Bitnautic Project Review: A Decentralized Ecosystem for the Shipping Industry

elvisdika1 (34)in #blockchain • 6 years ago (edited)

INTRODUCTION:
Bitnautic is a trading concept meant to disrupt the shipping industry. It will impact goods right from the end consumers to manufacturers to exporters and importers. It will cause a significant drop in international trade barriers and increase worldwide GDP.
Part of the many aims of bitnautic is to facilitate free and open market trade, foster international cooperation, knowledge sharing, public and private partnership in the shipping industry.

BitNautic will also assist investors to ease the process of trading.
On launching the program, the first phase will cover the South Asian and West African market, as Africa will be the next emerging economy.
Features of Bitnautic
E-commerce platform: This digitalized platform will remove middlemen from the process of buying and selling. Hence, goods can be bought and sold directly.
Global Shipping Currency: With the BTNT, users will be able to exchange fiat money or cryptocurrency. This will make all shipping community operate at the same platform.
Exclusive Offers: There are mouthwatering deals and huge discounts that are made to fit user preference.
Position Your Vessel for Hiring: Shipowners as well as users of the mobile apps will be opportune to include their ship for hire. Owners of ships that fit the specification of the order will receive offers. Payments will also be done through blockchain if the deal is agreed on.
Tracking System: There is a unique cargo and ship tracking system for customers. Thus, no cargo will ever go missing again.

Shipping and Cargo Marketplace: The developed bitnautic central system will bring together all shipping associates.
Space reservation For Cargoes: With Bitnautic, users will be able to access the right flight. To do this, users of the platform (consumers, importers, exporters, courier companies) will be able to choose from the available options. This will be possible after they have registered and specified the necessary information.
Registering a product on the Platform: The mobile app as well as the website will be eCommerce enabled. As a result, users will be able to add their products and its details which bitnautic will check for accuracy before approval.
Contacting Agents: Users in charge of the transport of cargoes will be able to get in touch with everyone on the platform directly. There will also be brokers available to help do all the necessary work.

The Bitnautic Blockchain and Initial Coin Offering
While the project will revolve on the Ethereum hard fork, there will be improvements in the algorithm to reduce cost and time. Also, all transactions on the platform will be through smart contracts.
There will be 30 million supply of token. With 35 million BTNT, bitnautic will be able to raise 25 thousand ETHs during the Initial Coin Offering.

Conclusion
Uber is to the cab industry as Bitnautic is to the shipping business. The business platform is simple and fair which will make available increased profits with many opportunities to agents, customers, traders, brokers and ship owners. It will serve as a marketplace for goods and all forms of commodities where exporters, importers, and producers of goods will be able to trade without much hassle.