When you fly on a commercial airline, your booking is handled by large scale centralised industry platforms which benefit from the transaction security of clearing houses. Private aviation, an industry with revenues of over $20bn and forecast to rise to more than $33bn, lacks such centralised platforms, instead relying on vulnerable and unsecured methods of operation.
According to Richard Mumford, Chairman of BACA (Baltic Air Charter Association), the industry is facing numerous challenges: transaction management; payment restrictions; foreign exchange; cybercrime; intercepted payments; and customer privacy. He says:
“We were investigating the creation of a centralised industry clearing house for transactional security. Instead, Volavia solves key industry problems with a dedicated decentralised blockchain platform.”
The meta-trends impacting private aviation today...
Cyber attacks occur on daily basis and cost the industry millions. Contractual and payment chains are vulnerable to hackers using stolen financial information or looking to intercept transactions and redirect funds.
Inflexible payment methods; exchange rate fluctuation; expensive, slow banking systems; and lags between booking and payment, erode margins, result in lost journeys and frustrate customers and operators.
Systems including CRM, invoicing software and email clients are highly vulnerable and attractive to hackers. Data breaches compromise customer confidentiality, damage reputation and can destroy a business.
Volavia will make private travel payments and itinerary management more accessible, safe and convenient than ever before.
Volavia will not compete with existing search, availability and booking service providers. Instead, we will bring these systems together on a decentralised and fully integrated platform.
Volavia consolidates banking, contracts and communications, many of which are currently unsecure and unvulnerable, putting to an end having to access multiple applications in order to fulfil a transaction. Blockchain, by its very nature, removes the attack surface hackers rely on, mitigating risk and optimising efficiency.
Volavia integrates fiat and cryptocurrencies, making the process of trading tokens into fiat currencies and transferring capital quick and simple. Bank clearing houses are removed from the payment chain through peer to peer blockchain transactions, eliminating bank delays, credit card fees and FX exposure. The ability to send payments instantly and 24/7 which cannot be revoked, tackles the issue of fake payments and diverted funds.
Volavia Smart Contracts capture bookings, itinerary and payment details on-chain. This provides protection and transparency to all parties, removing the risk of manipulation, bias, or error. This saves time, eliminates gaps in communications and negates having to process documents manually from the ground up each time.
The customer app environment handles all transactions and itineraries in one ecosystem, ensuring privacy and confidentilaity are never comprimised.
Feedback from key figures within the industry:
If we had only one utility token for contributors and transactions, the token’s value would be diluted every time more tokens were minted.
It will be stabilised using an SDR (Special Drawing Rights) basket of currencies and automated reserves and rebalancing algorithms.
“$1m dollars bought in AERU today will still be worth close to $1m in the future”.
Contributors will purchase VOL tokens and will become true stakeholders – contributors, brokers and operators, staff.
VOL token supply will remain scarce and will not be diluted as millions and billions of AERU are minted as the industry grows to serve their transactional purpose.
Staking Rewards mean VOL token holders are rewarded for holding an active ‘stake’ in running the ‘consensus’ protocol for the Volavia network. This encourages the policing of the platform and penalises holders who don’t. Effectively contributors earn their rewards for doing work, rather than merely being a share token holder.
Revenue introduction network rewards will reward VOL holders who introduce people who transact within the ecosystem. The proportion of rewards for staking and introductions will depend on size and age of holding.
|Supply||600,000,000 VOL Tokens|
|VOL Token Price||1 VOL = USD $0.25|
|Accepted Currencies||ETH (for Fiat please contact us)|
|Minimum Purchase||USD $50 ,000|
|Token Standard:||Ethereum ERC-20|
|Restrictions||United States of America, People's Republic of China (except for Hong Kong, Macau and Taiwan), South Korea, Cuba, Iran, North Korea, Syria, Crimea Region|
|Phase 1:Pre-sale – Limited HNW, Institutional & Funds||80% Discount|
|Phase 2:Public Sale – Limited HNW||50% Discount|
|Phase 3:Main Crowdsale||0% Discount|