Carlsbad, CA-Based Offices to Power Newest XYO Technology and Innovative Real-Life Applications for Fast-Growing Company

SAN DIEGO — (BUSINESS WIRE) — December 17, 2018 — XYO Network, the technology bringing blockchain to the real world, today announced it has officially opened XY Labs, a Carlsbad, California-based center of innovation for XY - The Persistent Company, parent company to XYO Network. The new office and debut of the Innovation Lab is the latest in the company’s strong growth and physical expansion over the past year.

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Since January, the company has grown from 17 employees to the current 76, with teams based at the San Diego headquarters, a Northern California team based in Sacramento, and now, a third innovation-focused team in Carlsbad. The rapid employee growth across departments including Engineering and Development, Operations and Marketing, firmly supports the company’s aggressive approach and business roadmap.

Working from the company’s newest location, the Carlsbad-based team will focus on the most practical, seamless and innovative use cases and decentralized apps, or dApps, to make use of the cryptographic blockchain network that is XYO Network. Much of the initial focus will be on developing Geo dApps, or location-based dApps. And true to XY and XYO company culture, at XY Labs there is ample creative leeway, time and freedom, and a strong sense of responsibility to create radical innovations that both endure and add value.

Current employees working from XY Labs have powerful backgrounds in engineering and development, and with a focus and experience in rapid prototyping, device interaction, application development, and full fledged consumer product development.

“We’re thrilled to open up XY Labs with our core team in place, and we look forward to seeing what develops,” said Scott Scheper, XYO Co-Founder and CMO. “This is where we expect to create some of the most impactful technology and solutions that we as an organization roll out to our community.”

About XYO Network

XYO Network is an effort to create a vast, geospatial, blockchain-powered location network currently under development with the goal to provide accurate, certainty-driven location data on everything from cars to smartphones. By combining location beacons with IoT and mobile devices, the XYO Network ecosystem plans to deliver the verified coordinates and data needed to execute smart contracts, run smart cities, foster financial transactions, and power a legion of location-centric applications. For more information, please visit https://xyo.network.

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