Despite the fact that we came so far in exploring space, there are still issues to be dealt with in air travel. With over 100,000 flights made daily, serving over 2 million people, safety is still a major concern. Accidents related to air transport average to about 265 yearly, mainly due to human error. What if we could reduce the amount of air accidents, which are primarily the result of human errors by using the latest technology? Aeron is a project that is moving in that direction and they want to do this using blockchain and smart contracts.
Humans are the X factor when it comes to aviation safety. The main reason behind accidents involving aircrafts is human factor. From about 265 accidents involving commercial aircrafts every year about 50% is caused by pilot error and another 10% by human error “on the ground”. Apart from human factor accidents are widely caused by incomplete data: whether it came about by data intrusion or just by lack of proper background on aircraft parts, maintenance logs and so on. All of these issues can be addressed via blockchain. Minimizing these issues is essential if we are to make skies safer.
Aeron is implementing blockchain technology in such a way so that it benefits all the stakeholders in the air transport industry, be they pilots, airline companies, flight schools or regular flyers. With the help of the Aeron platform, it would be possible to verify flight logs and digitize them. As the blockchain provides immutability, there is no more scope for manipulation or corruption in the system.
Aeron will also be utilizing smart contacts and cryptographically secure databases to deliver a system which would like having an “airline in a pocket.” All of these solutions would be available through mobile applications.As an example a pilot will have an application that helps them undertake personal flight logging. Aviation companies can collect and verify data from service companies, airlines, aviation data operations and flight schools.
In a wider sense it would become possible to locate data mismatches between any Aeron data source be it Air Traffic Controller (ATC), operator or pilot, flyers or aviation authorities. Since the problems can be located quickly and early on, resolutions can be made quickly. Aeron will also make it possible for early detection of expired pilot licenses and give access to aviation school students as well as consumers to the aerotrips.com’s verified global data base. An onepager in this regard has been put out by Aeron.
After raising a million dollars in pre-sale, Aeron launches crowdsale
Aeron tokens (ARN) would be launched during the crowdsale. These tokens are ERC20 compliant and each costs US$ 0.50. The token sale would enable Aeron to raise funds for building their platform and developing the underlying technologies. Incentives are available for early investors, with more information available at the Aeron website. The crowdsale is due to end on October 23, 2017.
At the time of the launch of the ICO, it was rated 4.8 by Icobench. It may come as an interest to investors that not long ago Aeron concluded a pre sale which successfully raised US$ 1 million. During the sale Aeron announced partner with Binance, the fast growing digital asset exchange. Binance will list Aeron’s ARN token, as its first exchange platform, once the Aeron token sale event is completed in October 2017.
The Aeron token sale will allow them to raise funds for the future of the project. The sale also helps them diversify their investor base as people from all over the world can participate in the project. An additional benefit is that these investors can also be given incentives to promote Aeron products. After the sale is over, the investors can take advantage of the liquidity offered by the tokens through various exchanges.
There is a plan to distribute a maximum of 100 million ARN. The supply will reduce over time due to factors like lost private keys and the tokens will be of a deflationary nature. Aeron tokens are expected to be used both within and outside of the Aeron ecosystem. These tokens would be used for a myriad of purposes like subscription and transaction fee for logs, commissions on paid services, commission that arises due to intermediation and client introductions and also as a currency for purchase of aviation services and for services rendered by flight schools.
The platform will emerge in stages. Now Aeron is finalizing the portal aerotrips.com which is almost 90% ready as far as the software part is concerned. Currently it is at the beta stage and the team is testing the system together with users, including one of the partnering schools – Griffon Aviation in Cyprus. Once this is completed, the portal will be available to the general public in November 2017. They promise that pilot and company apps should be ready for launch by March 2018 and we hope to launch complete ecosystem by summer 2018, including mobile applications, booking and payment interfaces.
In the future, Aeron has plans to offer services related to aircraft maintenance as well as tracking spare parts. These efforts will lead to increased flight safety. Aeron have a plan to work with a variety of people that operate across the sectors that make up the airline industry. This will lead to higher transactional revenues and have the potential to generate income for the token holders. We can say then that Aeron is ready to soar.
Disclosure: This is a Sponsored Article.