AVIATION BLOCKCHAIN PLATFORM
The aviation industry is one of the most significant contributors to the growth and size of the world economy. Aviation has been instrumental in globalization and has helped economies and people come together. The need to travel is undoubtedly a core need to drive businesses globally. Air transport has more than doubled in size every fifteen years and is set to continue to expand exponentially.
The worldwide commercial fleet — estimated at approximately 25,000 in-service aircraft — is forecast to expand to 35,000 over the next decade. Hence particularly Airlines, allied services and aviation banks have grown in scale with demand, which has attracted many investors and capital into the sector over the past decade.
The perpetual growth of the Aeronautical Sector combined with a traditional approach to managing the supply chain, constrains the actors in the industry. There are new technological solutions that can secure supply chains and streamline company processes. However potential the blockchain can provide to parts tracking, logistics and purchaser processes is immense and it can well be the game changer for the industry.
Welcome to GSC Aviation – A new shared and reliable platform in the aviation e-sourcing space, aiming at perfect traceability by implementing Public Blockchain technology!!!!
The goal of the GSC platform is to implement technical and easy-to-use tools for the buyer to save time and focus on strategic purchases and higher-value tasks.
The above picture represents the typical Purchasing process, including both the operational and strategic sides. Steps outlined in grey are those where GSC Aviation aims to bring tools to reduce costs and save time for buyers, enabling them to focus on other tasks in the process. These tools will be available on the GSC Aviation database.
GSC AVIATION DATABASE
The GSC Aviation database offers the following to its customers.
Identity Cards for Suppliers
- Help in finding the suppliers, integration of new suppliers, gathering the ID card of the suppliers
- Provide the buyer with all of the information required to control supplier tracking and market knowledge
- Aim to minimize the time of delivery
- The GSC Supplier and Partner Database will enable the buyer to find any goods or service they need, so they can respond positively to their internal customers.
- Search module by keyword and a live chat are available
Suppliers and Buyers Rating
- Suppliers rating is offered by GSC, where with the return of the RFQ from a supplier, the buyer will be invited to note the suppliers consulted by using a very simple and fast system and to add a comment. The purpose of this rating is to create a virtuous circle for suppliers wishing to top the search results for buyers
- Purchasers rating is also offered, where buyers are rated on their ability to pay suppliers. When they pay on time the rating is high, conversely when there are late payments the rating decreases. The purpose of this rating is to give a clear picture of the creditworthiness of buyers.
Supplier Tracking - The monitoring of Suppliers is essential for the Buyer. Hence GSC platform has felt the need to develop a simple and easily transposable tool, so that each buyer can ensure they can follow-up in a regular and efficient way.
Buyer's Dashboard to secure the Supply Chain - Each buyer has their private space on the platform that gathers all the information and tools of the platform (sourcing suppliers products and services, suppliers recently added to the panel, preferred suppliers, purchases from each supplier of the panel) to allow them to have an overview so they can quickly and efficiently take the necessary actions
GSC AVIATION BLOCKCHAIN
TOKEN DISTRIBUTION STRUCTURE (GSCP Tokens)
The above representation outlines the token structure of GSCP Tokens. It represents an aircraft similar to the GSC Aviation project. The cabin represents the tokens buyers of the Token Sale (the passengers), the wings represent the team, the engines represents the
platform’s aim to continue the journey by developing GSC Automobile and the tail of the plane, representing the advisors, contributors and the GSC Aviation community.
Jonathan ZERBIBPlatform Development
Achyut SHRESTHAGSC Blockchain Development Director
BIRTH OF THE GSC AVIATION CONCEPT
WHITE PAPER WRITING & TEAM TRAINING
PLATFORM TEST BY FLYDYNAMICS
GSC AVIATION PLATFORM LAUNCH
GSC AVIATION BLOCKCHAIN TRACEABILITY LAUNCH
TRANSPORT UNIT DEVELOPMENT / CONTRACTS MANAGEMENT
AUTOMOTIVE SECTOR MARKET STUDY
GSC AUTOMOTIVE PLATFORM TEST
GSC AUTOMOTIVE PLATFORM LAUNCH
GSC SMART PURCHASES BLOCKCHAIN LAUNCH
Q1 - Q2 2021
GSC CONSULTING PLATFORM TEST
GSC CONSULTING PLATFORM TEST
GSC CONSULTING PLATFORM LAUNCH
Disclaimer : Please note that we are not associated with the ICO nor are paid for preparing this review. This is our personal opinion and contributors are advised to do their due diligence before contributing to the ICO.
GSC Aviation is a supply chain solution that aims to improve flight safety and streamline processes for Aviation Industry. The platform provides aeronautical professionals with quality resources, the security of blockchain technology and efficient purchasing protocols. This will enable economies of scale for aerospace industry players by optimizing the supply chain as a whole. The GSC platform also provides each buyer with a dashboard listing information about the supplier and their past collaborations. This technical tool for the buyer allows them to save time and concentrate on strategic purchases and tasks with higher added value for his company. The detailed identity cards stored in the GSC database allow users to quickly access the information of each supplier.Healthcare Industry is one of the biggest sector from business and social impact point of view. Yet it has not able to reach its full potential due to multiple system and geographical problems. It is plagued by centralized and opaque systems around the globe that work in silos and in the best interest of few individuals. On the other hand the most significant stakeholders of the ecosystem i.e. patients, doctors and pharma-research companies suffer due to the bottlenecks faced. Well aims to remove these bottlenecks and create a revolution in healthcare industry by creating a blockchain based platform for healthcare professionals.
We have analyzed the ICO based on the below parameters:
1.Necessity or problem statement (12%)
2.White paper (9%)
3.Product Status (10%)
5.ICO Pricing (7%)
6.Business Model/Revenue Source (15%)
7.Token Value Increment Options (15%)
8.Social Media Presence/Hype (10%)
Below is the score we have given for each parameter and overall rating of the ICO.
||Necessity or problem statement
|Business Model/Revenue Source
|Token Value Increment Options
|Social Media Presence/Hype
Please continue reading for detailed analysis.
1. Necessity or Problem Statement (12%)
The aeronautical industry is one industry where it is very important to always keep in radar the quality of maintenance by conducting regular check-ups by the relevant authorities. However, the information on the quality or maintenance of equipment is not readily available to ensure aircraft worthiness receives the adequate attention. Overall, this could jeopardize the safety of flights since the traceability of the aeronautical parts is not known and administration remains a cumbersome process.
So in a critical sector like aviation, the following are regarded as very crucial for industry players
- Knowing the source of all parts
- Having product quality information and
- Being able to locate the supplier of a faulty component.
GSC Aviation as a platform aims to satisfy all the above needs of the aviation industry. The platform will offer real time alerts to MROs (Maintenance Repair and Overhaul), Continuing Airworthiness Management Organizations and airlines on the different aeronautical parts of the aircraft concerned. In addition, the transparent and verifiable features of blockchain technology enables GSC with an effective and rapid response to fraud detection. In all, GSC aims at the improvement of flight safety in the world. (Statistics say 22% of aircraft accidents are due to a defective part). This platform gets a 9 on 10 for their unique choice of the problem statement and for trying to adopt blockchain technology to cater to needs of the Aviation industry..
2. White paper (9%)
You can go through their whitepaper in the ‘Details’ tab.
- The whitepaper provides information about the platform, the blockchain solution, the token model, token distribution, roadmap, details about the project team among others.
- Apart from the exhaustive White paper, there is also a Light paper. The light paper comes across as a concise, crisp little paper, with details on the supply chain challenges, GSC’s offer, key features of the GSC platform and the token sale.
We give them 7.5 out of 10 on this aspect..
3. Product Status (10%)
We are given to understand that their MVP will be ready by August 2018. Otherwise, this is an area that they have not much focused as yet. We would have liked to have the MVP in place during the taken sale stage. We give them 6 out of 10 in this aspect, purely basis their blockchain solutions.
4. Team (10%)
GSC Platform is based out of France and is led by Maxime Legros, the Founder and CEO. Maxime has with him seven years of experience in the aerospace sector in the area of purchasing, where he felt the need of a tool such as GSC Aviation, suited to the substantive work of analysing the buyer's market. Other key members of GSC are Achyut SHRESTHA, who is the Blockchain Development Director. He had developed Smart Contracts and Data Contracts on his own. He has over 16 years of Software Development starting with Desktop applications, Dynamic Web pages, Enterprise Secure Web applications for Fortune 500 company and now Blockchain Dapps. Cyril VUAROQUEAUX is the CTO of GSC Aviation and he has been the CEO of BIP INFO, a Company in the digital transformation, since 2014.
In all, they have a team of 15 advisors, 2 from the executive management crew, 2 from the marketing team, 3 from the community management team, and 6 from technology (Product development and blockchain).
We give them 9 on 10 for bringing on board relevant people and for having someone like Maxime Legros (the CEO) at the helm, who has previous relevant exposure in both the aviation industry and in purchasing.
5. ICO Pricing (7%)
As far as the ICO pricing is concerned, their Soft Cap is at 4M€ and their Hard Cap is at 46.2M€. We feel the project valuation is reasonable and justified. Considering the pricing and the stake allocation, we give them 7 out of 10 in this aspect.
6. Business Model/Revenue Source (15%)
GSCP is the internal currency of the project. As GSC is planning to release their smart purchases blockchain in 2020, the purchasers will be able to set all the process in the blockchain using the GSCP token. From the logistics platform for purchasers to use the purchaser’s modules, they will be required to make a fiat payment and paying with GSCP tokens will provide a 20% discount on the price. And GSC will charge a fee on the blockchain services that they would provide with a fixed amount in fiat only payable in tokens.
Apart from the above said, GSC’s revenue generation is based on the below business model.
- One subscription per month per Buyer: the subscription amount is calculated according to the needs of the buyer according to the module. Access to the GSC Aviation Database is free for Suppliers who will be able to provide reference and offer their goods and services for sale.
- Promotion Service: Advertising in the form of banners will be possible if the suppliers wish to promote a product or service to the qualified buyers.
- Carriers/Freight Forwarders: A monthly subscription of 60 € per carrier (or the equivalent of 50 € in GSCP Tokens) will allow them to have visibility following the RFQ of the Buyer who will choose the means of transport for the goods they want to order.
One thing that is impressive about their business model is that they have created the inside utility market of the token in such a way that it is not affected too much by the fluctuations in the crypto market as long as the GSCP token would be used. Overall, we give them 7.5 out of 10 for this aspect.
7. Token Value Increment Options (15%)
GSC Aviation has recently partnered with AVINOC to bring a Comprehensive Blockchain Solution for the Aviation Industry. The AVINOC Blockchain Platform enables airlines to free themselves from the market power of booking platforms and general distribution system (GDS). These intermediaries are responsible for a not so transparent and highly complex airline ticketing system, much to the displeasure and discomfort of airlines and travellers. So we feel that the partnership between GSC Aviation and AVINOC will create the opportunity for airlines to improve their overall business, thereby positioning themselves for the future and also may increasing their revenue potential with breakthrough blockchain technology.
The GSC team also recently has promised Capital guarantee of 50% on the presale, first round 80% guaranteed and the last round 95%. This we feel as a good move and works in the favour of the investor. The unsold tokens would be burned and a majority of the funds from the ICO would be directed into Marketing and token growth. Also GSC aims to bring as much aviation professionals as investors in this project, so the token will continuously circulate. Though GSC Aviation will create other logistics platforms for other industries like GSC Automotive, GSC Rail, etc, but every blockchain technology based smart purchases and traceability will be all handled by GSCP tokens only, which is a smart move. This we feel will certainly increase the value of the tokens.
We give them 8 out of 10 in this aspect.
8. Social Media Presence/Hype (10%)
GSC Aviation has really put in their earnest effort in reaching to the investors through a varied range of Social media platforms. But what we regard as an area where they must look at improving is the traction or evangelization in terms of their reach in each of the channels where they are present. And though their content offered in various social media platforms like Facebook, Twitter, Reddit, Instagram are all good and updated quite often, but yet they have limited number of followers in each of these channels, the numbers of which are as below
We regard that one of the key ingredients of a successful ICO venture is its ability to adopt a well marketed strategy to have very strong social media presence. They are spending a lot of effort in the Content, but surprisingly not the same amount of effort towards marketing / evangelization or the reach, which only will give them the required attention. Despite this, we still give them 6.5 out of 10, purely for the content they post in the various Social media handles periodically.
9. Competitors (12%)
There are already players in this area like Aeron and BitAir which utilizes blockchain for aviation safety, but GSC Aviation is unique and stands out among competition in the following aspects.
- Quick Search: GSC Aviation offers users to easily find suppliers in the proximity using their search module.
- Centralized Tender: Users can select suppliers for the items and services they need to determine the criteria of their choice and make a call after few clicks.
- Optimized Discovery: Users can easily access any information of each supplier with the use of detailed identity cards sored in GSC database.
Also we feel GSC Aviation comes up with a refreshing concept – that of trying to make the aviation industry provide a shared, trustworthy Blockchain-based platform for updating information such as the financial strength of vendors, quality standards, and MRO (Maintenance Repair, and Overhaul) data.
We give them 7.5 out of 10 in this aspect.
Based on our analysis, we give an overall score of 77.7 out of 100 to GSC Aviation, which is very good.
The use of the blockchain technology for aviation is by no means exhaustive, but the GSC platform has been first mover of sorts by bringing in the new technology in the most crucial stages of aviation, that is the equipment supply chain. We feel that the power to harness blockchain could make GSC a leader in the supply chain management of the aviation industry.
We give it a “Good” rating and a long term investment option with moderate risk.