Markus Levin mined his first Bitcoin in 2013 and has been captivated by blockchain technologies ever since. From then until now, we've been witness to so much change, plenty of growth, and our eyes have been opened to the massive possibilities ahead of us as we step into higher technology. These days, you can find Markus on Larry King Now, running the show over at XYO, and innovating the options we have to utilize blockchain, geospatial, and IoT technologies.

Geospatial Versus Global Positioning (GPS)

If devices are being used, the devices themselves are able to verify one another with geospatial location services, and with so many devices, we can create a map that will show whether or not your location is probable based on so many factors. GPS is incredible, as long as you aren't underground, within a few feet of accuracy. But it can easily be hacked and with a small amount of time and effort I could pretend to be in Thailand or Tokyo, with my data showing that as well. Having certainty around location data, for a business like Amazon, is a big deal.

Creating A Certainty Driven Supply Chain

The potential scale of location-based applications with this technology stretches as far as we can see right now. Let's break that down a little bit:

  • Verifiable data on damage, to an exact point in time.

  • Sensors measuring temperature, motion, and speed show us what the trip might be like for that package of coffee we ordered from our favorite seller.

  • Exact, immutable, location updates that will show us where our shipment is, and how long it will take to get to us with startling accuracy.

For retail alone, the potential to upend and rebuild a better, more accurate, more profitable supply chain network, is something retail has needed from the beginning really.

Fear Has Been Holding Us Back

We've all heard the horror stories of baby monitors being hacked or, as parents, shared the fears of students being located at school. Because of these fears, it's so important to have businesses like XYO focusing on making devices and data more tamper proof, with technology like blockchain and cryptography.

IoT Risks Are On the Rise

Internet of Things (IoT) attacks have been escalating, with over 32 million attacks detected by SonicWall in 2018. On top of that, of the 31 billion IoT devices we will have installed by the year 2020, Statista says they will come with easy to abuse or no security controls. With AI, drones, smart cities, and all of this higher technology we are adopting, something more secure is the new requirement. These risks have brought out cybersecurity firms like WISeKey, who just launched blockchain-powered ID solutions for IoT devices. And for firms like XYO to begin looking at the real solutions  at our fingertips.

XYO is the world's first geospatial blockchain network backed with cryptography. They've developed trusted IoT technology that connects the digital world with the physical one. With more than 1 million location-verifying beacons around the planet, the company's technology rivals the GPS network, and has the potential to radically transform the world's leading industries. XYO partners include mapping giant Esri, FedEx Research Institute, Re/Max Mexico and Spaceflight Industries, just to put a spotlight on the impact they are already making with these higher tech capabilities.

Should Your Product Be Connected?

Is it absolutely necessary for your product to be blockchain enabled or not? When you are building your company, or partnering, this is something you really need to ask yourself and consider as we move into these new spaces where the technology is changing and offering so much. If blockchain enabling brings more accuracy or trustworthiness to your business, then you are looking at something that can add tremendous value to your business. The value isn't in how you're doing things, it's still always going to be in what you offer.

Published on: Apr 9, 2019
The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.