SAN DIEGO--(BUSINESS WIRE)--XYO (Kucoin: $XYO), the geospatial cryptonetwork, today announced its partnership with Enigio Time, a leading global provider of integrity and traceability for enterprise data and digital processes. The partnership will leverage XYO’s Internet of Things (IoT)-based data and proof of location capabilities, and Enigio Time’s blockchain-based timestamping and archiving technology. The combined solution will ensure that data and information throughout each step in digital processes can be tracked, verified and added to the blockchain, essentially providing an external validating source for key documents, with many industry applications.
Enigio Time is a Stockholm, Sweden-based digital information company focused on creating solutions to confront and properly account for the enormous amount of digital data constantly being created and revised. Since much of the digital data does not have actual physical attributes to help guarantee traceability or safeguard against manipulation, it has become increasingly harder to judge what is true and what has really taken place. Enigio Time’s solutions create an independent record that cannot be manipulated, and which confirms whether any given step in a digital process has occurred, and if so, when it happened and in which order the steps occurred. In a sense, Enigio Time has created an independent, blockchain-based “oracle” resource.
“The XYO team has developed impressive technology and a robust network, and we see a natural opportunity for integration with what we’re doing,” commented EnigioTime CEO Göran Almgren. “By adding a proof of location component from XYO to our data integrity, validation and archiving solutions, we’re creating an even stronger value proposition for our business customers in Financial, Government, Legal, Real Estate, Shipping and many other document- and transaction-heavy industries.”
Location verification is the first heuristic which XYO will make available for use by Enigio, who will use the data to augment existing time-stamping capabilities and add another layer of validity to the blockchain-based archived record. In time, Enigio and other partners may also draw upon other heuristics XYO can make available, such as temperature, speed, light and more.
“This partnership with Enigio Time is a clear value-add for our collective customer base, especially for those with important ‘documents of record’ that need to serve as the single agreed-upon accurate resource for transactions and record keeping,” said Arie Trouw, Co-Founder and CEO at XYO. “We are happy to add our leadership in proof of location to the important work our friends at Enigio are doing.”
Since 2012, we've developed trusted IoT technology that connects the digital world with the physical one. In 2018, we 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, our 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.