Aeron is a blockchain technology company focused on improving aviation safety through the use of a decentralized record system. Aeron is actively developing a global, decentralized, small aircraft and flight school database and online portal.
Through a public funded token sale, it plans to become the global standard in aviation safety and transparency.
The company claims that a major issue in today’s global aviation industry is flight operators under-reporting flight hours to save major maintenance costs for the airline. A decentralized, transparent ledger of such records addresses these issues, making it possible to verify data from multiple sources and find discrepancies.
Crowdsale
The Aeron startup is registered in Belize and has managed to raise over $5,000,000 during the initial crowdsale.
How it works
Aeron’s core system is the decentralized database for global small aircraft and flight schools. That decentralized database is called the Aeron Register and is built on the Ethereum blockchain and will require ‘gas’ for transactions.
In the company’s whitepaper, they specify certain use cases: the passenger, the pilot and the company, but they do not specify how the Register actually works, technology-wise. The pilots, the passengers and the company using Aeron will all have to manually input data into the integrated system through apps and web services, depending on the use case.
A pilot application will be used by pilots for personal flight logging, while a company application will collect and verify data from aircraft operators, maintenance organizations, flight schools, and fixed base operators.
Blockchain storage will make it easier for aviation authorities to detect any mismatched or falsified data and consumers such as flight school students will have access to the verified global database via aerotrips.com.
Once an aircraft’s or pilot’s log records are stored on the blockchain, they’re available for public audit and cannot be altered or forged. The system will make it possible to track and validate pilot experience and aircraft maintenance, including the tracking of spare parts
Token.
The Aeron (ARN) utility token will enable write access to the Aeron database and other on-chain events, in the form of subscription or transaction fees. It is also envisaged as a means of payment for small aircraft charters or promotional leisure flights, via partnership arrangements between the company and aircraft owners.
To incentivise participation in the ecosystem, Aeron will offer a seed quantity of Aeron tokens to flight schools, aircraft operators, and aviation companies, and offer discounts for service fees or commissions paid in ARN.
Solutions
Issues
There are several issues with the Aeron project. To start off, supposedly, some of the team members had fake LinkedIn profiles. Furthermore, the whole concept of the vision is super narrow and confusing for new investors.
They also claim their platform will have features without explaining exactly how they’ll be implemented, for example they claim that the system will make it possible to track and validate pilot experience and aircraft maintenance, in… according to the required standards – though how these will be enforced is not addressed.
Aeron is a platform for small flight schools which is as niche as it gets, meaning it has to have flawless execution to be successful. The token itself is listed on reputable exchanges but the project has no serious exposure or partnerships within the aerospace sector.
