It has become necessary to provide these updates on the Bastonet Project. The Project Team has been steadily working on this project in the following areas:
- Comprehensive and Professional development of the Whitepaper
- Selection and appointment of advisors and addition of new developers
- Token Swap
- We have been listening to feedback from the community and we have accepted your proposal that the project name “Bastonet” should be aligned with the same name as the project token. Hence, a new token swap for the project will be implemented for both the coinexchange.io wallet and all tokens held on the private wallet.
- New Investors have been admitted into the project and these are long-term holders of the project token
- New security and token fuel feature have been incorporated into the new swap token to ensure safety and security. Also, fuel cost/transaction cost coverage has been built into the new BSN tokens for future internal transactions.
- There will be further listing on more exchanges to enhance liquidity and participation
- An algorithm shall be implemented to transfer new swap tokens to both exchange and private wallets.
Further updates shall be provided please follow us on Twitter @bastonetproject
Bastonet Token Now Listed on Crex24 Exchange
The Bastonet Token BSN is now listed on the crex24 exchange. Please note that this is the first stage of the swap listing on the new exchange. The swap listing on coinexchange.io is in process. Another exchange announcement will be made shortly.
The Blockchain Technology.
Blockchain technology has brought so many innovations and opportunities with its decentralized and distributed confirmation infrastructure and algorithm. It uses a flexible cryptographic protocol that enables the production of a shared public ledger that allows various computer nodes to perform reconciliation block mining operations that are consistent, irrefutable and mutually acceptable to all stakeholders.
BASTONET PROJECT seeks to engineer the use of Blockchain in the airline and travel industry. It will ensure that the airline industry operates at optimal efficiency, cutting out data redundancy downtime, and enhancing the overall experience for all stakeholders at the level of consummate excellence USING REAL TIME ENCRYPTED information transfer.
The State of the Airline Industry.
Transfering data without any mistake or errors and acceptability of the data are the backbone of the airline industry.
In transferring data across the value chain which includes travel agencies, airlines, tours and travel operators, hotels, online travels platforms, airport and changeover terminals, travel card providers, immigration, government, car rental agencies and more, a lot of data changes hands and the sanctity of this data determine the success of the industry as a whole. The need for data integrity means that anything can go wrong, from safety and mishap to loss of revenue by airlines. Also, issues with passenger and crew management can jeopardize the operational value chain when the data transfer process is compromised in any way. Smooth data exchange is of the essence
THE BASTONET TOKEN, BSN
There shall be a total of only 50,000,000 Bastonet, BSN tokens in operation powering and fueling operations in the Bastonet protocol network application. At the initial stage, only 10,000,000 shall be in the circulating supply. This will trade in major cryptocurrency exchanges. The BSN token is based on the Ethereum network, and it will be utilized in the Bastonet Application in the booking and ticketing processes of airlines, and in the transfer of data and value within the network in association with other airline services like air cargo movement, crew management, passenger data transfer and aircraft maintenance scheduling, loyalty programs, etc.
USE CASES OF THE BASTONET PLATFORM
Using secured public ledger information in addition to biometrics, the Bastonet application will enable the validation of people’s identities on the Blockchain. With this, it becomes impossible to impersonate or commit forgery through fraudulent replication of other people’s identities. Blockchain technology coupled with security protocol ensures foolproof passenger and crew data management since sharing of information is executed through the use of authorized access by individuals whose imprints on the blockchain network is verifiable.
All future changes in an aircraft’s lifecycle, from the initial purchase to every transfer of ownership or lease and maintenance event will be tracked on the Bastonet Application — providing an irrefutable record of service. The Bastonet application will use Blockchain technology to transform maintenance from paper binders and complicated databases into verifiable information on the blockchain. The app will help the industry ensure that parts procured are legitimate and can offer a reserved immutable record of all procurement of spare parts on the plane, every time it goes through the maintenance schedule. Such records will validate the time and location of repairs and provide information on such entities involved in the maintenance work, from the beginning of the aircraft’s existence.
The Bastonet Application will use the blockchain to tokenize tickets and e-tickets and further dematerialize these tickets for irrefutable sharing of information across various touch points of travel. Through the use of smart contracts associated with the tokenized tickets, airlines will be able to determine the various preferences of usage, terms, and conditions of transfer and sale by anyone across the value chain, and in real-time, from any location in the world in a secure, fast and efficient structure.
Loyalty and Air Miles Reward Programme
Air miles as a currency shall be replaced by the BSN token. Instead of ‘earning’ miles, the Bastonet platform will allow customers to buy them using the Baston Tokens, BSN, in the same way, they can exchange currency today, or could earn them outside of flying alone if they select to be paid in air miles denominated in BSN tokens for services. In traditional loyalty point schemes, travelers often have a long waiting time before they can use their points, with limitations on spending avenues. By tokenizing loyalty points on the blockchain using the BSN tokens, travelers can get instant value by redeeming them on the spot. They can also use them more broadly through a specific user community of partners since these tokens will be traded on exchanges. The BSN tokens will be used in paying for goods and services in a secure and fast way.
Other use case areas of the Bastonet App will include:
- Airport Collaborative Decision Making (ACDM)
- Airline Ancillary Revenue Generation
- Management of In-Flight Entertainment
- Fast Insurance and Compensation Management
- Flight Planning
- Chattering Services
- Luggage Handling and Control
- Cargo and Custom Clearing etc.