Sharing with you the Aeron Blockchain solution and ARN token utility

Abcc Exchange lists ARN

“Have a safe flight”. This is something that we hear often before we embark on our flight, and rightfully so. Despite airplanes being safe in general, there are still flight related accidents that happen. According to the ARN whitepaper, “Accidents related to air transport average to about 3302 yearly, mainly due to human factor”.

These human factors can be due to the lack of experience of pilots, as a significant number of them are able to forge their log of flight records. Flight operators may also under report the flight hours to save on maintenance costs for the aircraft. Due to the immutable nature of Blockchain technology, the Aeron project intends to implement their Blockchain solution in the aviation industry in the areas of data management and payment. Read on to learn more about the Aeron project.

Aeron- Bringing Blockchain To Aviation

The Aeron project intends to build an ecosystem for pilots, passengers as well as flight schools to name a few. Under this ecosystem, pilots are able to enter their flight logs into the app, with details such as the location, distance and time. This data can be cross checked against the Aircraft and Air Traffic Controller data. Once submitted to the Blockchain, the flight logs cannot be changed.

Benefits of the Aeron ecosystem at a glance

This data is also useful to companies in the maintenance of aircrafts, whereby the flight data determines the need for an aircraft to undergo maintenance such as refueling and the replacement of certain airplane parts.

To cater to passengers, Aeron has created the aerotrips.com web portal, where users can look at the flights on offer and make payment with the ARN token. Pilots that have their flight logs validated by the Aeron solution will be represented with a trust icon on the web portal for a better reputation.

In the long term this will provide a more seamless transition towards an integrated system that is cross border instead of the current system of fragmented record of flight logs in different countries and the separation of pilot flight logs and the flight distance of an aircraft.

ARN Tokenomics

The ARN token is an ERC20 token that has a total fixed supply of 20,000,000 tokens. The ARN token has the following utility functions:

Transaction based fee for log entries Receive as commission for paid services As a mean of payment for aviation services (users receive discount when paying with ARN tokens) Unlock access from flight schools, offers from pilots and aviation companies

To kick start participation in the ecosystem, seed ARN tokens will be distributed to flight schools, aircraft operators and aviation companies that signed up with Aeron.

The Aeron Team

CEO and CTO of Aeron

Led by CEO Artem Orange, the Aeron team has extensive flying experience, with certified and aviation engineers on the team. Artem is a serial entrepreneur, with over 15 years of experience in telecoms and finance. CTO Nadezhda is an aircraft operation and air traffic management engineer with over 11 years of experience, which should prove beneficial to the execution of the project with her experience in the aviation industry.

ARN ERC20 To EOS Token Swap

Recently Aeron has entered the EOS ecosystem, with bi-directional swaps between ARN ERC20 tokens and EOS tokens. The token swap ratio is 1:1, and each EOS token is backed by a legacy ERC20 token. The EOS tokens will be supported by MEET.ONE wallet. Users can store their ARN tokens in this wallet.

What this means is that there will be increased liquidity of the ARN token, given that it is open to liquidation on the EOS blockchain. More ARN trading pairs will also be enabled, with trading open to EOS stable coins. ABCC Exchange may be listing the ARN EOS token as well, so please keep a lookout for that. For more details on this swap, read this article from ARN.

In Summary

Without a doubt there will continue to be a higher number of flights in the future, with millennials in general wanting to travel to more countries and with the trend of globalization set to continue. To prevent human error in this growing industry, Blockchain solutions will provide transparency and immutability to ensure legitimacy of all parties.

Disclaimer: The above article is a brief overview of the ARN project and is in no way an endorsement of ARN from ABCC Exchange or financial advice in any form. Users are reminded to carry out their own due diligence and execute trades based on their research and risk tolerance.