Feb 27, 2019 06:00 UTC
Feb 27, 2019 at 07:57 UTC
Blockchain Startup Wins a Trip to France to Meet Major Defence Companies
A Blockchain startup that securely tracks and identifies drones has won a trip to France next week. The startup will meet up with the major defence and aerospace firms within the country.
The Adelaide-based blockchain startup, Wright Technologies, has already been in talks with Australia’s defence company aiming to conduct the field trials of its drone’s identification and tracking system by the end of this year.
The members of the Wright team are expected to travel to France next week to network in Toulouse’s Aerospace Valley. They will take the zero-gravity flight in Bordeaux.
The CEO and co-founder of Wright Technologies, Kosta Canatselis, said –
“We’ve got some meetings scheduled with some big defence companies, and we’re hoping to establish some networks in that Aerospace Valley in Toulouse, so hopefully something comes out of it to help get the ball rolling.”
He said –
“We’re working on being able to understand what device is where with absolute certainty with something called proof-of-location.”
“In the context of air safety and security, airspaces at the moment are very closed off and restricted because of the danger of having drones there and not being able to understand where they are.”
Also, the startup is a finalist in next month’s $100,000 Blockchain Innovation Challenge as part of the ADC Global Blockchain Summit. The Summit will take place in South Australia from March 18 to 20.
According to the Wright chief executive officer, his tamper-proof blockchain technology would be valuable in applications dealing with the cargo of high-value goods.
He mentioned –
“With autonomy, as soon as you can start increasing the level of trust between different stakeholders you can start letting go of human interaction.”
The blockchain is an immutable ledger where all the actions are recorded in a chain of blocks, and you can start seeing things like a drone delivering something to a house. It proves that it has been to the house releasing payment and stuff like that.
“Proof-of-location is a problem that exists — there are a few other companies trying to do it as well — but our big differentiator is that we can operate on resource-constrained devices such as drones and small devices that other competitors out there aren’t able to do.”