Despite having been launched a couple of years back, the blockchain technology has created a fuzz in 2018. Major financial institutions and investors have reaped huge benefits especially when it comes to assets.
According to Transparency Market Research, the blockchain technology market is anticipated to hit the $20 billion mark by 2024. This signifies that the trend is likely to make headlines in 2019 as mobile applications set to capitalize on the decentralized currency platform.
You should also note that app developers will be keen to tap into this opportunity. One of the ways to achieve this is by making the technology accessible to more people and investors. That is why you should be attentive to follow this field.
With more complete drone legislation coming, and an increasing number of industries using drones for more and more applications, adoption of this technology will continue to grow in the coming years. At the same time, the marketplace for drone operators is basically a regional and one-to-one market: while large quantities of drone imagery may be captured, lots of it is used only once or never at all. This means it can´t—or won´t—reach a potentially larger customer base if it is not offered through some sort of platform or marketplace that makes the data available outside the local region where seller and buyer are located.
The Soar platform intends to fill this gap, offering tools for both demand-driven and supply-driven drone content worldwide. Soar uses the cloud to host data, and transactions are realized through smart contracts based on blockchain technology and are paid using an Ethereum-based cryptocurrency.
Soar’s intent is to create a dynamic super-map of highly detailed drone imagery that covers the entire planet. This map can bring geospatial functionality to blockchain protocols that currently lack it. The map uses 2D heatmaps to show buyers and sellers of drone imagery where in the world there is a demand for mapping data, which in turn can form an incentive for users to map these areas and sell the resulting drone data through the platform.
The idea of a dynamic, world-covering high detail map of drone data is comparable to what satellite imagery providers are offering, but with a higher level of detail. The platform will hold multiple data types: still imagery, video content at different resolutions, areal maps with a birds-eye view and multi-spectral, lidar, and thermal imagery. Soar’s map uses a quadtree grid cell structure to present raster mapping data to the client.
- Greater transparency. Transaction histories are becoming more transparent through the use of blockchain technology.
- Enhanced security. There are several ways blockchain is more secure than other record-keeping systems.
- Improved traceability.
- Increased efficiency and speed.
- Reduced costs.