Aeron Leverages Blockchain Tech for Safer Flights

Humans have been flying since the Wright Brothers took flight on December 17, 1903. Flying is considered to be one of the safest modes of transport that humans use.

However, accidents do and will happen. It is incredibly difficult to arrive at numbers related to accidents with and without fatalities because of poor record keeping in the early days of aviation.

Boeing publishes the “Statistical Summary of Commercial Jet Airplane Accidents between 1959-2016”, which tells us that there have been 623 fatal accidents involving commercial jet fleets and 1948 total accidents in this time period. However, this number just covers commercial aviation and not private planes that meet accidents.

According to the National Transportation Safety Board (NTSB), there were 1,290 air accidents just in 2014 and that too only in the United States. Wouldn’t it be wonderful if we could use new technology to reduce the amount of accidents that happen each year? Aeron is a project that intends to do just that by using Blockchain technology.

Aeron is making aviation transparent and reliable

The key issue to address is the human factor when it comes to aviation safety. Pilot errors, possible corruption in the flight schools all contribute towards unsafe skies. Aeron, by implementing Blockchain technology, can benefit pilots, airlines as well as ordinary consumers.

They are planning to integrate Blockchain in such a way, so that pilot logs become more verifiable and transparent. They are also going to implement solutions that will help verify flight school credentials and help aircraft operators access uncorrupted data.

All of this is possible because the Blockchain itself is immutable and records once stored can’t be changed. Combined with the deployment of smart contracts and a cryptographically secure database, Aeron would be able to eliminate falsification, create verifiable logs and basically deliver an “airline in a pocket” through its deployable applications.

The workings of Aeron are rather simple. All persons involved in the operation of the aircraft will have access to customised apps. As an example, pilots will have the functionality of personal flight logging in their app.

Aviation companies have the ability to collect and verify data from aviation schools, service companies, airlines and aircraft operators. In the wider ambit, if there is any data mismatch between any Aeron data source, it would be possible to quickly detect the problem and take corrective measures.

Aeron will also enable expired pilot licenses to be detected while giving flight school students and consumers the access to a verified global database through aerotrips.com. Aeron has put up a one-pager to explain the workings of the project succinctly.

Aeron Benchmarking

After a successful pre-sale, Aeron launches crowdsale

Aeron has successfully concluded their presale of Aeron (ARN) tokens and has raised over $1 mln. Now, they are launching a crowdsale that will help them build the platform and develop the technology required, as well as follow up with government relations and lobbying with aviation authorities.

In total, 100 mln ARN tokens will be issued. ARN tokens are ERC-20 compliant. Investors have the chance to buy 60 mln of these tokens that are available during the crowdsale.

The end date of the crowdsale is Oct. 23, 2017, and each token costs $0.50. Early investors will receive bonus tokens. Investors can visit the Aeron website to secure their bonus tokens. The ICO has been rated 4.8 by Icobench.

Why hold a token sale at all?

The Aeron token sale is their inclusive attempt to gather funds for the project.  Aeron can this way not only gather investors from different parts of the world but also incentivize investors to promote their products.

The token sale would enable participants to take advantage of liquidity as these tokens can be traded on various exchanges post the sale. After the token sale, the Aeron (ARN) token will be distributed to the buyers.

A maximum of 100 mln ARN would be released and over time the supply will reduce due to lost keys etc. ARN tokens would be used both within and outside of the Aeron ecosystem.

The tokens will be used for a subscription fee and transaction-based fee for log entries, commission on paid services, commission on intermediation and client introductions, as a currency for the purchase of aviation services and for flight school-related services.

Aeron is a project led by experts

Aeron is an ambitious project that will start to transform the aviation sector with the passage of time. The project is led by people who have significant experience in the aviation sector.

The CEO, Artem Orange is a serial entrepreneur in high tech industries like telecom and is himself an aviation enthusiast. Nadezhda Barkanova, the CTO is a qualified air traffic management engineer with 11 years of work experience and is specialized in production of aeronautical databases, flight crew training and flight simulators.

The CDO, Konstantin Gertman has 14 years of experience in consulting and market research as well as financial businesses and is the co-founder of aerotrips.com and is himself an EASA certified pilot since 2013.

With this team at the helm, Aeron has the potential to benefit from years of industry experience not only in aviation but also in other crucial technical fields that the project needs to succeed long term.

What is the future for Aeron?

After the crowdsale is over, Aeron plans to utilize a big chunk of the collected funds, up to 40 percent for research and development. Marketing and promotion will take 30 percent, technology infrastructure 10 percent, lobbying authorities, legal consultancy and administration the remaining.

They have plans to build a multi-stage platform over time in phases. In the future, they will be able to offer services related to aircraft maintenance records and even tracking spare parts that would lead to great improvements in flight safety.

Aeron has released a whitepaper that lays out in detail their token sale and post-sale plans.  

Given that they have plans to work closely with each aspect of the aviation industry, be it spare parts manufacturers, airlines, pilots and flight schools. There is a chance for investors to be able to gain from not only investing in the token sale and profiting from future increases in token price but also from the transactional revenues that the tokens will generate for the owners.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.


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