LBS Data

On-chain data never Lie

1.LBS DATA = DID + Location + X

LBS Data is the core asset of the LBS Chain. LBS DATA consists of three parts: [1] DID (Decentralized Identifier), [2] Location coordinates, and [3] X (User Behavior). These three components form the valuable LBS data. All LBS data will be managed in a decentralized manner on the LBS chain following this format.

1-1: DID

LBS Chain only collects the user's DID (Decentralized Identifier) and doesn't need to know who the user is.

1-2: Location

Location information is the prerequisite for providing services. Collecting location information is not the goal; analyzing the commercial service demands at various locations is the key to value. LBS Chain will empower all dApps through LBS Data, expanding Web3 services.

1-3: X

X represents all user behaviors, including preferences, activities, decisions, etc. Suppose we only have DID+Location,

i.e., we know who is where. That data is valuable. But we also know who is doing what at which location. The value of this data is orders of magnitude higher. By collecting massive data and performing data analysis with the help of ML and AI, we can derive actionable business intelligence of great commercial value.

2. The Importance of LBS Data

2-1 For Developers

LBS data is instrumental in empowering the development of the LBS ecosystem, laying the foundation for Web3 local services to thrive.

2-2For Web2 Businesses

LBS data unlocks the potential for location-based personalized business services and provides valuable market insights for tailored strategies.

2-3 For Users

LBS data offers intelligent lifestyle services, ensuring a seamless experience while maintaining utmost privacy protection.

3. LBS Data Collection

3-1: Accessible to All

For mass adoption, we keep it super simple by letting users contribute their LBS data directly through Twitter and the Telegram bot.

3-2: Dapps

Users can submit complete LBS data through all Dapp applications on the LBS Chain and receive greater rewards. For instance, Yuliverse, as a Dapp on the LBS Chain, allows players to collect and upload LBS data while playing the game daily. As Yuliverse players, they receive rewards within Yuliverse and earn additional rewards from the LBS Chain.

4. LBS Data Lifecycle

Role	Responsibilities
Users	Provide LBS data via Twitter or Telegram Bot.
LBS Nodes	*Process LBS data, including Data Labeling, AI Analysis, and Verification. *Ensure the secure operation of the LBS chain, LBS data, and on-chain transactions through stable network computing.
LBS Hunters	Label LBS raw data under LBS Nodes.
Developers	Develop more web3 local service dApps based on valuable LBS data.