SAN DIEGO – XYO (Kucoin: $XYO), the geospatial cryptonetwork, today announced a strategic partnership with BULVRD, the crowdsourced global mapping and road reporting app whose users earn cryptocurrency tokens while driving. The partnership makes use of the Internet of Things (IoT)-based data and proof of location capabilities from XYO, and BULVRD's Ethereum blockchain-based community mapping and road condition reporting ecosystem, currently live in more than 20 countries. The combined solution will improve condition and incident reporting through richer, trustless data sets, while creating a more effective experience for users.
BULVRD is creating a micro-economy on the Ethereum blockchain centered around a real-time traffic-aware navigation app. The app rewards users with tokens and digital collectibles for driving and making automatic reports on road conditions such as hazards, traffic and police activity.
The location verification data delivered by our partner XYO is a natural value-add to what we're doing with the BULVRD Drive app, commented BULVRD founder and CEO David Hodge. For navigation apps, crowdsourced data–a significant part of the process–is often tainted by ˜spoofing' or even social engineering. Through this partnership with the XYO team and the multi-point independent validation of conditions and incidents, we can easily sidestep those issues that will continue to challenge the other competing solutions.
The XYO and BULVRD teams are working closely, combining augmented reality, AI, machine learning and location verification to validate and improve the quality of rich data being reported. Users will earn cryptocurrency for in-app actions and contributions.
This partnership with BULVRD is an excellent use case and opportunity to showcase the value of independent consensus-based location data which we can make available, said Arie Trouw, Co-Founder and CEO of XYO. We're glad to add our expertise in the location verification space to what the BULVRD team has built out. Everyone should benefit, and we look forward to expanding our work together over time.
Since 2012, with a Dataist focus, XYO has developed trusted IoT technology that connects the digital world with the physical one. In 2018, the company unveiled the XYO Network, the world's first geospatial blockchain network backed by cryptography. With more than 1 million location-verifying beacons around the planet, XYO technology rivals the GPS network, and radically transforms the world's leading industries. Partners include mapping giant Esri, FedEx Research Institute, Re/Max Mexico and Spaceflight Industries. XYO Advisors come from leading organizations including National Geographic and the World Economic Forum. For more information, visit us at www.xy.company and https://xyo.network.