Location data is any data point that indicates where a human is in time. This can be done through a variety of methods — you probably know about it from when you download an app like Yelp or Tinder. The app asks you for your location and you give it permission to access this information.
Typically, this is done through GPS or cell towers, which puts you within 15 meters or 50 feet of your position. But there are a lot of other ways to get location data, some of which are much more accurate, fortunately. These can include Bluetooth, iBeacons, NFC or even WiFi triangulation. They can even tell that you’re in front of product X or Y in the men’s shoe aisle of a store.
Location data has gotten hyper-accurate and it isn’t just limited to latitude and longitude — it also includes altitude, speed, and direction.
These are all things that are utilized in the Fysical protocol. Location data also isn’t just tied to your mobile phone. It can be a credit card transaction that shows you were at CVS or Starbucks at a certain time, a bus ticket or even a gym check-in.
It’s also important to know that your location data is never used without your explicit consent. This is another reason why we created the Fysical protocol so that you can see auto trails to know exactly where location data is going. You can also get paid for exactly what you provided and only with the proper usage rights that you gave that purchaser.
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Over the past few months, the Fysical team has been traveling around the world to educate people on our product and technology. Along the…
Over the last 12 months the location services market has grown substantially which has led to an influx of companies entering the space. There are now hundreds of companies that sell some form of location data. Most of the demand for location data is in marketing, but financial services, real-estate, and AI have become increasingly attractive.
The increased competition in this market has had its benefits, notably in the increased awareness of location data use cases, but the rush of companies has led to some mass inefficiencies in the market. For example, there is a clear lack of transparency on how data is generated and who generated it, with only word of mouth promises and marketing pitches to confirm a dataset’s quality.
This has stifled adoption from many leading companies that could benefit from location data, especially for companies working with AI and machine learning which depend on high quality data.
Over the last year, Fysical has been working on how we can solve these problems inherent in this growing data market, and we’re excited to announce a solution:
We’ve found there is only one way to help data buyers acquire high quality data, with complete transparency, and without placing trust in a centralized third party, and that’s through the blockchain.
Fysical is a blockchain for the location data market. It provides an open, transparent, and highly efficient way to obtain data on how humans move through the physical world.
What is Blockchain?
Blockchain is technology that offers a digitized, decentralized, public ledger of the exchange of data. Its decentralized nature means no single person or company controls data entry or its integrity, and its method “chains” together data entries so that they cannot be modified later. Blockchain provides a way for large groups of unrelated companies to jointly keep a secure and reliable record of the exchange of data.
For location data to provide value, it needs to be highly accurate, privacy compliant, and contain information about how the data was generated, and who generated it. Blockchain provides this, without the presence of a centralized authority, in a trustworthy and scalable way.
For data buyers, blockchain enables audit trails, facts about the origin of data, and therefore greater confidence in the integrity of data purchased.
For data suppliers, blockchain provides full transparency on data usage, clear ownership rights on data, and therefore greater trust in sharing data.
Fysical is a protocol
Importantly, Fysical is a blockchain protocol and remains neutral in the space, allowing any data buyer or data supplier to utilize its blockchain directly.
Fysical will continue to offer robust tools and an exchange to make it easier to buy and sell data using the Fysical protocol.
We’re excited to announce Fysical to the community and we encourage anyone interested to reach out and learn more.
Check out our Website: Fysical.org
Join our Telegram Community to chat live with the team here: https://t.me/fysical
Follow Us on Twitter: https://twitter.com/FysicalProtocol
Keep up to date on our Blog at: https://medium.com/fysicalblog
Facebook is reportedly shaking up its management team in a gigantic way today — and according to Recode, the head of the company’s popular Facebook Messenger app will now be in charge of “a new internal team dedicated to exploring blockchain technology.”
Recode reports that several prominent Instagram executives will be joining the blockchain team as well.
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See all the specifics on WEBSITE: http://www.bifrostcoin.io/
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RBI directive proved opportune for a lot of traders who used dip in bitcoin and other virtual currency prices to their advantage by buying even more and holding it in their private wallets rather
Pantera Capital Management, a hedge fund with a focus on cryptocurrencies, said in their April newsletter that Bitcoin’s (BTC) price of $6,500 was probably the low for the cryptocurrency, and that it was “highly likely” BTC’s price will reach above $20,000 this year, the Wall Street Journal(WSJ) reported Friday, April 13.
Ethereum co-creator Steven Nerayoff says the cryptocurrency’s value could triple in 2018. Ethereum co-creator Steven Nerayoff said businesses in a wide variety of industries are starting to take note of what value ethereum’s protocol could offer them. Nerayoff attributes increased usage to ethereum’s ability to process transactions more quickly and cheaply than its rival. Nerayoff said increasing interest in cryptocurrency will stimulate value for ethereum in 2018, regardless of whether it overtakes bitcoin.