XYO Network Successfully Completes World’s First Relative Location-Based Smart Contract Execution
Summary
SAN DIEGO--( BUSINESS WIRE )-- XYO Network , the technology bringing blockchain to the real world, today announced that following months of integration testing, the team has successfully completed the first live working demo of its decentralized interaction-verification oracle utilizing smart contracts to initiate a transfer of Ethereum when two XYO devices interacted in the real world.The demonstration earlier this month at the recent first-annual Spatial Summit in San Diego amazed nearly 700 audience members, as a drone carrying an XYO device landed on stage to initiate the automatic transaction of cryptocurrency.The drone-based demo of location validation by XYO Network is the latest in a series of powerful and technologically significant advances from the company, including the following recent developments:MainNet Launch - Announced in an exclusive to attendees at the recent Spatial Summit on November 9th, the XYO Network is now live.“We’re ecstatic that our live, drone-based test was a complete success, from start to finish,” said Justin Fortier, Head of Consumer Products with XYO Network.