Exploring how Web3 technology is revolutionizing flight tracking, rewarding enthusiasts, and enhancing data collection through decentralized networks.
Points
- Web3 technology offers new opportunities for flight tracking enthusiasts to monetize their data.
- Traditional flight tracking networks are profitable, but data contributors are often unrewarded.
- Wingbits uses a DePIN model to fairly distribute profits among data providers.
- The network has grown significantly since its public beta launch in November 2023.
When I was in college, social networks were all the rage. Up until that point, the internet was mostly read-only; you visited a web page and read someone else’s opinion on a topic. We wanted more: to post our own photos, express our opinions, and share them with friends. Those were amazing times; everyone loved the internet, and it was all for free! However, we slowly learned that if something is free, you’re the product. Or, better said, your data is the product.
Cointelegraph
This model was somewhat fair; you got access to a platform that costs money to run, and in return, you provided some data about yourself. This data was used to sell you relevant ads, reaching the right audience. However, as data collection became more advanced and intrusive, profits soared while your side of the deal stayed the same. This model became ubiquitous, implemented in social media, online newspapers, and even TVs that run ads in their menus. Surprisingly, it also extended to flight tracking.
Web3 promises a solution. Instead of giving away your data, what if you kept ownership over it? During the last bull market, everyone sought problems that Web3 could solve. Everything was tokenized: art, watches, carbon credits, and random memes. However, the correct approach is identifying the problem first and then applying the solution.
Helium did just that. Using Web3 incentives, it built a decentralized network of hotspots providing connectivity to IoT sensors. This incentivized people who don’t know each other to work together, creating the largest telecom network in history by combining their home Wi-Fi networks. The problem was not in data ownership but in how profits were distributed among data providers or those providing the infrastructure for data transfer. The value lies in the network of people generating the data—a decentralized physical infrastructure network （DePIN）.
Beincrypto
The flight enthusiasts’ community is a global group collecting data from airplanes and sending it to a few large flight tracking networks. In return, they get full access to the platforms. These networks then sell this data to companies in aviation, travel, and logistics. This data is critical for aviation operations, yet it’s collected by enthusiasts using affordable Raspberry PIs. Flight tracking networks like Flightradar24 and Flightaware are highly profitable, yet the data providers are not compensated.
Wingbits is changing this by applying a DePIN model to flight tracking. It is building a fairer and more performant network where data providers receive a share of the profits their data generates, based on performance and uptime. Unlike other networks, Wingbits incentivizes maximum coverage and uptime, ensuring the best participants earn the most.
Since its public beta launch in November 2023, Wingbits has grown from 40 to over 1,450 live antennas, outpacing Flightradar’s growth in its first three years. It now has nearly complete coverage over Europe and a significant portion of the US, tracking over 35,000 flights daily.
解説
- The integration of Web3 technology into flight tracking exemplifies the potential for decentralized networks to create more equitable profit-sharing models.
- Wingbits’ success demonstrates how incentivizing data providers can lead to rapid network growth and improved service quality.
- The DePIN model’s ability to fairly distribute profits based on performance and uptime highlights the advantages of decentralized infrastructure.
- As Web3 continues to evolve, it offers opportunities to challenge traditional business models, promoting greater transparency and fairness in data utilization.
- The flight tracking example underscores the broader potential of Web3 to transform various industries by empowering individuals and communities through decentralized technologies.