BITNAUTIC: IMPROVING THE SHIPPING SECTOR WITH BLOCKCHAIN TECHNOLOGY

donaldpete (51)in #ico • 6 years ago (edited)

Introduction

During my early years education, we were taught about transportation and their modes. We knew Road, Air, Rail and Sea/Water Transportation and we got to know that ships moves on water, help to convey heavy loads both internationally and locally, but we never got to know or understand how it efficiency could help the parties involved.
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Increasingly over the years, shipping and maritime have consistently being a basic source of revenue for governments worldwide through exporting and importing. While its importance is of various significance in each country as it can be the centre core for globalization and swell of E-Commerce in one country and not in another, still its importance is not underlined. Meanwhile, shipping is not restricted to the governments alone, individuals can also get involved. For instance, I'm an African living in Nigeria, I'm interested in some products from an online store or company, let's say Europe. How do these products gets to me?!, looking at it, I have various options as I can rather get it airlifted but looking at the cost, the volume and the type of products I am buying, Shipping is my best option. However, shipping does not come easy as it has its own flaws, some of these flaws are Overcapacity, Irregular Order, Mistaken Destination Addresses, Human Errors, Trust and Natural Disasters. Many of these flaws are due to the numerous volumes and sizes of cargoes transported worldwide everyday. For instance, you ordered shipload of clothing products only for you to hear that your cargo have been lost, and as there are no regulatory devices put in place to help checkmate such losses on the shipman, it implies that you've lost all the capital/money invested. How would you feel??.

This is one of the various need to curtail this irregularities and flaws of shipping so as to prevent possible future and consistent occurrences. This would allow world trade investors and users to make maximum profits and this would have a long lasting benefits on the world economy and provide assurance for aspiring investors/users and transparencies in business deals.

As explained above, the obvious need to set up a global regulatory standard in the shipping sector is very important. This provides the sector with the required flexibility and maximizes its efficiency.

BitNautic Ecosystem At Work

This is where BitNautic Ecosystem comes in, they bring a lot of solutions to rectify these loopholes/flaws. They will address all the flaws that the shipping sector encounters. Basically, they offer an open decentralized platform on which all shipping stakeholders i.e Ship owners, Shipman, Carriers, Importers, Exporters, Investors and Middleman (Agents) to be under a single community; BitNautic, and talk and bargain their own terms, thereby eliminating the issue of numerous parties involvement as in the current case. All this efficiently powered on the blockchain technology that has been changing other sector with positive feedbacks. This enables the shipping sector to benefit from this Corrupt-Free and honest system.

BitNautic aim is to put the shipping sector in an advanced way that it ought to be. In this system, the challenges of all the parties involved in the shipping sector can be tackled, thereby eliminating administrative challenges and human errors, it allows every one in the ecosystem to see the terms of agreement at any particular time and pass accurate information anytime. This will allow global transaction to be secure and reliable. Challenges of bookings and delivery loss are hereby eliminated because in actual time, ship owners can get updates about their ships location through efficient tracking and good owners can know with actual certainty the location of their goods.
This introduction of this advanced system allows shippers and carriers benefits from the true-booking system based upon digital smart contracts supported by blockchain that allows agreement in blocks, which are activated once the requirements are met. This brings smile to the faces of both parties as shippers does not have to worry about the issue of system instability or fluctuations in the price rates given them. This allows invoices to corresponds with records thereby making the system near 100% efficiency.

BitNautic Tokens
BitNautic Token which will also be referred to as BTNT Token is an ERC20 token base on the ethereum blockchain. This is the token that will be issued to the created decentralized shipping and cargo ecosystem grounded upon the ethereum blockchain and would be used for trading goods and services. The BTNT token will be a utility token that would be used to activate transactions and users charges payments. It will also be used for the following;
• Subscription For Professional Use Of The BitNautic Platform.
• Subscription For Tracking System.
• Charges For Escrow Services.
• Charges For Ship Brokerage System.
• Charges For Cargo Booking.
• Charges For The Wholesale E-Commerce.

All these uses will make the BTNT token valuable upon launching, so, BitNautic is offering you and the rest of the blockchain enthusiasts, experts, investors, the opportunity to get hold of some of these tokens in a private and public sale. All parties interested in participating in the BitNautic ICO are required to pass a KYC test.

The Image Below Depicts The Token Details And ICO Details

Team

The team comprises of a dedicated team well-backed with experience. The image below depicts the team members.

Conclusion

In short, it is obvious that the shipping sector worldwide needs reforming in their over all operations to maximize its efficiency. So, for the BitNautic ecosystem to tackle these challenges, investors worldwide are encouraged to make themselves available for this system and participate as it seems to be the only way to cure the sickness that have plagued this sector. This advanced system will also alleviate some problems off the government sea/water agencies and other law enforcing sectors who under existing system are tasked with making sure all the shipping trade routes are kept secured from hijacking and hacking. With this system fully implemented, the shipping sector will go through a disruption in the existing/current approach of cargo and ship bookings.

You can read more and follow this interesting project with the help of the under listed links.
Website : https://bitnautic.io
Whitepaper: https://bitnautic.io/documents.html
Telegram : https://t.me/bitnautic_group
Facebook : https://www.facebook.com/bitnautic/
LinkedIn : https://www.linkedin.com/company/bitnautic-official/
Reddit : https://www.reddit.com/user/bitnautic/
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3351552.0
Slack: https://bitnautic.slack.com/
Twitter : https://twitter.com/bitnautic