What is Fysical?
Fysical is the first and only code-complete, 100% functional, decentralized location data market. This is an online data market that helps you to capture a lot of aspects related to modern lifestyles. It is decentralized so as to make it even more effective. Fysical is the infrastructure for the transparent and compliant exchange of location data.
Fysical ICO Video Review
What Fysical Will Do?
Fysical allows data suppliers to share and monetize their location data, while maintaining transparency, ownership, and control. At the same time, Fysical provides data buyers with the optimal way to access and validate data and its source. Fysical directly contrasts with today’s closed systems, data brokers, and black boxes, and replaces them with a transparent peer-to-peer blockchain protocol.
Now it’s time to talk about few core problems with the current model for buying and selling location data & the solutions which will provide by Fysical in future to solve those problem.
There three different types of problem and solution explained in Fysical Whitepaper. Like Data Buyer Problems and Solutions, Data Supplier Problems and Solutions & Data Ecosystem Problems and Solutions. Here we going to talk about only Data Ecosystem Problems and Solutions.
Data Ecosystem Problems and Solutions
1. Problem: There are no trusted sources of reputations for data suppliers or data buyers.
Solution: Fysical makes datasets and historical transactions reliable and also freely accessible and verifiable by anyone at any time. This means data buyers can better determine whether a data supplier has a good reputation and quality data based on their historical transactions and datasets, quickly and easily.
2. Problem: There is no standard data format for location data. There is no standard schema for the exchange of location data. For both data buyers and suppliers, this means customization is required for every product and business transaction to be successful.
Solution: Fysical allows de facto standards to emerge for data schema, meta-data schema, and delivery mechanisms. Buyers and sellers can acquire and put data to use faster by using the same data formatters, parsers, and transmitters with several partners instead of developing custom mechanisms for each relationship. Furthermore, data can be more easily searched when it’s in a standardized format, enabling data buyers to find new and useful datasets quickly.
3. Problem: Due to a lack of reliable reputations of market participants and standards for data trade, agreements to exchange data are too slow. The time for data buyers to evaluate potential data suppliers can be well over three months.
Solution: Fysical is a reliable and trustless source for reputations of both data buyers and data suppliers and allows for a de facto standard to develop in the location data trade. Both can increase the speed at which data trade agreements are executed, making the ecosystem more efficient and enabling faster growth and innovation.
How Fysical will Work?
Fysical is a location data market. There are two core parties within Fysical: those who supply location data and those who buy location data. Both the suppliers and the buyers transact with FYS tokens.
Here How Fysical will Work:
Data Suppliers Contribute Data to Fysical
Anyone can supply data to Fysical. Third-parties also provide software tools for data suppliers, such as a mobile SDK, that make it easy to securely share data to the blockchain.
Data Access is Encrypted with a Reference on Chain
All data contributions have reference data that is stored in an encrypted manner on the blockchain and can only be accessed with the proper decryption key controlled by the data supplier.
Data Buyers can Search for and License Data
Any business, individual, or machine can freely query Fysical to buy data. Data buyers can see an audit trail of all data contributed to the blockchain that clearly identifies the true source of the data. Third-parties also supply tools for data buyers, like a brokerage, that make it easy to search for and buy data.
Data Suppliers are Paid for Data via The FYS Token
Data buyers pay data suppliers in FYS tokens. All transactions are executed using the Ethereum blockchain. FYS tokens can be used to buy datasets on Fysical right now.
In short, we can say now,
At Fysical, Data suppliers contribute data to Fysical, where they benefit from transparency of data ownership and control over its use.
& Data buyers purchase data from Fysical, where they can see an audit trail of all data contributed to the protocol to verify its source and accuracy. Data buyers pay data suppliers in FYS tokens.
So, that’s how Fysical will work.
Who are Going to be Fysical’s Data Buyers?
Any Individuals, businesses, or machines can use Fysical’s location data.
ICO/ Token Sale Details
- Pre-Sale Start Date: June 18 (10% bonus, minimum 5 ETH)
- Public Sale Start Date: July 16 (minimum 0.01 ETH)
- Symbol: FYS
- Token Type: ERC- 20
- Total Tokens: 1,000,000,000
- Tokens Issued: 400,000,000 (40%)
- Hard Cap: 21,176 ETH (~$18M USD)
- Exchange Rate: 1 ETH = 18,888 FYS
- Purchase Methods: BTC & ETH
- Limited Area: USA, China