Aeron (ARN) caught air on some good news this weekend, soaring over 50% in a 24 hour period. Achieving a price of nearly US $.64 at its peak, this little-known altcoin led the fleet of cryptocurrencies available on Binance, showing the highest positive 24-hour percentage change on October 6th.
Ranking in at number 404 on coinmarketcap.com, you can forgive yourself for not knowing much (or anything) about this platform for improving flight safety. If you happen to be one of their lucky hodlers, however, you are likely flying high on the news of your investment finally getting off the ground.
With a circulating supply of 13 million coins, and a total market cap of US $7.7 Million, Aeron (ARN) shows a total trading volume of nearly US$17 Million in the past 24 hour period.
But what is Aeron (ARN)?
Quite simply, Aeron (ARN) is blockchain for aviation safety. While flying is generally considered among the safest ways to travel, there are still over 3,000 accidents in the industry each year, putting countless numbers of lives at risk.
Over 2 Million people fly each day on over 100,000 flights globally. Whether for business or pleasure, flying has become an indispensable mode of travel for the world’s population. The need for increased safety is paramount to the industry. And Aeron believes it has a solution to the largest factor creating in-flight accidents.
Flight records have historically been manipulated for various reasons. Forged logs can give a pilot an illusion of experience, or save maintenance costs on planes and equipment in need of service. This manipulation creates a bigger problem than you may think, and until now, there has been no easy remedy to this long-standing problem.
With Aeron (ARN) and blockchain technology, distortion or forgery of log data along with data loss, are eliminated. Pilots, maintenance organizations and fixed base operators can log their verifiable information onto blockchain. Transparent information is easily communicated to authorities and safety is improved.
So what caused the dramatic rise in price?
An important roadmap milestone was reached over the past day(s) involving Aeron’s (ARN) Aviation Authority portal development. After intensive discussions with aviation authorities in the European Union, electronic logbooks were established as a recognized tool for the industry. While paper logs are still deemed necessary, EASA/FAA compliant blockchain log entries as published by the Aeron (ARN) team were well received and found complete.
As a result of these discussions, the Aviation Authority portal (a company effort to balance privacy with permission access to flight records) is now under development. This important milestone marks another achievement of the Aeron (ARN) team, in line with the company’s ambitious roadmap.
The Sky is the limit.
Aeron (ARN) can be found on a number of exchanges, including Binance, Gate.io, KuCoin, and others. The ARN token is supported by an equal number of multi-asset wallets. You can join their communities on Twitter, Reddit, Telegraph, Facebook and more.
With confidence renewed, Aeron (ARN) has found the lift necessary to get their little plane off the ground. And with fair skies projected for the remainder of the flight, investors are free to unfasten their belts and roam around the cabin. While investors should take note of their exits and mind the instructions offered preflight by the steward/stewardess, the view from the little windows on this airborne altcoin must be spectacular from these heights… and the sky, as they say, is the limit.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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