On Friday May 15th, Ubik Capital released a comprehensive paper that details its Unmanned Aerial System or Drone R&D project which is in the works with partner Aero Systems West (ASW). With the paper, the ICON P-Rep also sheds light on the project value, need for further exploration, and its current status.

The collaborative effort began with the goal of achieving higher safety and security in commercial UAS operations using blockchain technology. Blockchain solutions can satisfy drone operation requirements for “trusted data and regulatory compliance for safe and efficient flights.”

Russell of Ubik Capital writes,

“In the case of ICON, the blockchain is public and decentralized, relying on node operators around the world to maintain the ledger and approve new information to be added to the ledger. ICON boasts 2-second block times (how long it takes to add new data to the ledger) and offers substantial developer resources. The security, reliability, and availability of this implementation (versus other architectures), makes ICON a natural choice to begin exploring the use of blockchain for aviation activities.

Ubik Capital also shares details on the project strategy. On the cloud hub architecture from ASW, Ubik has started developing a blockchain module that can support in “areas of flight tracking, coordination, safety of flight, and regulation”

In regards to the project’s current status, the P-Rep shares information on the following areas:

  1. Progress in research for key target areas for blockchain integration to UAS
  2. Project’s plan and schedule development
  3. Software development 
  4. UAS integration and flight testing
  5. Sales and marketing plans 

Ubik Capital states that it plans to continue focusing on and improving project performance. It adds, As a public representative on the ICON network, Ubik Capital sees value in exploring new use cases and expanding blockchain applications to new industries.