It’s not necessary to say that blockchain is now a trend in the world. Lots of companies, people believe that it’s becoming a revolution.
Also, drones are considered as trend since its creation. At first, it seemed like an exciting toy, however,
now it’s being developed for many kinds of purposes. For example, Amazon planned “Amazon Prime Air” in 2013, and now
they are providing this service to deliver items to customers within 30 mins, thanks to the drone technology.
Now, there is an interesting project which tries to combine these 2 hot technologies, which is called “SKYFchain”.
Let’s see if this combination will create a new innovation, and how!
What is SKYFchain?
SKYFchain is the blockchain platform which is aiming at the cargo logistics industry and developed in Estonia.
This is the first B2R (Business-to-Robots) operating platform. Also, this service will use the drone, which is called “Hulk” being developed
for this project. Let’s dive into deeper.
- How does it work?
The role of the SKYFchain is to keep track of all transaction data and to integrate all information of participants on the platform
with smart contract. All transactions on the platform are executed with SKYFT tokens, which are developed to be based on Ethereum
(ERC20). Also, the transactions flow is presented below.
(1) At first, users pay in fiat money for requested transactions in SKYFchain through their smart contracts
(2) SKYFT tokens will be taken from crypto exchanges to execute the transactions
(SKYFchain official webpage)
- What will SKYFchain & SKYF solve?
There are currently some problems in unmanned (automating) logistics, such as using drones.
(1) Lack of transparencies
As a matter of fact, there is no universal operating system for the market even though it’s necessary for clients to
be sure about the safety measures from technical and operational point of views.
Moreover, in order to operate drone for logistics, there are many participants for the operations, such as drone makers, operating companies,
drone pilots. However, it’s not currently clear regarding the locus of the responsibilities if some accident happenedHowever, SKYFchain will solve these problems thanks to the blockchain technology. As I mentioned above, all data will be kept track on the platform
with the smart contract, and it will realize to monitor if there is no problem regarding operations. Also, it will help clients and participants to clarify who has
a responsibility when some accident happened to solve the complexities of the automating logistics business(2) Technical problems
This matter is related to a drone itself. Currently, it’s still costly to operate drones for logistics, especially for long distance and cargo logistics because
current drones don’t have sufficient specs to be used for such an operation.On the other hand, SKYF succeeded to develop the drone, “Hulk”, with the great spec. SKYF can carry up to 400kg loads, also the flight range is up to 350 km.
Moreover, the speed is up to 70km/h and it’s designed to operate in mountains, snows, around the sea, etc.
Therefore, it’s expected that Hulk will be used for not only logistics, also for rescues, aid deliveries and so on in harsh environments.
So, SKYF has a potential to solve the current problems of drones for logistics and other business usages.
(SKYFchain official webpage)
- Prospects of SKYFchain
Actually, SKYFchain is aiming at not only doing business with the drone which they developed, also they are aiming at involving all stakeholders in the ecosystem.
As I mentioned above, SKYF chain could solve the problem of the lack of transparencies in unmanned logistics market. And in fact, SKYFchain is designed for all
unmanned logistics, such as marine & land logistics.
Actually, there are huge prospects in this market. According to a report of MARSH & McLENNAN, UAV (unmanned aerial vehicles) market for commercial is expected to
reach $1.2billion by 2020. Then, if this market expands to include marine & land logistics, the market volume will be tremendous. Also, there is currently no competitors
for SKYFchain, so they are becoming the pioneer and reaching the blue ocean.
(MARSH report, Drones – a view into the future for the logistics sector?, 2015)Moreover, unmanned logistics technologies could give huge
benefits to current logistics companies, because 50% of costs in logistics industry is labours. It means that
they could be more efficient and productive, less costly with the unmanned logistics technologies, and it will be necessary to have a platform unifying all operations and
transactions. It’s a must to have a solution to avoid problems such as complexities of transactions and insurances, managing contracts and data, etc. Otherwise, it would be
difficult for stakeholders to have the benefits with unmanned logistics technologies because of such problems mentioned above. However, if there is already good infrastructure,
it can be assumed that unmanned logistics industry will grow up more rapidly.
Superficially, blockchain and drone seem totally different and not matching each other. However, SKYFchain would prove that such different technologies can create new
innovations by their challenge. Although there are currently lots of blockchain systems, which focus on only systems, SKYF is trying to create innovations by developing the new system
and the new device. This kind of big challenge always makes services super unique and compete other competitors, also it attracts people.In fact, according to SimilarWeb, they are steadily getting interests more and more.
And Japan, where is one of the most enthusiastic countries for cryptocurrency, is of course paying attentions to this project.
Actually, one of Japanese companies has a partnership with SKYF now.
I expect that this project will show us the big innovation in the logistics market by combining 2 new technologies!