Let’s Talk About How Spectrum Network Blockchain Will Disrupt Geo-spatial Information Industry
Since the bitcoin brought the goodness of blockchain into the world on 3rd of January, 2009. People have found the solution to traditional system of sending money across the world. No one imagined that we would transact without having to pay middlemen, no one saw it coming that we would have a trustless transaction, that all transaction would be permanently recorded on open ledger system. We are now living in a new dawn, blockchain is the most robust concept that is shaking and reshaping all industries. It has been speculated by experts that any business that is not powered by the blockchain will fizzle out before next decade. The world is littered with greed and injustice, at the time of first millennium economy meltdown, blockchain arrived to fight overly centralized corrupt governance.
It is the hope of the masses
Almost all blockchain resistant industries are now becoming agnostic to it, from blockchain powered phones to decentralized blogging like Steemit. It is everywhere. One of the industries that are yet to adopt blockchain is geo-spatial information industry, it is so uncomfortable that an industry that has improved how human interact with modern technologies is left in the realm of centralization. The time has come to put geographical information on the blockchain where it cannot be tampered by insignificant few at the expense of entire human race.
The military and other security forces rely on geospatial information to successfully and effectively carry out their operations. Spectrum Network is a decentralized geographic information platform that is creating an enabling an environment for all humans. According to the project whitepaper, Spectrum Network with provide geospatial management and financial activities. Users will be able to trade SPEC token for other cryptocurrencies without stress.
More Than Token & Beyond
Spectrum Network (SPEC) token has distanced itself from regular ERC-20 tokens whose only usefulness is trading and transfer of money. SPEC is specially created to align the demand for spatial location data collection and cost management. It will be used to obtain large geospatial data and store it securely on the blockchain. Part of the mission of Spectrum Network is to build blockchain that will allow creation of other geo-spatial decentralized applications.
With just any geoinformatic software, users will be able to import data using SPEC for payment. Web-GIS developers can leverage on Spectrum blockchain to effortlessly use SPEC for major projects, this will reduced cost, also, it will save time.
How Big Is Geo-spatial Industry?
In 2012, the industry size was $75 billion and it has generated revenue of $1.6 trillion, beyond GDP, it has saved USA up to $1.15 trillion in the last ten years. Geo-spatial is touching every industry that matter.
Industry Applications of Geo-spatial Data
Forestry: Australian forest managers confirmed that use of remote sensing technology ha helped them to cover 50% more areas.
Micro-watershed Management: use of geo-spatial technology has improved land reclamation, providing benefit of $458 million through increased productivity.
Transportation and storage: Spatial technologies have helped human in improving logistics, itinerary planning and route selection, vehicle tracking, transport planning, traffic and congestion management, transport operations in air and rail and intelligent transport services. In Australia only, the productivity range in 2030 will span from 1.4% to 1.58%. This is pointing to huge market potential of geo-spatial industry.
Other examples of industries that are currently benefiting from GIS are; fishing, communication, construction, real estate, mining, agriculture, oil and gas.
You may check out the project social media platforms; twitter, facebook, medium, bitcointalk and reddit. Also, visit project depository on github and connect with others on diacord. The team is always willing help new users via telegram group/channel.
Token is currently trading at $0.05 on Deltarelay exchange, and it will be listed on more exchanges like Lbanka and Satoshiexchange. There will only $1 billion maximum supply, only half of the token will be available in circuation.