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ICO Mcfly, Creating An Ecosystem From New Transport Developers To Future Passengers

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  1. zedzed

    zedzed Grand Mod

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    “Banking and payments aren't the only industries that could be affected by blockchain tech. Law enforcement, ride hailing, and charity also could be transformed.” — said the subtitle of a publication by CBInsights called “Banking Is Only The Start: 27 Big Industries Where Blockchain Could Be Used”.

    What is McFly?

    IMG_20180506_230653_004.JPG-Mcfly, Creating An Ecosystem From New Transport Developers To Future Passengers

    McFly.aero is a Technology and Business Incubator on the emerging urban air taxi market that incentivises companies and people work together to deliver more affordable urban flight sooner than possible and in more cities.

    Aims and Strategy

    “Blockchains may teach us more about governance in the next 10 years than we have learned from the “real world” in the last 100 years. … Two Critical Components of Governance: 1.Incentives, 2. Mechanisms for coordination” —

    Blockchain Governance: Programming Our Future – Fred Ehrsam – Medium

    The McFly.aero Incubator develops a decentralised system of IoT (Internet of Things)
    comprising elements of infrastructure of city aero taxi, created to:

    − Safely plug in devices (eVTOLs, landing pads, chargers) to one network

    − Convert technological resource of such devices into service, tradable realtime

    − Provide for the standard interaction “man-machine” and “machine-machine” on the basis
    of smart contract.

    − Upon development and deployment of mcfly.aero it shall become possible to connect 1)eVTOLs 2) landing pads and 3) chargers to the market of direct sale of services, such as

    a) passenger transport, b) charge, maintenance and repair and c) dispatching flights in every city.

    Therefore there are several aspects of McFly.aero activities that are subject to governance.

    1. Platform for “tokenization”: order registration, performance and reward for useful functions of the IoT city network of mass passenger aviation like chargers, landing pads,VTOL vehicles,
    sensors, call/order and dispatch services,
    systems of settlements between the participants (persons and machines).

    2. Incentive scheme: the token for city
    community members preparing the infrastructure and the market for aero taxi services including evangelists, lawyers, certification bodies,entrepreneurs owning landing pads, chargers, or fleets of flying vehicles.

    3. Technological consortium: alliance of business players interested in development and
    work in the new market of passenger aviation with value above 1,2 trillion USD per year.

    4. New economic relations: crypto enthusiasts and proponents of decentralised approach
    to community cooperation to solve major challenges through incentivised volunteering to
    avoid the bottlenecks of the traditional organizations.

    5. Global network coordination: separate systems will emerge in cities with differing
    economic conditions (comparative prices for different components), differing regulatory
    conditions (requirements to different system components), but these will be built on unified principles. Decentralisation may allows to attract more people and technical resource of devices to the networks within the shortest time frame under conditions of fair reward for the use of those devices and services from people.

    Technology consortium

    IMG_20180506_230747_017.JPG-Mcfly, Creating An Ecosystem From New Transport Developers To Future Passengers

    Blockchain.aero Consortium will provide the complete package of technologies for the urban air taxi grid.


    {filename}-Mcfly, Creating An Ecosystem From New Transport Developers To Future Passengers{filename}-Mcfly, Creating An Ecosystem From New Transport Developers To Future Passengers
    Problem

    Last year urban air taxi infrastructure was
    tested in Dubai, while automakers invested
    hundreds of million dollars into the passenger
    electric VTOL manufacturers. Emergence of
    air taxi infrastructures in the world’s largest
    cities is a matter of months. However, a
    whole new market of mass urban air taxi
    worth over 1 Trillion USD has only a handful
    of places for entrepreneurs to acquire support,
    investors to get guidance, experts to sync-up,
    or regulators to receive feedback.

    Specifically, technology developers need to
    develop standards and products that will be
    mass-deployable as a tightly-knit bundle,
    interchangeably, to comprise the grid that
    serves flight-per-order in a multitude of local
    environments and regulatory requirements.

    Solution

    McFly.aero is a technology and business
    incubator. It offers the benefits of a global
    expert and entrepreneurial community, as
    well as portfolio investment strategy. It aims
    to incubate businesses that will sell and
    operate passenger transportation, as well as
    related products, technologies and services
    along the end-to-end value chain that spans
    from R&D for aerial vehicles to landing pads,
    mobile apps and additional services, which
    can be sold by the grid.


    Blockchain Technology(Mcfly)

    IMG_20180506_231024_198.JPG-Mcfly, Creating An Ecosystem From New Transport Developers To Future Passengers

    One: Blockchain for Transport

    “Banking and payments aren't the only industries that could be affected by blockchain tech. Law enforcement, ride hailing, and charity also could be transformed.” — said the subtitle of a publication by CBInsights called “Banking Is Only the Start: 27 Big Industries Where Blockchain Could Be Used.”

    For the car leasing and sales industry, the report quoted a use case already developed: “The
    prospective customer chooses the car they want to lease, and the transaction is entered on the blockchain’s public ledger; then, from the driver’s seat, the customer signs a lease agreement and an insurance policy, and the blockchain is updated with that information as well.”

    Another solution “makes its own proprietary digital currency — like bitcoin — which is recorded digitally using blockchain technology. Instead of using a centralized network to call cabs, people may use the [decentralised system for] finding other people traveling similar routes and exchanging coins for the rides. These coins can then be used for future rides. Users earn (or
    “mine”) these coins by letting the app track their locations.”

    Two: Blockchain for IoT

    IoT was quoted as another industry enabled by blockchain, mentioning use cases developed by
    several groups. In one solution, “a blockchain would serve as a public ledger for a massive
    number of devices, which would no longer need a central hub to mediate communication
    between them.” Another solution is, “a decentralized network using the blockchain (among other things) for sensors to communicate with each other.”

    Three: Blockchain for aviation

    According to Accenture in its report, “Beyond the Buzz: The potential of Blockchain Technology for Airlines”, there is a very strong similarity between the airline industry operations and what blockchain technology has to offer. Therefore “it is fair to say that blockchain and other distributed ledger technology has the ability to improve transactional flows, improve trust and provide immutable record retention”. It further states, “Using blockchain technology for
    enhanced reconciliation and data sharing is a compelling value proposition for this industry.

    The most creative and disruptive possibilities go beyond pure financial transactions.”
    Capco, the global business and technology consultancy for the financial services industry, has conducted a report for the International Air Transport Association (IATA). The research focused on determining how blockchain may be used by the airline industry. They have concluded that blockchain can make the industry faster and more cost efficient, enhance customer experience and the value of the industry.

    “Blockchain is a disruptive technology and represents a great opportunity for digital innovation.Every single industry, from the financial sector to aviation, is trying to understand where this,technology will best fit and where to start the innovation journey.

    Distributed ledger technology –including blockchain – is already proven to reduce transaction fees when transferring money
    across borders and currencies.That represents a great promise, particularly for global
    businesses and industries.” Assad Mahmood, senior consultant, Capco.

    “The value of having a single ’source of truth’ that all business partners trust can dramatically
    simplify reconciliation, invoicing and settlement in our industry,” commented Juan Iván Martín,
    IATA head of Innovation, Financial and

    distribution Services.

    The German airline Lufthansa has introduced the BC4a initiative to bring together software
    developers, aircraft builders, MRO (Maintenance, Repair and Overhaul) service providers,logistics, leasing companies and regulators and develop the use cases for blockchain in such areas as identity management, security, ticketing, loyalty, luggage custody-change tracking,maintenance, air cargo, other use cases, such as: in-flight entertainment, traveller compensation, flight planning, etc.

    “Blockchain technology will continue to take flight in airlines over the next decade. Use cases
    not even conceived of today will become every day, reducing complexity and costs while
    improving the travel journey with real-time travel experiences,” summarises Accenture.

    Token Implementation

    The McFly token is a reward for human and
    machine services within commonly shared
    marketplaces — the business and technology
    incubator (now) and the air taxi marketplace
    and management system (later). The McFly
    token is a unit of value, which reflects
    development of the concept, participants, the
    Incubator and the industry as a whole. The
    McFly token is also, technically, a measurement of, and a right to, 1 minute served by a grid-connected aerial vehicle developed by Consortium participants. Thus,it has intrinsic value as a unit of measurement for device use, record of rights to use, a ticket to ride, an ignition key, and a unit of billing for any service available on the incubators’marketplace from humans or machines

    McFly.aero Token Launch

    IMG_20180506_231139_225.JPG-Mcfly, Creating An Ecosystem From New Transport Developers To Future Passengers

    A total of 1.8Bn McFly Tokens (hard cap) shall be distributed during the Token Launch Phase 1,
    corresponding to the commitment of 3000 Bartini flying cars into the emerging grid, which
    represents 6% of the planned first year’s mass manufactured vehicles. Remaining flight of
    47,000 Bartini vehicles shall be tokenized to match the output of the first year of mass
    production. Aerial vehicles from other manufacturers, further production years may also be tokenized on McFly.aero for the benefit of the decentralized mass urban aviation market.

    Total flight of one 4-seater is 700,000 tokens and of the 2-seater is 500,000 tokens. This means that a holder of 700,000 McFLY tokens will be able to "lock" the entire lifecycle of a 4-seater Bartini (or 500,000 McFLY tokens for a 2-seater) all for himself, resulting in effectively owning the aerial vehicle. It is assumed that equal amounts of 2- and 4-seaters will be contributed at the initial stage. Other vehicle manufacturers may introduce different pre-tokenization programs within McFly.aero Incubator.

    Of the 1.8Bn tokens 70% shall be available for distribution, including the 15% bonus pool to
    incentivise larger contributions. 10% of tokens shall be vested to the incubators most active
    community members (team), 5% to advisors, 5% shall be available for bounty programs, of
    which 2% for online activities and 3% to incentivise offline activities in the key cities, 1% shall be airdropped and 9% shall be reserved.
    There is no soft cap for the Token Launch Program. The participants-aircraft manufacturers anyway must have

    1) a technology to measure wear and tear for billing purposes,

    2) an opportunity for direct access to the far larger market of air transport services, which gives the general understanding that the project will move further and be supported by the Technology Consortium. The wider the Token Distribution’s reach is, the more cities will be participating, the more geographic coverage, the better adaptation to the local circumstances there will be for the McFly.aero Incubator.

    McFly.aero Incubator

    IMG_20180506_231155_356.JPG-Mcfly, Creating An Ecosystem From New Transport Developers To Future Passengers

    McFly.aero Incubator allows to exchange tokens of other blockchain development and, broader
    speaking, decentralization focused communities for McFly Tokens. Therefore a holding of various
    tokens may emerge as result of such exchange. That holding may be expressed in
    different denominations. Such denominators may be subject to volatility, temporary availability,various levels of distribution and acceptance in various communities.

    McFly.aero Incubator uses McFly Tokens and other cryptographic tokens in various
    communities to incentivise activities pushing forward the common cause— emergence, deployment, operation and maintenance of the Air Taxi Management System and Marketplace in majority of cities worldwide.

    More specifically, the Incubator distributes its efforts, focus and token holdings on the following activities:

    ● 30% for the aircraft development and integration;
    ● 13% for infrastructure development in the cities;
    ● 10% for the Blockchain and software development;
    ● 10%for general operations and administration;
    ● 9% for awareness building in the public relations;
    ● 8% for managing communities, 6% for government relations and policy advice;
    ● 5% for scientific research;
    ● 5% for unexpected items;
    ● 4% for general legal matters.

    The goal is to incubate technologies and businesses, incentivised by McFly tokens as the core value for the air taxi management system and its users: entrepreneurs and passengers. The more leverage in terms of attention, contribution, participation, the project attains, the more cities that will be included, the more participants in the consortium, the more depth and overall inclusion in each line of work.

    The Consortium has grown from 0 to 10 companies in half a year, of which 3 are aircraft
    developers. The Community has grown into more than a thousand participants with more
    than 10,000 goal-oriented tasks having been fulfilled through the McFly token-enabled
    incentive marketplace.

    The nearest milestones on the roadmap for 2018 are:

    1) perform a public awareness campaign and McFly token distribution

    2) showcase emerging aircraft prototypes from Consortium members operated through a
    blockchain-based software, and test mobile app.

    3) grow the number of Consortium participants, McFly chapters in cities, participants in
    chapters.

    Tokenomics

    IMG_20180506_231059_262.JPG-Mcfly, Creating An Ecosystem From New Transport Developers To Future Passengers

    1.8 Bn McFly tokens are issued during the Token Launch Phase 1 at roughly 0.2 ETH per 1000
    McFlys according to a Pre-Flight tokenisation program. 30% of which is for team, advisors,
    bounty and reserves. 70% is for Token Launch backers. This amount of McFly tokens is largely
    based on the commitment of Bartini (one of Consortium participants) to contribute the total
    available flight resource from 3000 vehicles into the system. Tokens may be issued on various
    platforms to raise awareness among communities and test blockchain protocols, one or several of which will ultimately serve as the core technology. All McFly tokens are 1:1 fungible.

    The total number of tokens shall be capped by the amount of total flight committed to the grid by aircraft manufacturers. 1 McFly token averages to 1 minute of technical flight to be provided by the vehicles only. Such commitments establish the intrinsic value of the token. When mass manufacturing starts and infrastructure is deployed in one city, the total number of McFly tokens shall be capped with relation to the factual amount of flight-minutes available in the system from all connected vehicles. The token is used to reward both humans and devices for their contribution to orchestrated flight.

    A token is therefore an incentive mechanism in what may be categorised as a marketplace,
    where people and devices sell their services to people and devices. The market incentive
    motivates building, adoption, use and expanse of the system (at MVP stage, the introduced
    human-2-human dimension of the marketplace has already incentivised rapid growth of the
    McFly.aero Incubator corporate partners and entrepreneurs.)

    Official Links

    IMG_20180506_231044_360.JPG-Mcfly, Creating An Ecosystem From New Transport Developers To Future Passengers

    Website McFly.aero — Blockchain-based infrastructure for flying cars — Token

    Telegram McFly.aero

    Twitter Mcfly.aero (@mcflyaero) | Twitter

    Facebook McFly.aero

    Ann thread [ANN] MCFLY.AERO: Decentralized Flying Cars Infrastructure. Token Launch Phase I

    Whitepaper McFly.aero — White Paper

    Reddit McFly.aero — Affordable city flights for urbanites • r/mcflyaero
     
    Last edited: May 7, 2018
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