Geon Network is a service that allows you to create virtual objects (Geons) located anywhere in the world. You can deposit funds (Geon Coins) in Geons, which can be withdrawn by anyone nearby. In order to withdraw, users need to complete the tasks defined by the Geon creator.
Matteo, a restaurant owner, uses the Geon App to create a Geon, deposits some Geon Coins in it and defines withdrawal criteria
Searching for Geon
John, a Geon App user, searches for a restaurant where he can grab a bite and collect some Geon Coins at the same time.
John arrives at the restaurant and orders a meal. He meets the criteria defined by Matteo and collects (geomines) the Geon Coins stored in Matteo’s Geon.
Matteo gains a new customer, while John gets to geomine some Geon Coins while having a yummy pizza. :D
In-app fund transfers
Geon App user can create a new Geon and top it up, top up an existing one or simply transfer funds to another user directly.
You define the tasks that must be performed before funds can be withdrawn from your Geon. Does the user have to be present at a geolocation for a specific amount of time? Do they have to provide a password or scan a QR code? These and many more options are possible with Geon.
Using the Geon App, you can transfer your Geon Coins to a supported cryptocurrency exchange or convert them directly to a fiat currency.
Geon App uses Augmented Reality (AR) technology (merging live camera feed with computer-generated 3D objects) to make it easy for a user to locate a Geon in the real world with high precision.
Geon Network’s use of smart contracts ensures that funds stored in Geons cannot be stolen or corrupted and that geomining is censorship-free (meaning no one can be prevented from geomining). Geon Network uses advanced geolocation verification methods to prevent dishonest geomining. Some of them include (not an exhaustive list): WiFi Positioning Systems for indoor localization, neighbor verification (see the Geon Yellowpaper), movement pattern recognition. To counter bot geomining, Geons can be protected with passwords, captcha puzzles, and more
Personalization and Customization
Businesses can build brand awareness by adding their logo to the Augmented Reality image of their Geon. If you’re an individual, why not add an avatar instead and share your Geon with friends? You can define many different tasks you want the geominers to complete before they can receive the Geon Coins stored in your Geon.