Drones And Blockchain Technology 4 Ways They Can Work Together

Technology constantly goes through evolution. Recent advancements have ushered in a whole new era of innovation. While blockchain technology was first outlined in 1991, and implemented in 2008, drone technology has been around for much longer – Nearly a century. Drone technology, has recently gained traction, and is widely used in businesses, as people have begun to realize its potential, and capabilities. From being used to predict weather, to its use in agriculture, and wildlife conservation, among others, drone technology finds its use aplenty.

The global market for the implementation of drone technology for business services, stands at $127 Billion – A staggering number. Northwards of 1.3 Million drones have been registered with the Federal Aviation Administration (FDA), and this in turn poses new challenges, and great risks, when it comes to managing air traffic, and creating flight plans. Not so surprisingly, pilots are seeing drones more often than they should be – While flying an aircraft!

According to the FAA, more than 2000 drones were spotted by pilots in 2018, while one of these drones hit a Boeing 737. This led to the radio and communication equipment of the aircraft being damaged. While the plane landed safely, with no reported causalities, things could have, and would turned sour if an accident did in fact take place. This is where blockchain technology comes into the equation. Blockchain technology can be used to suffice this problem, as well as a few more issues pertaining to the use of drones.

• Security

Blockchain technology is being actively pursued to improve data security across sectors of business. Drones can be provisioned with cryptographic data, by using distributed ledger technology. This will ensure that the data transmitted by drones is secure, as it is encrypted. Drones can then be used in carrying out sensitive missions and tasks, or in other business applications.

To put it into perspective, if drones are being used in the system of package delivery, using blockchain technology would enable the owners of these drones to log information with respect to location, time, delivery date, and resources, among others. The ability of third parties to track and collect information being carried by drones raises stark concerns about the security and privacy its technology enables.

Blockchain technology could, and will be a trendsetter in the drone industry, as it will minimize security concerns. Even if a drone falls in the wrong hands, its data will be safe, as it is in an encrypted form.

• Identity Management

Any technological facet that is being misused is a problem. The misuse of drones in vandalism, inappropriate use, and accessing unauthorized property is an issue. This has led to several countries banning the use of drones altogether. Considering the advantages the implementation of drone technology carries, its cons outweighing its pros is a disappointment. Blockchain technology can help solve this problem a well.

An identifier based remote identification setup could help authorities, and other public entities to report an identifier number, in case a drone is being misused. The blockchain-based identifier system will monitor the flight of registered drones, and issue complaints, which can be further investigated by authorities. All this can be done without breaching the privacy of the owner of the drone. All information which is confidential in nature, will be protected.

• Air Traffic Control

As in the case of a drone colliding with an aircraft, and drones colliding with other drones, air traffic control presents a complicated tale. It is a challenge indeed, as the number of drones in the market are increasing exponentially, in turn leading to an increased risk of drones colliding mid-air. This issue must be addressed, and can be done so by using blockchain technology, that will provide for efficiency, and accuracy, in the form of a robust air traffic management system.

Using blockchain technology, the real-time location of drones can be updated. Since the data on the blockchain that will be used will be public in nature, other drones will have access to the locations of other drones, thereby enabling them to avoid and prevent collisions altogether.

Prohibited area information too, can be updated in real-time. This will prevent drones from entering into prohibited areas. Hackers cannot tamper with this data, as it will be encrypted. Drones can only share information with other drones, ensuring that there is no access, which is unauthorized.

• Insurance

When it comes to companies like Amazon and FedEx using drone technology to deliver a variety of products and supplies, like packages, medical supplies, and other commercial products, insuring the drones is necessary. Blockchain technology can help identify the exact cause of a drone crash.

If a drone crashes into property and damages it, or damages a package being delivered to a person, or God forbid injures a person or animal, the exact cause of the accident must be known to insurance companies, so that they can act accordingly in the best interest of their client/clients.

This data will be stored on a public ledger, and cannot be altered by the companies owning these drones, although they technically own the information.

Conclusion on how Drones & Blockchain Technology can co-work

If the drone industry does indeed continue to grow at such a fervent pace, the applications of blockchain technology in the drone industry will increase manifold. While both are separate entities, blockchain technology massively helps secure the operations of drones, and ensure that they stay on track (without injuring, harming or crashing into any entity, and getting away with it), and do not diverge private information. That being said, blockchain technology and drones, walk hand in hand.

Michael Kuchar is a professional forex and cryptocurrency day trader who writes a popular blog about trading – http://tradingbeasts.com/. He is fascinated by the blockchain technology and decentralized applications. When Michael is not analysing the charts or does not write on his blog, he is most likely traveling or trying to learn how to box without being killed in the process.

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