Quick Take
Wingbits teams up with peaq to revolutionize flight data tracking. Using Web3 and blockchain technology, they’re building a decentralized network of antennas worldwide, rewarding contributors with crypto. This innovative approach is set to transform the aviation industry’s data collection, offering transparency, efficiency, and environmental benefits.
Wingbits Partners with peaq to Revolutionize Flight Data Tracking Through Web3 and Blockchain
Wingbits, a Web3 flight tracking network, has joined peaq, the blockchain platform for real-world applications. The collaboration aims to revolutionize the way flight data is collected, shared, and utilized by introducing a decentralized physical infrastructure network (DePIN) that rewards individuals with cryptocurrency for their contributions to the aviation industry.
Wingbits’ innovative approach is set to disrupt the conventional reliance on radar systems for tracking aerial traffic. Instead, it leverages Automatic Dependent Surveillance-Broadcast (ADS-B) data, which entails planes broadcasting vital information such as their identifiers, current position, and altitude. This modern alternative to radar systems is gaining traction within the aviation industry due to its accuracy and efficiency in tracking flights.
One of the key drivers behind the adoption of ADS-B data is the increasing scrutiny the aviation industry faces over its carbon emissions. With environmental concerns at the forefront, the precise tracking of flights becomes paramount, making ADS-B data an invaluable asset.
The global market for flight data monitoring, which was valued at over $3.8 billion in 2019, is expected to witness substantial growth. By 2027, it is estimated to reach a value of approximately $5.4 billion. Wingbits’ unique approach to incentivizing the collection of ADS-B data positions them as a player to watch in this evolving market.
Wingbits has already made significant strides in building a decentralized network of over 230 antennas across six continents, forming the basis of its DePIN. These antennas collect signals from ADS-B transponders on flight traffic, powering a live sky map available to anyone interested in tracking flights in real-time.
The applications of this community-sourced flight data are extensive, ranging from improving airport and airline operations to enhancing aviation insurance, creating aviation apps and services, keeping passengers informed, and providing valuable data to researchers and enthusiasts alike.
What sets Wingbits apart is its collaboration with peaq, which serves as the DePIN-focused layer-1 backbone for its network. This partnership enables the decentralization of the rewards mechanism that underpins Wingbits’ global network. Using peaq, Wingbits leverages self-sovereign peaq IDs as the identity mechanism for antennas joining the network, ensuring secure and verifiable data collection.
Moreover, Wingbits taps into peaq’s capabilities to enable shared ownership of specific world map hexes, represented as non-fungible tokens (NFTs). These hexes, areas on the live map, provide increased coverage to their owners, further incentivizing participation within the network. To distribute rewards among hex owners based on their data contributions, Wingbits utilizes peaq’s reward pallet, ensuring a fair and transparent compensation system.
Alex Lungu, co-founder and CTO at Wingbits, said: “peaq’s vast array of DePIN-specific functions make it a perfect home for token-incentivized networks. We are excited to be joining this bustling ecosystem as we foster a network providing crucial data for passenger and cargo flight services. ADS-B data grows more important by the day, and with Wingbits, anyone can become a stakeholder in this important sector.”
Till Wendler, co-founder of peaq, sees the collaboration as a game-changer for the aviation industry. He commented, “Wingbits takes Web 3 and DePIN to the sky. Its app will enable a new generation of flight-oriented apps, services, and platforms leveraging community-sourced flight data. It’s an innovative and forward-thinking project that brings a lot of value to the ecosystem.”
The partnership between Wingbits and peaq signifies a paradigm shift in the way flight data is managed, offering a decentralized, community-driven approach that promises to enhance the safety, efficiency, and transparency of the aviation industry. As the global aviation landscape continues to evolve, this collaboration is set to play a pivotal role in shaping its future.
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