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September 21 2017

ICO Alert Report: Aeron

ICO Alert Report: Aeron

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What is Aeron?

We are a group of aviation enthusiasts thinking that blockchain technology could be an effective and perfect way to handle a range of significant issues in aviation. That is how the idea of Aeron was born. Aeron is aimed to enhance safety of general and commercial aviation; 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. As every complex industry, aviation uses many huge and versatile, usually isolated, and sometimes outdated data systems.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, more importantly, 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.
— Artem Orange, CEO of Aeron

Crowdsale Information
The Aeron crowdsale began on September 19, 2017 and ends on October 23, 2017. The price per Aeron token (ARN) is $0.50 and it is an ERC-20 token. Bitcoin and Ether are accepted as contribution and an ERC-20 compliant Ethereum wallet should be used to ensure delivery of ARN tokens. Exchange wallets should not be used.

Aeron raised over $1,000,000 in their presale, and does not consider itself to be a security based on the SEC’s Howey Test guidance. More information on this consideration can be found on their website here.

There is a bonus structure incentivizing early contribution that is as follows:

25%: From September 19 — September 24
20%: From September 25 — October 1
15%: From October 2 — October 8
10%: From October 9 — October 15
5%: From October 16 — October 22

Token Distribution Information
There are a total of 100,000,000 ARN tokens being created. This is the fixed supply of tokens, therefore further tokens will not be created in the future.

Tokens will be distributed to contributors at the end of the crowdsale. Aeron specifies on their website that the token will be listed on the major exchanges: Bittrex, Binance and HitBTC.

60%: Sold to the public across both the pre-sale and crowdsale
20%: Used for network growth in incentivizing participation in the ecosystem
18%: Retained for the development team
2%: Used to cover administrative costs

Use of Crowdsale Proceeds
Aeron utility tokens are created to fund development and marketing of the Aeron project with an associated distributed database, online portal, and applications. The following is the percentage breakdown for the use of crowdsale proceeds:

40%: Research and development
30%: Marketing and promotion
10%: Technology infrastructure
10%: Lobbying with authorities
5%: Legal consultancy
5%: Administration

Artem Orange, CEO
Artem has more than 15 years of experience in telecom and finance. He is the former CEO of two national-scale cellular operators and a serial entrepreneur in technology sectors. Arterm is an aviation enthusiast and a Chartered Financial Analyst (CFA) charterholder since 2009.

Nadezhda Barkanova, CTO
Nadezhda is an aircraft operation and air traffic management engineer with over 11 years of experience, specializing in the full cycle of production aeronautical databases, flight crew training programs, flight simulators, and computer based training development. She is an EASA PPL(A) (aviation related certification) holder since 2013 and is fluent in three languages.

Konstantin Gertman, CDO
Konstantin has 14 years of experience in consulting, market research, and financial businesses. He has his master’s degree in banking and finance, is a passionate small aviation enthusiast, and co-founder of aerotrips.com, where he worked for four years before joining the Aeron team. He has been an EASA certified pilot since 2013.

Ruslan Zholik, Architect
Ruslan has been building scalable IT projects for over 16 years. He is the CEO of a hosting and business intelligence company and has a deep understanding of crowdfunding and related technology. Ruslan is focused on the creation of convenient and multifunctional products.

Ali Badeea, Business Development MEA
Ali started as a contractor in Titan Corps military ops division. He continued his career as a UN and military logistics agent and entrepreneur. He has over 12 years of experience in logistics management and finance and has been an EASA certified pilot since 2011.

Dmitri Prokopenko, Business Development China
Dmitri is a long term resident of China, fluent in Mandarin, and the founder of several language schools. He is the former CEO of Water Energy, a new energy startup in Xiamen. Dmitri is a crypto analyst and investor, having supported projects like TenX, IOTA, LBC and Steem.

Andreas Fleischer, Business Development Europe
Andreas is the founder and CEO at Andreas Fleischer Events, an international full-service marketing agency. He has a wide network of contacts in Germany and other EU locations and is offering guidance and lobbying support to Aeron.

Kateryna Starcheus, Product Designer
Kate is a seasoned product designer with more than 10 years of experience in UX and UI design. She is a full-stack designer, entrepreneur, usability consultant, lecturer, and author of UX courses. She is currently working as a product designer for a software company called People.ai.

Pavel Liplianin, Product Manager
Pavel is a specialist in stochastic analysis applications in financial markets, big data analysis, and machine learning. He is a mathematician and the ex-CTO of a consulting company specializing in operational excellence.

Kirill Kazakov, Customer Experience Analyst
Kirill has been focused on business modelling and customer experience for over 12 years and has worked for both Coca-Cola and Intel. He has a deep understanding of client needs and is responsible for matching expectations with a useful digital solution.

Anastasia Moroz, Community Manager
Anastasia is currently studying international relations. She has participated in planning forums, meetings, and conferences involving cryptocurrency since 2014. She will be supporting online communities for Aeron.

Boguslav Koledinskiy, Blockchain Developer
Boguslav has lead a team of programmers, analysts, and designers at Fairmax, an HR management software company, since 2009. He is a cryptocurrency evangelist, blockchain engineer, and mobile application developer with rich experience in commercial projects.

Social Media
Telegram: https://t.me/aeronaero
Twitter: https://twitter.com/aeron_aero
Facebook: https://www.facebook.com/aeronpublic
Reddit: https://www.reddit.com/r/aeronaero
Slack: https://aeronaero.slack.com/join/shared_invite/MjM1ODU5MjgwNTk1LTE1MDQ1MzMzMTgtZDE2Y2JiOGM1Mw
Github: https://github.com/aeronaero/aeron
Medium: https://medium.com/@aeronaero
Bitcointalk: https://bitcointalk.org/index.php?topic=2078239.0


ICO Alert: How does the Aeron token (ARN) work within the platform and why is it needed?

Artem Orange, CEO: Aeron (ARN) tokens will be used within the Aeron ecosystem, but they won’t be limited by the Aeron mobile applications in the future. The Aeron token can be utilized for purposes such as subscription fees and transaction based fees for log entries, commission on paid services, and currency for buying aviation services, and others.
ARN will be listed on major cryptocurrency exchanges, offering liquidity to the token buyers. The token will be convertible to BTC and ETH on exchanges and you can read our whitepaper for more information.
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.

ICO Alert: The Aeron projects seems to be heavily dependent on partnerships and clients using the products and services that Aeron provides. How does the team plan to execute these large partnerships and market to these type of clients?

Aeron: This is correct. The marketing approach is different depending on the target segment within the aviation ecosystem. With our existing database of flight schools worldwide, we will approach the major European markets first, to bring partners onto the Aeron platform. Aircraft operators, maintenance companies, and fixed based operators will follow. As for business-to-consumer relationships, we will market extensively to the pilot and light aircraft owner community highlighting the benefits of the Aeron logging solution. Imagine that your aircraft has a transparent maintenance history stored on the blockchain, increasing resale value, and this data is freely accessible across national borders. This has never been possible before.
Another important aspect is lobbying with aviation authorities to make the Aeron solution acceptable for statutory needs, such as license renewals or validation. These partnerships will require guidance and support, and we intend to engage government relation professionals to support Aeron. The process will start with select European countries and extend globally thereafter.

ICO Alert: The cryptocurrency space is still very new to most people, and it appears that this project is aiming for integration with companies like Uber or SpaceX when the technology hits a “waterfall” moment. Where do you see Aeron in the long-term and how do you position yourselves now to be the best option as a third party service for larger companies in the future?

Aeron: We would like the Aeron solution to become an aviation industry standard when it comes to the collection and storage of log data, primarily from private pilots and aircraft owners. On the next stage, we will approach the commercial aviation industry from this solid foundation. We are aware of many large vendors, including Boeing and Airbus, looking into in-house blockchain based solutions for spare parts tracking as an example. We believe that Aeron can be perfectly integrated as a non-competitive platform for aviation records. We will try to be agile, making sure that our solution grows ahead of the market needs.

ICO Alert: How does the Aeron platform improve the safety of airline travel? Does it improve other efficiencies for airline companies and financially incentivize them to partner with Aeron?

Aeron: We believe that aviation safety is closely related to record integrity. Once the log records are stored on the blockchain, available for public audit and can’t be forged, both authorities and passengers can be confident that a pilot actually has the experience they claim. Taking this a step further, the same system can be applied to aircraft maintenance records and tracking of spare parts, to confirm that spare parts are authentic, maintenance has been performed according to standards, and that there are no shortcuts.
As to the other efficiencies, we are planning to let Aeron refer business to aircraft operators, maintenance companies, and fixed base operators. As pilots enter their intended route into the logging application, they will see services available at their destination (i.e. refueling) and will be able to order services. As the general public searches and books an aircraft charter or a sightseeing flight or a flight training course at aerotrips.com, we will get a referral commission, in the same time bringing new business to the entities signed up with Aeron.

ICO Alert: How does the Aeron platform work for companies, pilots, and users? How do you plan to incentivize users to use the aerotrips component of the project?

Aeron: The way Aeron works is simple: all people involved in operating and flying an aircraft use customized apps — pilots for personal flight logging, aviation companies to collect and verify data from flight schools, service companies, airlines, and aircraft operators. In case of any mismatch in data between any Aeron data source, aviation authorities can quickly detect and eliminate the problem. The system also allows monitoring expired pilot licenses. Moreover, consumers or flight school students have access to the verified global database through aerotrips.com which is an aggregator for aviation. Together with our qualified partners, we will offer the following services: Air Taxi & Charters, Flight Tours & Excursions on light aircrafts and helicopters. Our global database also includes flight offers from private pilots. Partnerships with flight schools and aero clubs allow us to propose the best solutions for flight students and pilots. Our clients can build their experience through the extensive selection of flight courses and a database of light aircrafts available for rent around the world. We will promote our portal to become the focal point for anyone who is searching for offers in the field of general aviation.

ICO Alert: The whitepaper briefly discusses a blockchain aviation incubator, consultancy, and educational component of the Aeron project. What are the plans for these parts of the company?

Aeron: We believe that the knowledge must be shared. With development of the Aeron project, we intend to build a knowledge base with real use cases and will invite developers to join and build new exciting applications on top of the Aeron database and ecosystem. We will invest in promising projects and will offer Aeron tokens from the pool reserved for ecosystem development.
In addition to that, we will host seminars to promote our solution and blockchain applications in aviation at large. That should bring us an additional flow of business in areas we cannot envisage at this time.
Apart from commercial aviation, there are hundreds of thousands licensed private pilots and light aircraft owners who can be united into the vibrant ecosystem on top of our portal aerotrips.com and Aeron applications.

ICO Alert: How much of the Aeron platform has already been developed and what does the roadmap look like for the near future? When can consumers and pilots expect to use the platform?

Aeron: Our aerotrips.com software is approximately 90% ready, as we are finalizing its usability and web design. Currently, it is on the beta stage and we are testing the system together with our users, including one of our partnering flight schools, Griffon Aviation in Cyprus. Once this is completed, the portal will be available to the general public in November 2017.
Pilot and company apps should be ready for launch by March 2018, in the same period we will invest significant resources in government relations and lobbying with aviation authorities to ensure acceptance of Aeron solution as an authoritative data source. We hope to launch the complete ecosystem by summer 2018, including mobile applications, booking, and payment interfaces.

ICO Alert: As a non-Aeron question, we like to ask team members for unique predictions about the ICO/cryptocurrency space. Where do you see the industry in 3–5 years?

Aeron: We believe the crypto industry is unstoppable. National barriers are falling and we have a unique chance to see the new blockchain based applications disrupting whole traditional industries. The early investors will see significant returns (same as was the case with early buyers into Bitcoin or Ethereum). We believe that every person in the world will touch the blockchain solutions in 3–5 years from now, in one form or another. While payment applications are the most common, there are so many areas where blockchain technology can make a difference optimizing or replacing legacy systems — everything that has to do with data storage and authentication, which means, naturally, everything. Data is truly the new oil. In our opinion, the token crowdsale (ICO) space will see more regulation and more professional participants will move in, with rating agencies taking an anchor position in investor guidance, so that responsible projects are highlighted. As a general method of community crowdfunding, the space will grow exponentially, yet with more oversight, as it offers an excellent vehicle for new projects to attract attention and financial support.

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View the Aeron Website here.

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(1) Aeron Website, Aeron, (2017)

(2) Aeron Whitepaper, Aeron, (2017)

Topics: Airlines, Blockchain, ICO, Cryptocurrency, Aviation