SKYFchain : The New Operating Platform for Cargo Robotics Industry

- Juni 10, 2018

About SKYFchain

SKYF is the world’s first industrial grade heavy cargo drone. We partner with our current clients in oil&gas, agriculture and logistics to make SKYFchain reliable and easy to integrate into today's supply-chain.

20% of revenue for the first 1000 drones sold will be used to buy back SKYFT tokens (the equivalent of $50-70M) and fund the development of the SKYFchain Operating Platform.

SKYFchain has exclusive rights for mission planning, verification and operations support of SKYF drones.

The project

The SKYFchain project can be divided into two sections. First, the development of their own drone hardware, which is to be used in the logistics and agriculture for transport purposes. This is an already operational, patented Hexacopter with two gas driven main rotors and 4 smaller control rotors. Overall, the drone can carry a maximum weight of 250 kg and has a maximum range of 350 km under load of 50 kg.

The second section refers to the blockchain architecture that is the heart of the system. Token Sale uses an ERC-20 token. In the long term, the token should run both through the Ethereum, as well as a closed private block chain. The additional private blockchain is intended to simplify development and support, and to decide on the best solution for individual problems. The focus is on the ability of the system to manage trusted data and control over unmanned assets of customers via smart contracts. These include: logistics companies, insurance companies, leasing companies, banks or government agencies. By using the SKYF token, they should have significant cost savings in payment transactions and the rights of use of the drones on the Blockchain be regulated. Although the tokens are issued in the Ethereum Blockchain, they are also fully utilized in the SKYFchain. In order to ensure the synchronization between the private and the public Ethereum Blockchain, payment channels, similar to those of the Lightning Network at Bitcoin, should be used. In this case, a connection between the SKYFchain and the public Ethereum network is set up by means of a special transaction (payment channel). This procedure allows an extremely fast execution of the transactions.

It is not yet clear what the SKYF blockchain should be based on, but three options are used:

Forge Ethereum Blockchain
Self-developed Blockchain
Exonum Libraries or an instance of the R3 Corda

Blockchain Another interesting fact is that the transaction fees should be split across multiple instances:

50% goes to holders of Super Nodes
25% goes to the Token Holder
25% to the Community Development Fund

The Community Development Fund is used to reward partners and developers and to further expand the system.

In addition to its own SKYF drone, other autonomous transport systems are to be integrated into the system over the long term. These include autonomous trucks as well as transport ships and much more.

SKYFchain Operating Platform technical details and economics

Blockchain concept for the SKYFchain OP

SKYFchain architecture is based on two building blocks:

SKYFchain blockchain itself -private permissioned blockchain customized for the most effective usage in the industry;
Ethereum ERC-20 SKYFT tokens-based perimeter of public blockchain for processing and settling SKYFT tokens transactions and communicating them back and forth with SKYFchain. Private (permissioned) blockchain is required to simplify the development and support and give an opportunity to choose solution most appropriate for each particular task. More over we want to be independent of the performance of public networks (e.g. scalability issues with Ethereum) and not wait for transactions to be committed in public network. At the moment we are considering three different approaches for the SKYFchain: creating our own Ethereum fork, SKYF-specific custom platform, built on top of either Exonum libraries or instance of R3 Corda blockchain.

All tokens issued at public Ethereum network at the ICO stage are ERC-20 compatible and can be bought and sold on stock exchange. So we keep them in the public Ethereum network. At the same time these same tokens are going to be utilized as a cryptonomic fuel for the permissioned SKYFchain, so it essential to synchronize balances between public Ethereum network and the SKYFchain.

Pre-ICO and Terms crowdsale

Pre-ICO will belaunchedon 1st of March 2018 Join the white-list to receive a 40% discount on your SKYFT tokens!

The pre-ICO targetis $1 000000.
The pre-ICO hard cap is $2000000.Only 51300000 SKYFT tokens is reserved for Pre-ICO.
Minimum tokens purchase volume is 3000 SKYFT. Collected funds will be stored on several accounts to limit potential impact of an attack byhackers. We accept contributions in ETH and BTC. If you want to contribute BTC, you still need the ETH address in order to receive tokens.

ICO is planned to be launched in May2018Exact ICO dates are to be announced.

ICO hard-cap is $30000 000.
The final SKYFT token price at ICO will be $0,065.528000 000 of SKYFT will be available for purchase at ICO.
Unsold tokens will be burned. For each SKYFT token sold at the crowdsale 1,27 tokens will be created and will be split between special token funds (see pie chart below).Thus the maximum number of tokens is 1200000000 SKYFT.

PROJECT ROADMAP

2014 — 2017
design and manufacture of SKYF cargo drones attracted $5M; successful aerodynamic tests; fully autonomous flights in Q4 2017

2018 — 2019
development of the private blockchain; creation of the international legal structure; sales of first SKYF drones and expansion of the partner network to regions without strict regulation of cargo drone flights (CIS, Asia, Africa)

2020 — 2022
rapid growth of SKYF drone sales; inclusion of third-party drone data into SKYFchain; lobbying for new regulations in developed markets

2023 — 2025
connection of ground and sea cargo robots into the system; passenger drones to follow