CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
CoinDesk 2025-02-19 13:53:54

Wingbits to Launch Satellite to Boost Flight Tracking Accuracy

HONG KONG — Wingbits, a blockchain-powered aviation data network, is set to add satellite-tracking capabilities as it looks to make further inroads into the $22 billion aviation data industry. The Swedish company is launching a satellite with Spire Global, which operates a low-orbit satellite constellation. The satellite will be carried by SpaceX’s Transporter-13 mission in late February from Vandenburg Space Force Base in California. Discussing the launch during Consensus Hong Kong, Robin Wingardh, Wingbits' CEO and co-founder, said the satellite complements the startup’s 2,200-strong on-the-ground node network managed by flight enthusiasts around the world. The decentralized physical infrastructure network, or DePIN, project rewards data providers with Solana testnet tokens. The existing flight-tracking industry also relies on flight enthusiasts to supply data on airplane movements. Companies such as FlightAware and Flightradar24 sell data to aviation analytics companies, airlines, insurers and others, but don’t reward the enthusiasts for their work, Wingardh said. Wingbits already has data contributors from over 90 countries tracking some 120,000 unique flights daily. It plans to create a worldwide network through the reward system, which allows tokens to be exchanged for air miles, airport lounge access and other services. Wingardh said the satellite, when launched, will allow the company to verify data from the ground, providing protection against “spoofing” by cross checking flight data from the DePIN against data from the satellite, Wingbits hopes to ensure its information is more accurate than its competitors’. The company recently closed a second seed round for $5.6 million from Borderless Capital, Bullish Capital (part of the Bullish Group that also owns CoinDesk) and others.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.