BITNAUTIC : CHANGING THE SHIPPING INDUSTRIES THROUGH A DECENTRALIZED PLATFORM.

nedbee (46)in #cryptocurrency • 6 years ago

Since the advent of the blockchain technology and cryptocurrency a lot of industries and organizations have keyed into this technology. Several aspects of life and businesses have been introduced into the blockchain technology so as leverage on its transparent, immutable and decentralize nature of the blockchain and cryptocurrency. Shipping industry is not left out as it is an important sector that drives global economy.

THE SHIPPING INDUSTRIES

Currently, there are over 50,000 merchant ships trading globally, shipping all kinds of cargo. The world fleet is said to be registered in over 150 nations and manned by over a million seafarers of almost every country. It might interest you to know that, shipping industry has taken over about 90% of the value of the global trade; shipping is like a mother of all other trades, without which global economy would be in shambles. Also, from statistics, it’s been recorded that the operation of merchant ships raised an estimated income of over 0.5 trillion U.S. Dollars in freight rates every year. One can imagine how huge this sector of economy is and its effect on the global economy.

However, the importance of the shipping industries cannot be over emphasized, as every aspect of our economy has to ship / import one equipments, food stuffs, clothing, medical equipment, and raw materials for manufacturing industries and so on.

Unfortunately, as important as this shipping industry is, it has faced so many challenges over the years. Some of which are:

So much regulations by authorities
Overcapacity
High freight rates faced by local producers , charterers as well as shippers
So many intermediaries

-Opaque nature of operations without any form of transparency

-Difficulty in shipping small cargo

And limited number of sea lines.

BITNAUTICS AS A SOLUTION

Interestingly, due to the above mentioned challenges BITNAUTICS was created on the decentralized platform of the blockchain technology. this Unique of its kinds project is aimed adding value to the shipping industry and upgrading it so as to achieve:

Great efficiency
Improve processes of operations
Enhance a disruptive digital change.

-Improve on profitability in the future

BITNAUTICS has come to create opportunity for the producers and chatterers globally.

-With the use of a decentralize platform, shipping industries won’t have needed for unwarranted regulations from government and other authorities which sometimes ruined the smooth operations of the industries.

Other benefits of using BITNAUTIC platform

Its secured: with the use of the blockchain and digital currency shipping industries are bound to enjoy a great deal of security.
Reliable unlike the traditional shipping operations, the decentralize platform make shipping operations reliable, there is no need to look for trust or a trusted agent.

-Inexpensive: since BINAUTIC is using a Decentralized platform there is no need for middle men to charge high fees.

Easy to use: Bitnautis platform not complicated its simple and user friendly.
With Bitnautics, shipping business can be done globally.
With BIANAUTICS , Shippers only need to submit a nominal deposit that gets credited toward their balance which is due before cargo is loaded. All activities or processes can be done with BTNT or any cryptocurrency accepted by the platform

THE FOUR LAYERS OF BITNAUTICS ARE:

BitNautic Services Layer (Applications)
Ethereum Blockchain Layer
BitNautic Business Logic Layer (Smart Contracts)
BitNautic Ecosystem Layer (Third Parties Applications)

USES OF BTNT

For effective and fast transaction
To pay for cargo booking
To pay for wholesale purchase
To pay for ship brokerage system and other activities on the BITNAUTIC platform.

THE OVERALL WORKINGS OF BTNT TOKENS

However, this project is meant to upgrade the shipping processes and enrich global economy. Its importance cannot be over emphasized. The shipping industries serve as bedrock to every other sector of the economy, there is no doubt therefore that this project will have a global impact in the nearest future.

Be that as it may, all the unique and great benefits of BITNAUTICS and the Token BTNT cannot be captured in this article, I therefore recommend that you take a look at the well packaged and self explanatory white paper(https://bitnauticcdn-bb3d.kxcdn.com/public/white-paper-en.pdf) and a well designed website (https://bitnautic.io/) for more and clearer information on BITNAUTIC project and the BTNT token .

a transparent way of BTNT Token distribution