According to reports published by TechCrunch on 6th March 2019,
According to reports published by TechCrunch on 6th March 2019, a startup named Red Cat in a fairly new use case for blockchain technology launched the second beta version of its platform which will be used to securely store drone flight data. With blockchain’s growing popularity, its use in the aviation sector is not something new. There have been companies and organizations that have implemented blockchain technology to streamline their aerial operations.
However, Red Cat has the intentions of using blockchain for commercial drone business, something which has long been touted as the “next big thing,” even if they don’t really find enough use outside international security operations. In an effort to increase the commercial use of drones, Red Cat has created a platform that will mirror the utility of a black box. A black box is a small smartphone-sized device that is used to record data for flights. Red Cat CEO, Jeff Thompson is quite confident that this similar tool, which has also been equipped with the benefits of blockchain technology, will surely result in the development of the drone industry, at least at a much faster pace. He said,
“People want to be able to have some accountability and trackability to be able to start utilizing our information, whether it is regulators or insurance companies, guys that have to write checks if you do a lot of damage.”
He also said that having access to tools that could verify drone flight data is extremely important if the industry wants to share airspace with other types of commercial air traffic. According to the report, the company is also working to offer much more than just a flight tracking system.
The company’s second beta comes after more than 200 people used the first version of the blockchain-based offering. Red Cat is hopeful that this round will assist them to additional feedback from companies, pilots, regulatory bodies, and insurance firms that could stand to gain by having access to a data depository stored by the firm.