For those who are unaware, there’s a new utility token called ‘McFly’, that may be one of the more unique offerings on the market today.
For those who are unfamiliar with this blockchain project, here’s a screenshot of their project’s front landing page below to give you a better idea for what they do:
Yes, you read that correctly. This is a blockchain project hosted by an incubator. This Incubator is a consortium that includes 10 tech companies, which are the core participants, in addition to entrepreneurs from 27 different cities around the world.
It’s About Time We Got This, Right?
First, let’s address the feasibility of this idea from a scientific aspect:
Are Flying Cars Possible?
At this very moment in time? Yes. The technology has been tested and is being continuously scaled by several entities, including the futuristic car company, Tesla.
There’s Actually A Flying Taxi Company Available That’s Scheduled to Launch This Year (2018)
The German startup company, E-volo, already tested the Volocopter service in Dubai.
Here’s the actual website here: https://www.volocopter.com/en/product/
The company, Aeromobil, is another example of a corporation that has dedicated their resources towards bringing this type of technology to fruition. In fact, there are detailed graphics and other biographical information on their website that shows an alleged roadmap for the company to bring this product to fruition.
There are peer-reviewed articles that explore the feasibility of creating an automobile capable of flight that have also confirmed the plausibility of the idea. In fact, different models and methods for creating such a vehicle have been shelled out in greater depth and explored to compare the logistical differences between them both.
So What Does This Have to do With McFly?
All the information posted shows that the idea of a ‘flying car’ is far from absurd. In fact, it’s a reality at this current point in time.
It’s also a completely untapped market. So, if there were to be a blockchain that is integrated with some sort of flying taxi ecosystem, it would more than likely work perfectly.
The main website advertises that one will eventually be able to request a ride for one of these flying taxis in the same way that they would request a ride using a ride-sharing service such as Uber.
Here’s How the Business Would Actually Work
According to the https://mcfly.aero website, “1 minute of flight will require 1 McFly-token for the Vehicle to work, plus other devices on the grid will also charge for their services (electricity, landing, maintenance).”
Also, “Additional costs depend on how Entrepreneurs compete on the grid. Passengers decide how much they are willing to pay to be served first at current load. The more Entrepreneurs in your city — the lower the prices.”
The McFly.aero Incubator also offers a range of opportunities that they purport folks can use the token for, which are:
This appears to be part of the ‘use-case’ for those who wish to use the token. Rather than the token simply being used for the flights themselves, individuals that join the ‘McFly’ ecosystem can make the decision to participate directly as a vendor or through providing other services that are related to the functionality of a flying-taxi company.
This is a positive because it means that there would be a sustainable community and ecosystem.
Various Other Moving Pieces Within the Company
So, there’s a:
This concept is fueled by the idea of providing a ‘taxi service’. Since it is decentralized, operators of these vehicles can choose to charge whatever they would like for flights, naturally triggering healthy competition. Since these tokens can appreciate in value, it is more than likely that the market price for a flight, in the value of McFly tokens, will always be cheaper than what society values it at because there will always be an anticipation of future gains, which will mitigate the amount of money people would be willing to pay for such a service.
This is something that works in McFly’s favor in the long-term.
The model of erecting a decentralized taxi service will also ensure the viability of the taxi companies themselves too, according to McFly.
This is another one of the concepts that hasn’t been discussed too much in depth yet, but one that does need to be shelled out further. As noted from Satoshi’s original whitepaper, the type of blockchain technology that cryptocurrencies are principally based on is distributed ledger technology. So, there should be a similar tracking of the coins for the McFly blockchain as well.
The one feature that makes the McFly token an absolute genius creation is the fact that each token is designed to represent one full lifecycle of the flying taxis that it represents — which means that there will be 700,000 McFly tokens. The value of each token will correspond to the value of one minute of flight. Thus, by owning a McFly token, one is essentially owning the right to be escorted in a flying taxi, which is very unique, especially in a cryptosphere where most tokens are still working to develop a reasonable use case for the average user.
Because of this setup, there are two particular benefits that are conferred to each user:
#1 — Safety Control
In the traditional flight industry, planes need to be managed by independent 3rd-parties to ensure that there are no unauthorized usages of the plane and that there each passenger has paid the appropriate amount of money in order to board the flight. However, McFly’s token, being based on blockchain technology, allows the blockchain to perform the duty of record-keeping and ensuring that the safety standards are up to date as well. It also guarantees the locking of the taxi as soon as it covers the necessary 700k minutes of flight, restricting the old eVTOLs from further flights.
#2 — Economical Advantage
Since the price of the token will be determined by the open marketplace, the going price for each minute of flight in the air, which is represented by the McFly token, will be determined by whatever the market values it at that point in time. Thus, one can be ensured that they won’t be ‘price gouged’ for one of the tokens or be forced to pay absurd fines because some company takes a monopoly over the industry.
Another good point that McFly brings up is the fact that the blockchain, like Bitcoin, is self-sufficient if there are enough users on the network itself. Therefore, cities would not have to worry about to bankrolling expensive funding projects through legislation and earmarking in order to accommodate the infrastructural needs of the project.
More than likely there will be some regulatory hurdles for the project to jump, but if the idea is viable and there are enough users that wish to become a part of the McFly network, then this could plausibly work in the future.
The picture above describes the general idea behind the McFly tokens and how they expect them to be used.
Much of the other aspects of the whitepaper cover the aforementioned topics in this article.
Some of the Key Bonuses of the Whitepaper:
● This isn’t some sort of small team that’s taking on a project that’s way too big for the lot of them. Rather, the McFly.Aero Incubator includes a consortium of approximately 10 tech companies with dozens of entrepreneurs and advisers with a strong reputation around the world in crafting projects like this one and bringing its core vision to fruition over time.
● This Incubator model that it uses gives the project numerous advantages over other tokens. Such as:
○ Networking between other manufactures of flying cars.
○ A wealth of smart-contract developers.
○ A wealth of blockchain developers.
○ Producers of condensers and batteries.
And much more!
Things to Consider:
● It would be a neat idea if McFly.Aero considered the possibility of offering some insurance tokens for these aerial vehicles as well. In most countries, insurance is a necessity when it comes to any sort of flight and, more than likely, this will be the case for the flying taxis that will be operated on the McFly blockchain as well. Therefore, as the idea takes off for McFly.Aero, they may also be able to expand their brand’s influence and profitability by providing insurance for flying taxi operators as well.
According to the McFly website, the token launch begins on April 5th, 2018. They’re advertising a 53% discount for those that decide to pre-order.
Disclaimer: This article was paid for and edited (with opinion) by the McFly.Aero team.