Unmanned aerial vehicles (UAVs) are gaining immense attention due to their potential to revolutionize various businesses and industries. However, the adoption of UAV-assisted applications will strongly rely on the provision of reliable systems that allow managing UAV operations at high levels of safety and security. Recently, the concept of UAV traffic management (UTM) has been introduced to support safe, efficient, and fair access to low-altitude airspace for commercial UAVs. A UTM system identifies multiple cooperating parties with different roles and levels of authority to provide real-time services to airspace users. However, current UTM systems are centralized and lack a clear definition of protocols that govern a secure interaction between authorities, service providers, and end-users. The lack of such protocols renders the UTM system unscalable and prone to various cyber attacks. Another limitation of the currently proposed UTM architecture is the absence of an efficient mechanism to enforce airspace rules and regulations. To address this issue, we propose a decentralized UTM protocol that controls access to airspace while ensuring high levels of integrity, availability, and confidentiality of airspace operations. To achieve this, we exploit key features of the blockchain and smart contract technologies. In addition, we employ a mobile crowdsensing (MCS) mechanism to seamlessly enforce airspace rules and regulations that govern the UAV operations. The solution is implemented on top of the Etheruem platform and verified using four different smart contract verification tools. We also provided a security and cost analysis of our solution. For reproducibility, we made our implementation publicly available on Github