In a significant development for the aviation sector, Korean Air has forged a research partnership with Stockholm-based startup Wingbits to enhance its air traffic coordination system, known as ACROSS. This agreement will provide Korean Air’s R&D division with access to real-time ADS-B data across the Incheon Flight Information Region (FIR), North America, and Europe, aiming to improve the integration of drones, cargo planes, and future electric Vertical Take-Off and Landing (eVTOL) taxis into busy airspaces.
Wingbits operates a decentralized network of ADS-B receivers that utilize cryptographic security to offer real-time flight data. The innovative model allows contributors to earn tokens for positioning their hardware in optimal locations, enhancing the coverage and reliability of the data. Co-founder Robin Wingårdh highlighted the lucrative nature of this data-driven market, noting that while much of this information has been traditionally offered for free, robust structures supporting decentralized networks are beginning to shift this paradigm.
“The current market is strange,” Wingårdh commented. “Most of the networks operate without rewarding their contributors, while major acquisitions have often resulted in hundreds of millions changing hands without benefiting the community.” He underscored that proper incentives are what differentiate Wingbits from its competitors, leading to superior antenna coverage in critical areas.
The partnership with Korean Air is particularly timely, as the airline explores advanced air mobility solutions. Wingårdh anticipates that the demand for low-latency and secure flight data will only intensify. “We believe that flying taxis, cargo drones, and an increased number of airborne objects will require an upgraded tracking infrastructure, which currently does not exist.”
This collaboration marks Wingbits’ inaugural partnership with a major airline, showcasing a growing recognition among traditional carriers of the potential benefits offered by decentralized infrastructure. For Wingbits, this partnership serves as a pivotal experiment in transitioning from a blockchain-centric model to establishing a foothold in mainstream aviation.
In market news, Bitcoin is trading at $112,730, struggling to maintain momentum despite substantial ETF inflows exceeding $385 million on September 18-19. Ethereum has seen sharper declines, currently trading near $4,200, although it also attracted over $260 million in net inflows during the same period. Analysts suggest that Ethereum is more vulnerable to shifts in market risk sentiment, despite its strong long-term fundamentals.
Gold prices have reached record highs, driven by expectations of interest rate cuts from the U.S. Federal Reserve, increased central bank demand, inflation worries, and geopolitical tensions. Meanwhile, U.S. stock futures closed flat, with both Dow and S&P 500 futures dipping by 0.04% as investors remain cautious in the face of potential market risks.
Additional developments in the cryptocurrency space include CleanSpark’s rise following a $100 million Bitcoin-backed credit deal with Coinbase Prime, and new updates from MetaMask and Ethereum Wallet Rainbow regarding their token activities and launches.
