Registry keeping solutions is quite an interesting field that can be solved with blockchain. Immune to tampering, immutable, transparent and private, the blockchain offers many of the qualities we need in keeping track of identities, transactions and operations and data in general. Many industries can profit off of these features. Interestingly enough, Aeron identifies Aviation as one of these industries.
On their website, they describe some of the key issues that arise from poor record keeping, like human errors and technical problems that are not documented properly. For example, pilots may lack the experience they claim and flight log records may be forged. Flight hours of aircraft operators are underreported; flight schools use unsophisticated tools to manage records and fleets.
So, if you have flight anxiety, here’s a fun fact for you. The main reason for aviation accidents is human error, and the poor record keeping we were talking about earlier play a big role here.
Let’s look at the market Aeron is looking to secure a spot in. There’s a high level of anxiety when it comes to flying. If you just booked a flight, know that the air travel companies are just as concerned for security and safety as you are. Accidents are absolutely bad PR and nobody wants to see planes raining down from the skies. Truth of the matter is such incidents are rare and flights are considered one of the safest types of transportation. According to the Aeron presentation, yet 3302 accidents related to air transport happen every year. Aeron plans to bring that number down, eliminating one of the issues – bad record keeping. When they do happen, they cost the agencies millions of dollars, not to mention the blow to their reputation.
The product addresses directly these companies, who can keep track of activities of their huge operations. More importantly, they are directed to authorities who can verify companies easier.
„In case of any mismatch in data between Aeron data source with either the ATC, pilot or operator, aviation authorities can quickly detect and eliminate the problem. Aviation authorities can also detect any pilots operating with an expired license”, the team explains on their official website.
Aeron stores a data hub comprising on important information on flights and pilots. The pilots and companies regularly upload the data that will then be available to consumers and air traffic control, maintenance and operators.
Aeron introduced ARN, a utility token for their platform. For the ICO, they will issue 100 million tokens. 20 million tokens will be premined and sold now and another 40 million will be frozen for sale at market price starting 2018. Coins can be purchased for bitcoin and ether, at the price of 50 cents for a token”Once the sale is completed, the token will be listed on major cryptocurrency exchanges to ensure liquidity”, they explain on their website. So far, they say they had confirmation from Binance and HitBTC. “Aeron utility token will enable a thriving, self-sustaining ecosystem around the database and token holders”
Users will be able to book flights using ARN and Aeron services.
They started research for the project in May 2016 and developed a concept for the ecosystem in august. They already have Aerotrips.com, a platform with some ranking in Russia. According to Alexa, the platform does not yet have great popularity. So far, they also built a global flight school database and had some public presentations.
The sale is scheduled for the 1st of September.
The team is based in Russia, with some consultants in Europe, Cyprus and the US.
- Global aviation market research
- Concept development for Aeron ecosystem
- aerotrips.com consumer portal development
- Building global flight school, AM and FBO database
- aeron.aero public presentation
- Aeron token sale
- Pilot and Company applications MVP development
- aerotrips.com consumer portal for aviation launch
- Pilot and Company applications blockchain integration
- Lobbying with Aviation Authorities
- Pilot and Company applications public launch
- aerotrips.com integration with blockchain
- Token payments for aerotrips.com services
- Movement of database to decentralized and encrypted storage
- Aviation Authority portal development
- Aeron API public launch
- Data Hub for ATC data automated processing development
- Aeron Salesforce integration
- Business development EMEA: negotiation & deals with Authorities
- Aeron Membership program
- Big Data research launch
The blockchain technology has amazing potential in registry keeping across all industries and institutions. There is still an issue of adoption from companies of this technology, which is probably more important in the early stages than listing the currency on exchanges. What is interesting is that the team has some experience in the air traffic industry overall. The CTO Nadezhda Barkanova is a traffic management engineer.