Aeron – ICOindex Due Diligence

Disclaimer

This is not an investment recommendation! ICOindex has done a verification that covers several key aspects that our team personally considers to be very important to determine whether the ICO project is legit or a possible fraud. These aspects do not reflect the investment potential or risk. Investing into initial coin offering (ICO) or any other cryptocurrency presented on this website can result in partial or complete loss of your money. Do not invest into things you do not understand and do not invest more than you are willing to lose. ICOindex cannot be held responsible for any issues relating to projects listed on ICOindex.com website.

Project Description

Problem:
Aviation unites the world. Today it has become an irreplaceable part of our lives, our business, and more importantly — it brings us back home to spend time with our family.
There are over 100,000 flights worldwide made daily, serving over 2 million people. Despite the fact that aviation is considered as one of the safest types of transportation, the number of accidents related to air transport averages to about 3302 yearly. The main reason is the human factor.

Solution:
The improvement in aviation safety today can be achieved by using blockchain technology. It will exclude the possibility of loss, distortion or forgery of vital log data, therefore significantly reducing the risk of fatal accidents. Information should be transparent and available for the authorities to improve safety.
Advantages of Aeron blockchain solution for aviation Blockchain technology ensures that vital log data cannot be altered.Multi-sig authentication system provides data security.Information is stored in the blockchain, transactions are transparent and can be viewed by all users.

How it works

Falsification of data would be no longer a concern with the development of blockchain. Advantages of the blockchain system are that information is safely stored and completely transparent to all the users. It is secured by a multi-sig authentication system, preventing any alteration of vital data. The aim is to create “airline in a pocket” — a smart blockchain based solution. The way it works is simple. The pilot’s application is used by a pilot for personal flight logging. The company application collects and verifies data from aircraft operators, maintenance organizations, flight schools and fixed base operators. In case of any mismatch in data between any Aeron data source with either the Air Traffic Control, pilot, or operator, aviation authorities can quickly detect and eliminate the problem. Aviation authorities can also detect any pilots operating with an expired license. As a consumer, or flight school student, you have access to the verified global database through aerotrips.com. Blockchain can really make a difference. Air travel is for everyone, and it is beneficial for every single person to get involved in making trips safer.

ICOindex Due Diligence

The Whitepaper is clearly outlining the problem, the solution and Aeron’s approach and motivation. The information in the whitepaper is describing this in detail and highly transparent. A roadmap and detailed business model description can be found on the website and in the whitepaper in great detail as it is planned until late 2018.

The official Twitter and Facebook accounts of Aeron have nearly the same amount of followers and likes with around 1.500 at the time of writing and were created recently at the project start in 2017. Furthermore, the slack channel itself features a very small community of around 120 members, however, the aero team is quite active.

The identity and the experience of the team members can hardly be verified through the online presence of the Aeron team. The experiences and accounts itself seem mostly plausible, however, not all team members feature Aeron as their current employer and it is not sure at the moment if the relevant members really work on the project.

At the time of this writing, ICOindex does not have any information about the existence of an Escrow service used for the ICO and therefore no evaluation of the escrow service provider can be made.

The current project status features a live one platform (aerotrips.com) with a traditional payment-system implemented and no blockchain solution. The site itself has under 12.000 visits so far and consists mostly of a database of flight schools and not much functionality.

Conclusion

Given the high level of transparency and experience of the founding team and advisors, it can be said that Aeron is a legit project at early stage with a working prototype and given all the reasons above it can be ruled out that the mentioned ICO above is in any kind a fraudulent scheme or a scam. The overall rating of the due diligence evaluation by ICOindex is therefore “verified”.

Due diligence was done by Patrick Alexander Fuchs, Cryptocurrency Investment Analyst at ICOindex