RedCat Startup Wants to Register Data from Flying Drones on the Blockchain
The startup Red Cat will be working in order to store drone flight data on the blockchain. The main intention of this initiative is to guarantee immutability. According to a recent report released by Tech Crunch, the company has announced the second beta of its drone data platform. Red Cat is a firm that is based in Puerto Rico and has received over $2.2 million in funding.
Jeff Thompson, the CEO of Red Cat, explained that the need for a black-box system became apparent to him. This black box is what planes include to track data about the flight. Thompson believes that it is possible to reproduce this capability for drones and store it on the blockchain.
On the matter, he commented:
“People want to be able to have some accountability and trackability to be able to start utilizing our information, whether it’s regulators or insurance companies, guys that have to write checks if you do a lot of damage.”
For example, companies such as the one involved in the last Gatwick Airport shut down in London could be interested in obtaining data related to drones and where they fly. By using blockchain technology, it is possible to be sure that the data that users see is real and has not been tampered in any way.
During a conversation with Tech Crunch, Thompson explained that having such a system in place is essential for the industry to mature and be able to share airspace with other types of commercial air traffic. Red Cat also wants to provide companies with data and insight into what is happening with their drones.
This can help firms monitor their drones and how they are being used. They would be able to monitor their traffic, heights, speeds and places where they are used. At the moment, the company has released a beta in which there are 200 individuals actively using it. The main intention is to have additional feedback from the drone community, including companies, pilots, regulators and also insurance companies.