XYO Debuts Killer “COIN” App; Now Available for Geomining Kit Owners on iOS and Android
Summary
The COIN app will allow users in proximity of any activated Geomining Kit to collect digital assets in exchange for providing location-based data to the XYO network. COIN is one of the first apps that allows an end-user to travel in the physical world and collect digital assets that can then be transferred, withdrawn, or stored. To earn XYO digital assets, users simply download and install the app, set up an account, and head to an unmined location in the real world, then geomine with the push of a button. Once a user has collected their digital assets, they can choose to keep them in the app, or they can withdraw and store them in an external wallet once the minimum amount is reached. By combining location beacons with IoT and mobile devices, the XYO ecosystem plans to deliver the verified coordinates and data needed to execute smart contracts, run smart cities, foster financial transactions, and power a legion of location-centric applications.