US: Red Cat Holdings (OTC: RCAT), a leading provider of distributed data storage, analytics and services for the drone industry, today announced it has partnered with GoChain, a provider of scalable blockchain solutions for enterprises, NGOs and nonprofits. As part of this partnership, Red Cat will integrate its blockchain black box and distributed storage system onto the GoChain platform.
Red Cat developed the industry’s first blackbox flight recorder and distributed system for drones with security and encryption that regulators and insurance companies can trust. The platform includes several integrated systems that enable industry regulators to track and review drone flight data, insurance companies to insure drones with reliable third-party data, and pilots to ensure they stay compliant with regulators.
“In 2018, Red Cat set out on a mission to build the first native blockchain black box analytics platform for the drone industry. We are pleased to announce we have delivered on that mission,” said Jeff Thompson, CEO of Red Cat. “With Amazon, Google and UPS currently building large commercial drone fleets, we believe our analytics platform will provide security and data transparency for the entire industry. Experienced partners like GoChain allow us to immediately and easily deliver the technology to our customers with speed and scale, a crucial step as we move towards our commercialization later this year.”
GoChain will provide the infrastructure for Red Cat’s distributed storage where encrypted drone data (GPS coordinates and logs, video and photos, telemetry logs, etc.) is secured and stored on a blockchain, enabling compliant operations and data privacy for pilots. The reason for blockchain is the increased need for solutions that regulators, insurance companies, pilots/enterprisers with drone fleets, and drone service companies can rely on for immutable data—especially with the increase of FAA approvals for commercial drone deliveries.
“With more companies like Amazon testing drones for delivery, Red Cat’s black box technology is critical to receiving approval from aviation regulators around the world. GoChain is proud to provide Red Cat with a blockchain platform that will facilitate their data transfer and streamline the distribution and exchange of data to B2B partners while ensuring compliance,” said Jason Dekker, CEO.