SKYFchain – A Drone Project for B2R Transactions

Previously, you have read about the roadmap of the SKYFchain project. Besides, the team member has been introduced, too. Here, you will learn more about the market and business model of the platform.

The Business Model

The current logistic business processes are still designed with human intervention in mind. In the near future, robots will be able to work on their own, eliminating individuals to control them. This is possible due to the development of IOT, Artificial Intelligent (AI), and autopilots for cargo robots. The will save great money. For your information, the costs in logistics largely spend on labour which can take around 50%. SKYFchain OP is planning to create a business model that will regulate everything from investments, risk management, control, and insurance.

Soon, the system that connect the cargo robots will grow, automatically followed by the increase of transactions within the operating platform. Due to the increasing number of transactions, the system will require more tokens in order to execute the smart contracts. It is hoped that clients will use either cryptocurrencies or fiat and SKYFT tokens from crypto exchanges. The company is planning that SKYFT trading can occur at minimally four exchanges so that liquidity required for platform operations can be established.

The Market of Drones

Why drones? The answer is simple. According to PWC, it is estimated that the addressable value of drone in all applicable industries has reached 127 billion USD. This exponential investment's growth is one of the reasons why SKYFchain is pretty convinced about the prospect of the business. Additionally, the service market size for SKYF drones in the sectors of logistics, infrastructure, and agriculture is estimated to 100 billion USD. In less than three years, SKYF drones will be able to give services in these industries.

Not only will the high demand come from those aforementioned industries, until today, SKYF has got letters of intent from big companies of different sectors such as oil & gas and agricultural industry. Giant companies such as NGK, PAO SIBUR Holding, Prodimex, Syngenta AG, and many others, are willing to use drone services provided by SKYF. The SKYF platform will invite more industry participants and it is very likely that more participants will join due to the high demand for drone services and the lack of satisfying drone solutions available at the moment.

Token Sale Information

The ICO sale is coming soon in May 2018. From the sale, the company can collect some funds. The funds will be used for various purposes related to the project development. For example, they will be used in R&D, marketing, operation, and administrative area. However, the fund allocation plan may change depending on how much revenue that can be earned from the sale.

It should be noted that there are some risks of investing in ICO. In mitigating the risks, SKYFchain has already taken some measures. For example, it utilizes legal entity registered in Estonia. This country is known to have favourable blockchain regulation. In addition, SKYFT tokens are all compliant with SEC of the US. To add more safety, SKYFchain will also allow developers to test and polish the system.

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• Maiyah
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