13 The Spectrum Network | Blockchain technology

The Spectrum Network

SpectrumNetwork is a GIS based hybrid blockchain system, designed in line with the ERC20 ethereum algorithm, to harness the dApp functionalities. SpectrumNetwork has designed SPEC utility tokens; which comprises spatial signatures along with a proof-of-location module: to bridge a recurring gap between geospatial data collation and cost management. In casual contexts, geo-refrenced vector quantities of the earth are now more to say, in a decentralized cryptographic token.

Geospatial Technology has been all about Data, Data and Data, exclusively controlled by centralized entities, all with proprietary rights. The future of geospatial technology is not in the centralised control of spatial data. An unequivocated access to spatial data is of crtitical importance to ensure openness. By harnessing SpectrumNetwork"s hybrid GIS blockchain technology; ensuring the availability of valid spatial data will be possible and verifiable by a smart contract. In totality, the need for middlemen or central control will be gone. This will ensure an autonomous control of spatial data, cheaper acquisition, resilience, accountability, elimination of fraught, errors and inconsistencies; while still preserving data integrity and maintaining the geospatial bond within blockchain architecture. Spatial Data tokenization in form of SPEC tokens, will create an open decentralized ecosystem with a hybrid infrastructure. This will thereby open up the GIS Market globally to a broad pool of trust and efficiency.

The two key characteristics of a blockchain are trust and immutability. This is lacking in centralised geospatial databases and its applications, since data as well as transactions are prone to falsification. For example, in urban land registry, there is usually no established trust and a need for openness. The weakest links, in the form of data record officers, centralized geospatial data repositories and spatial-data generating bodies; are prone to corruption. These middle men will be eliminated with an implementation of a hybrid blockchain system, this is what SpectrumNetwork offers. The potential of SpectrumNetwork's hybdrid blockchain module in a geospatial ecosystem, will generally enforce a consensus agreed upon trust, verifiable through a smart contract; making immutable blockchain tools available for geospatial data distribution via SPEC tokens.

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