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Aeron – A blockchain trusted repository for aviation

Laira Rebecca

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Aeron - A blockchain trusted repository for aviation
Source: Aeron

The modern technology has been continuously bestowing various solutions for a plethora of industries across the world. It is very evident that for each and every changing needs of the industry, the evolving technology has always been the perfect solution.

However, as the time passed by, delivering highly secure and absolutely inviolable software systems has reduced. Or we could say that the technology is being misused for various unethical acts over all the communication media.

Therefore, the need of cryptographically secured databases and distributed systems are increasing on a daily basis. Blockchain technology is bringing a drastic change in the existing drawbacks of software systems and the number of industries accepting this new technology revolution is also huge.

Aeron is a team of experienced aviation professionals who are pioneers in pilot aircraft, flight crew training programs, and aeronautical databases. The firm has envisioned the future of the aviation market and understood the importance of it in the global business.

According to various statistics and studies, it is being determined that the world fleet will be increased twice in the next 20 years. By mid-2030s, the industry is expecting a major hike in the passenger fleet and freighter fleet. This would certainly lead to an increase in the number of jobs and many other key aspects of the aviation industry. Aeron has actively worked on determining the existing issues related to air travel and implemented solutions to all of it through blockchain.

The most common issues in the industry are:

  • Inexperienced pilots
  • Corrupt flight schools
  • Issues caused by the aircraft operators such as under operating the flight hours, saving huge maintenance cost etc.
  • Database intrusion and distortion of data
  • Issues in data transfer
  • Safety and security of passengers

Aeron has established a completely new level of security with the help of blockchain technology. This has brought in a complete transformation in the aircraft maintenance logs and the management of large databases.

The blockchain technology is being used to make sure that the spare parts of the plane are legit in order to produce a virtual copy of the same. This has taken the maintenance, safety, and security of the aircraft to the next level. All the data has been stored safely and is transparent to all the customers.

Aeron has developed mainly, 3 fully functional interfaces for all the entities associated with the aviation process.

Pilot Application

Pilots are provided with a mobile application (available on both iOS and Android) which helps in tracking the flight location, Fixed Base Operator [FBO] services at his destination airfield, etc.

Pilots have various other options to purchase certain services from the application and they can avail a variety of discounted services as well. All the services can be availed by paying through cryptocurrency as well.

The status of the flight can be viewed and validated against the Aircraft operator and the Air Traffic Control [ATC] data. Pilots will also get access to the historical data and statistic summaries.

Company Application

Another mobile application (available on both iOS and Android) is developed for the company employees, through which they can track the status of each flight and also track the technical condition of the aircraft, oil, refueling, etc.

Based on the technical conditions, they can assign relevant tasks to the maintenance team. Management of aircraft bookings and all the other company data can be reviewed and analyzed through the app.

Aerotrips.com

Aerotrips.com is a web portal for all the passengers. This user-friendly interface lets the customers select from various available options to book the flight, get best offers on flight booking, avail demo flights around a certain location, etc. The flight bookings can be done online with fiat or cryptocurrencies. 

They also have the option to confirm if the pilots with flight logs are verified by Aeron solutions. All the passengers can submit a report or feedback of their previous flight.

Working of Aeron

Working of Aeron

In Aeron, the highly increasing number of aircraft and licensed pilots operating worldwide have managed to be based on the blockchain technology. All the above-mentioned details are tracked on an online system which is built on Ethereum blockchain. The team has implemented a self-sustaining ecosystem around the database and token holders featuring integrity, reliability, and easy validation.

Aeron believes in aviation safety, hence, they store all the logs on the blockchain and make it available for public audit. Both authorities and passengers can be confident that a pilot actually has the experience claimed. The system is completely supported by smart contracts that contain various log records, cost-sharing agreements, as well as execute rental deeds or charters for the aircraft. It also has a highly organized protocol to ensure transactions that occur based on the existing compliance and regulations.

Working of Aeron

Features of Aeron

Aeron [ARN] Token

ARN is an ERC20 compliant based token with a fixed supply of 20,000,000 ARN. It allows simple integration into users’ wallets and can be traded through direct transfers or smart contracts freely. ARN utility token will be incorporated in Aeron products. These tokens are not limited by the Aeron mobile applications alone, it can be used for creating revenue streams and offers additional features like commision on paid services, a currency for buying aviation services, commission on paid services, etc.

The Aeron team has initiated the Research and Development of the blockchain based software solution in the year 2016. They are currently working on the blockchain integration of the systems. 

The highly passionate and innovative team is aiming to continue their R&D on Big Data and various other upcoming technologies. Aeron is also working towards its collaboration with technology giants like Uber, SpaceX etc.

To know more about Aeron, Click here!

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Laira is a full-time writer at AMBCrypto. She is a Computer Science graduate and she has about 1-year experience in writing. Her enthusiasm and keen interest in developing her knowledge about blockchain and cryptocurrency led her to be a part of AMBCrypto. She currently does not hold any value in cryptocurrency or its projects.

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Technology

China wants it fast and now – Orders to speed up Blockchain development

Sarah Rodrigues

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China wants it fast and now- Orders to speed Blockchain development.
Image Source: Pxhere

The largest country in the world has a positive outlook towards Blockchain technology.

The State Council of China has demanded that authorities need to speed up the development of Blockchain technology. The country’s central administrative branch of government first issued this order on 4th May 2018. It addressed various strategies that required continued reformation of the Guangdong Pilot Free Trade Zone.

The Guangdong Pilot Free Trade Zone is a free-trade zone is in the province of Guangdong, China sandwiched between Hong Kong and Macau to build a vast international free-trading market. It was authorized by the State Council in 2014 and officially launched on April 2015.

An official document stated:

“To build a regional equity market in Guangdong, according to the opening up of the capital market, timely introduction of Hong Kong, Macao and international investment institutions to participate in transactions. We will vigorously develop financial technology and accelerate the research and application of blockchain and big data technologies under the premise of legal compliance.”

However, the document does not reveal or contain any details on the extent of blockchain technology that will be used in the Free-Trade zone.

According to China’s Ministry of Information and Technology, the Guangdong division has 71 blockchain startups. In 2016, the concept of cryptocurrency and blockchain technology was introduced as a part of their 13th five-year economic development plan from 2016 -2020.

The Bank of China [BoC] recently announced the initiative to irradiate poverty through Blockchain technology in the region of Tibet, an autonomous region in China.

supreme-n00b, a Reddit user commented:

“China has done this many times before. It’s not that they’re scared of new technology. It’s that they have the population to turn their own copy technology into the status quo. Why open yourself to Twitter when you can create a billion-dollar brand by forcing everyone to use Weibo. Crypto is no different. The Chinese are going to choose and run with a coin and put it on WeChat – instant use by hundreds of millions of people. Yet another billion – perhaps trillion in this case -dollar tech. The biggest mistake the Russians and Indians ever made was allowing western internet access to their people.”

colivingclub said:

“This seems pretty familiar. China bans Google service and creates their own search engine Baidu. China bans Facebook and creates their own social network Qzone. Next step – own internal cryptocurrency? And this won’t even cause any surprise”

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Altcoins

‘The U.S SEC must regulate the cryptocurrency market to eliminate the bad actors’ – says Ran Neu Ner

Laira Rebecca

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‘The U.S SEC must regulate the cryptocurrency market to eliminate the bad actors’ - says Ran Neu Ner, the CNBC host
Source: Max Pixel

CNBC Fast Money, hosted by Melissa Lee, had Ran Neu Ner as the guest this time. Ran Neu Ner is a famous host of CNBC Africa’s Crypto Trader show and is the Founder of OnChain Capital.

The main topic of discussion was about “Is cryptocurrency market being manipulated?”

According to Ran, in the past, it was easier to manipulate the cryptocurrency market because there were a very few exchanges, a few on-ramps, and off-ramps. However, today with an overall market cap of $330 billion, it is a bit more difficult, because there are many exchanges and the volume of the digital currencies are much higher.

He also mentioned about the recent tweets that exposed a group, who is manipulating small penny tokens and how they got exposed for manipulating small e-liquid tokens.

Melissa further raised a doubt about how the market manipulation is occurring in deepest markets like London Interbank Offered Rate [LIBOR] and compared it with the U.S cryptocurrency market.

Ran mentioned that he is not sure about it, because the U.S. Securities and Exchange Commission [SEC] has not regulated Bitcoin and other cryptocurrencies.

Therefore, there are no regulated acts, under which the illegal terms can be questioned.

He says:

“what is the problem of driving the prices up? It is illegal in terms of what act? We are not a currency, not a commodity, we don’t know what we are.”

Further, they discussed, due to the uncertain market values of BTC and other coins, should the traders be cautious about what the SEC, U.S. Commodity Futures Trading Commission [CFTC] or the U.S Department of Justice [DOJ] is going to look at.

Ran says, when the SEC and other organizations come up with regulations, it is going to open the floodgates for new money to come in. He thinks that regulations are eminent and he expects SEC to quote new regulations for cryptocurrency and hopes that everyone will follow it.

Also, he mentioned that he would encourage crackdowns because they can catch the bad actors who create a lack of trust. To obtain a real asset class with real people, eliminating bad actors is very important.

Ran believes that people across the U.S are waiting for the guidance of SEC and they have a huge part to play in regulating cryptocurrencies, while other countries are already looking into various aspects of cryptocurrency and have started accepting them.

A cryptocurrency enthusiast says:

Always an interesting conversation when it comes to manipulation. The #Silver market has had a conspiracy theory about being manipulated for more than 10 years.”

Anthony Matthew, a business analyst says:

“BTCUSD barely broke lower than 7500 all day, despite well-known news of cryptotrade manipulation and DOJ + CFTC investigation.  I feel like I am trading in the stock market again, so I am buying Bitcoin at 7500.”

A cryptocurrency miner named Chad commented:

“Maybe the DOJ and @CFTC will crack down on manipulative paid Roger Ver shilling appearances too”

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