Drone technology is moving at an incredible pace, whereas regulations at a federal and state level continue to move slowly. Drone regulations is a large job with many different aspects to take into consideration. No one wants to be held accountable for a drone accident, so it’s important that rules and regulations are put into place to help prevent potential disasters. Boeing Company thinks they have the solution for drone regulations which entails the use of Artificial Intelligence (AI) and blockchain technology.
Boeing recently announced that it has created a new department, NeXt, that will focus exclusively on drone technology and advanced propulsion systems. They are partnering up with SparkCognition on this new venture, with the goal of solving the aerial traffic control problem that has been plaguing drone technology since its inception. Boeing has invested considerably in SparkCognition, investing $32 million in the company via their Horizon X Venture in 2017.
Analysts have estimated that the drone market could be worth hundreds of billions of dollars in the future, making this one of the largest business opportunities since the internet came along. Drones definitely cover a large market that many companies will benefit from around the world and Boeing’s new solution to safely manage millions of drones may be what the industry is looking for.
Blockchain technology, which is the same technology behind cryptocurrencies such as Bitcoin and Ethereum, are thought to have more applications beyond digital currencies. Boeing’s proposed system will work by generating assigned aerial lanes for drone traffic, tracking the drones at all times and updating their position, bearing, speed, and more in real time. The technology will also be able to track deliveries, offering real time, instant updates to consumers.
Many experts believe blockchain technology will infiltrate every business across the planet within the next few years and Boeing’s announcement has been accepted across the aviation industry and with investors alike, with their stock climbing since the announcement. The future looks bright not only for Boeing, but for drones, blockchain and virtual reality…3 huge industries that are still in their infancy.