Foam’s mission is to “build a consensus-driven map of the world that can be trusted for all applications.” Their Proof of Location protocol utilizes radio technology and the Ethereum blockchain to provide secure location services. Users, called “cartographers,” act as beacons to provide anonymous data to a decentralized network. Foam incentivizes users to share their data through their forthcoming utility token.
Foam’s protocol is a unique offering that improves upon the current leader for location services, GPS, in several ways:
GPS is both easily spoofable and centralized, utilizing government owned satellites to triangulate location data. This makes the technology vulnerable to malicious parties.
Foam has a consensus driven approach where users become beacons that share their data with the network, the more “cartographers” that share their location, the more accurate the data becomes. Foam also improves upon GPS’ accuracy issues-while satellites may have a hard time penetrating indoors or underground, this is not a problem for Foam’s radio technology.
Foam occupies the virtually unexplored space of location services on the blockchain. Foam’s closest competitor is XYO, a company that uses GPS and Bluetooth based tiles to provide accurate location services.
There are three elements to Foam:
Crypto Spatial Coordinates – The standard for identifying coordinates. CSC’s combine Ethereum smart contract addresses with a physical space location. The addresses are immutable and verifiable both on- and off-chain. This interaction allows the addresses to be accessible to decentralized applications.
Spatial Index and Visualizer – A visual blockchain explorer. It allows users to interact and engage with spatial data. It can also serve as the front-end interface for dApps that need to visualize smart contracts on a map.
Proof of Location – Protocol that allows users to verify that they are at a certain place at a certain time. Users are always in control of their data, which can be shared at their discretion.
FOAM was founded by three people: Ryan John King (CEO), Kristoffer Josefsson (CTO), and Katya Zavyalova (CCO). Kristoffer Josefsson was an early member of Consensys and a founding member of BlockApps, a company that streamlines dApp launches. Ryan previously worked as blockchain consultant while Katya is new professionally to the blockchain space.
The project has received accolades from cryptoasset space leaders such as Simone de la Rouviere (Consensys) and Matt Condon (lead maintainer of Ethereum library OpenZeppelin.
Foam plans to release a crypto token later this summer. The FOAM token will be a utility that incentivizes users to contribute accurate location data. Users can enter into Token Curated Registries – community driven lists where users can stake their tokens in order to submit accurate crypto-spatial coordinates. Users can also stake tokens to “Signal”-A kind of bounty system where users are incentivized to report location data for different reasons, such as less well served areas.
Token sale details have not been released, but Foam is listed as a Token Fondry project.
Symbol: FOAM (ERC-20)
Whitelist: Token Fondry
Crypto-Spatial Coordinates: https://blog.foam.space/crypto-spatial-coordinates-fe0527816506
Spatial Index: https://blog.foam.space/the-spatial-index-9793f42c46c8
Proof of Location: https://blog.foam.space/introduction-to-proof-of-location-6b4c77928022
Interview with Ryan and Katya: http://pinupmagazine.org/articles/new-power-generation-foam
XYO vs. Foam: A First look: https://steemit.com/blockchain/@o1o1o1o/location-networks-xyo-vs-foam-a-first-look
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