sure that the location data was generated with the consent of the consumer and in line with the privacy principles.
- It’s difficult to assess the quality of datasets, a process that requires data buyers much effort and time.
- Given that this is an emerging market, prices are fluctuating without control and sometimes are exaggerated. Data exchanges charge high fees and have become a burden for both data buyers and suppliers.
FysicalOffers a Real-Word Solution for Location Data Market
Fysical, a project backed by Fysical Technologies, is building a location data ecosystem that revolves around a decentralized marketplace with no intermediaries. The team wants to standardize the industry by encouraging a unique location data format and set of practices. Besides, Fysical aims to address all the problems that stagnate the market growth. The blockchain technology will make it sure that there is high transparency in the ecosystem, data is exchanged in line with privacy compliance procedures, it reaches a high degree of reliability, and the costs within the marketplace are acceptable for all parties involved.
At the core, Fysical is a marketplace that connects data suppliers with data buyers. Both parties will operate with FYS tokens, which are based on the ERC-20 standard as the system is built on Ethereum blockchain. The distributed ledger technology used by Fysicalwill allow atomic transactions, which guarantee that transactions between the parties occurred with high accuracy.
The use of tokens will streamline the exchange processes and will encourage potential suppliers to share their local data. The tokens will have three primary functions: decryption of datasets, payments, and rewards or incentives for data suppliers.
The Fysical team has worked on the project for over three years, and currently, the system has over 1,000 suppliers who provide more than 15 billion data points each month from about 10 million smartphones and devices around the world.
Fysical has partnered with several companies to expand its services and create better conditions in the location data market. Some of the partners are Bluzelle, Streamr, Storm, SwipeCrypto, and Airbloc.
FYS Token Sale
Fysical plans a token sale event to raise funds for the infrastructure and release its tokens to the general public. The company aims to raise 21,000 ETH, which currently is the equivalent of $18 million. The total token supply is 1 billion FYS tokens, suggesting that the average price per FYS is $0.045.
When the token sale event launches, investors will be able to buy FYS tokens with Ethereum and Bitcoin. It’s worth mentioning that US and China residents are not allowed to invest because of their local regulations.
Currently, the pre-sale event is live until June 30, 2018, with the public sale event starting on July 16, 2018, and ending on July 21, 2018. If you choose to take part in the pre-sale, you can benefit from a 10% bonus.
Here is the token distribution:
You can find out more info about the token sale event here.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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FOTON Bank Is Launching An All-in-One Crypto Banking Service to Process up to 500 Transactions per Second
The decentralized FOTON project is launching its next-generation crypto-bank ecosystem to stimulate and facilitate the use of cryptocurrency payments worldwide, as stated in the official press release published by the company.
The statement issued by the FOTON project on December 3, referred to the launch of a decentralized crypto-bank designed for multi-currency transactions featuring a built-in fiat and cryptocurrency exchange system and instant contactless payments for goods and services worldwide. The system is intended to become a stable and flexible ecosystem that will enhance scalability for services related to financial assets, exchange solutions, cards, accounting, and business/customer services.
The technology being employed in the design of the ecosystem was specifically created to tackle some of the most critical issues facing the modern banking system, as well as the widespread adoption and application of cryptocurrencies in routine business transactions. The issues the FOTON project’s ecosystem seeks to solve include overregulation, bureaucracy, centralization, system faults, volatility, legal constraints and complications related to practical use.
“We are creating the ecosystem that will prove to be the impetus and basis the crypto market needs to make the effective transition to becoming the next global banking system,” as stated by Andrey Pashkevich, CEO and Co-founder of FOTON.
“The time to buy is when there’s blood on the streets” – Baron Rothschild
You have probably heard these stories, but let me explain why they are as important today as they were 100 years ago when first spoken. Not only that, it is just as relevant today. A bit of a background first.
Napoleon was at war with England. The Battle of Waterloo, it was England’s last chance to save itself, and remain as England. Baron Rothschild was standing at his post in the London stock exchange. If England wins, the market will rally, if Napoleon wins, it will go to shit. Baron Rothschild sends his private messenger to Waterloo and demands that he return to him and report who won the war.
His messenger does so and makes it in time before the public knows anything. England had won the Battle of Waterloo. At his stand on the exchange, what does Barron do? You would think buy up stocks right? Nope, Baron starts to sell, at first slowly, and then faster. The other brokers on the floor watch what Rothschild is doing and think “Baron knows something, we lost, start selling”. Now, the brokers on the exchange begin selling in a frenzy. In the midst of all this, Baron begins placing buy orders at the bottom of the market through other brokers who do not know…
Crypto Users’ Search For a Good Bitcoin Blender Stops With Bestmixer.IO
At first glance, it might seem easy to find a good bitcoin blender that guarantees your anonymity and is secure. There are after all a number of big bitcoin mixers on the market, so how different can their services really be?
If that’s what you’re thinking, beware. All bitcoin blenders claim to have anonymous transactions – that is after all the main reason why anyone would want to use these services. This claim was however always difficult to test. How does one go about to check if these promises are indeed true?
This was the case until BestMixer.io appeared on the scene. Unlike previous bitcoin anonymization services, BestMixer.io features complete, verifiable anonymization for bitcoin. Releasing a utility named the Coin Anonymization Event (CAE) check, BestMixer.io not only proved that their bitcoin transactions could not be traced, but also showed that those of their competition could be. With this bold move, BestMixer.io not only demonstrated that they are a good bitcoin blender, but one could argue that they are the best. Even though those services that were exposed as not being anonymous have in the meantime changed their systems to prevent the CAE-check from revealing transaction detail, would you really be happy to trust them again?
BestMixer.io mixes not only Bitcoin, but also other leading cryptocurrencies including Bitcoin cash, Ethereum, Litecoin and Bitcoin SV.
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