Hello Artem, can you kindly summarize what the Aeron project is about?
Aeron is focused on flight safety – we are building a global decentralized aviation record system called Aeron Register. Based on blockchain technology, this comprehensive online system includes a global aviation database accessible by online portal or mobile applications.
Solving the safety problem in aviation via blockchain is not a task as straightforward as, for example, in asset transactions or data storage. To see, how it could be done, we should first understand the roots of the flight safety problem related to flight records.
The main reason behind accidents involving aircrafts is human factor. As every complex industry aviation uses many huge and versatile, usually isolated and sometimes outdated data systems. Discrepancies in data can cause manifold problems affecting not only revenues and operational integrity, but – what is much more important – human lives. The key problem is pilots and flight instructors may fake flight log records to claim experience the pilot does not actually have. 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 solved by blockchain technology creating immutable records for pilot flight logs and maintenance databases.
That is great! Knowing how delicate issues concerning air travel safety is, can you give some details as to how blockchain technology will be employed to help ensure aviation safety?
Blockchain offers transparency, credibility and security on a profound level, which has no match in modern technology. The idea behind Aeron is rather simple: all people, involved in operating and flying an aircraft use customized apps – pilots for personal flight logging, aviation companies to collect and verify log data from flight schools, aircraft operators, fixed base operators and others. Blockchain technology with a security wrapper solves aviation security problems creating immutable records for maintenance databases and facilitating data exchange on every step of communication between clients, airports, aircraft maintenance and service companies. With Aeron Register system, pilot and aircraft log records are available for public audit and can’t be forged. The Aeron Register system can be also applied to aircraft maintenance records and tracking of spare parts, to confirm that spare parts are authentic and maintenance has been performed according to standards. The result is a higher level of record integrity – the key component for safe aviation practices.
Will the Aeron project be only beneficial for air travelers?
Well most of us become air travelers at some point in time. Aeron project aims to enhance safety of general and commercial aviation. We expect that by making the aviation record system more transparent and robust with blockchain implementation, anyone taking a flight can be more confident that a pilot actually has experience he claims, and ultimately feel safer.
What can you tell us about your team? How does the team compliment the execution of the project?
We are a group of aviation enthusiasts. Having to file a paper log book after each flight, it looked so awkward in this digital age. We thought that blockchain technology is the perfect match to ensure log records are written in reliable and transparent manner. That is how the idea of Aeron was born. We reinforced our team with professional Solidity developers, UX/UI designers and marketing experts and are confidently building a robust solution for safer aviation practices.
Where do you see the value of ARN Tokens in the medium to Long term and the ultimate benefit for token holders?
Aeron (ARN) tokens will be used within the Aeron ecosystem, but they won’t be limited by the Aeron mobile applications in the future. Aeron token can be utilized for the following purposes, creating additional revenue streams for Aeron and offering additional benefits to the token holders:
Subscription fee / Transaction based fee for log entries
Commission on paid services (in fiat or ARN tokens)
Commission on intermediation and client introductions
Currency (mean of payment) for buying aviation services
Unlock access to flight schools, offers from pilots and aviation companies
Aeron token will be listed on major cryptocurency exchanges, offering liquidity to the token buyers. Token will be convertible to BTC and ETH on exchanges.
To incentivize participation in the ecosystem and expand our reach, we will offer a seed quantity of Aeron tokens to flight schools, aircraft operators and aviation companies signing up with Aeron. Once seed tokens are exhausted we expect a steady demand for tokens from the users. Compared to fiat based payments for Aeron fees and commissions, we will offer discounts should the fees be paid in ARN, facilitating further demand.
And since the aviation industry is huge, and we ultimately want every pilot, flight school or aviation company to hold ARN tokens. We expect significant growth in the token market value. Aeron could become a standard token for aviation industry.
Briefly run us through how the process of Aeron Token crowdsale will be executed?
Token sale will be executed on our web site starting 00:00 UTC on September 19, 2017. You should sign up at token sale wallet available at https://tokensale.aeron.aero, enter your Ethereum wallet address to receive the allocated tokens to, select the number of tokens and pay with BTC or ETH. You will get an email and on-screen confirmation once your payment is received and transaction is confirmed on the respective blockchain. After the token sale event is completed in October, tokens will be released to your Ethereum wallet address. At that, you will become the proud owner of ARN.
Thank you so much Artem for making time to do this interview. Good luck with your ICO
Thank you too at ICOWatchlist and we are appreciative of your cooperation and collaboration all through.
For more details, follow the Aeron ICO here.