BITNAUTIC - DECENTRALIZED SHIPPING PLATFORM

timt360 (38)in #bounty • 6 years ago (edited)

SHIPPING INDUSTRY OVERVIEW

Shipping is essential to the world economy, in order for countries around the world to trade they need to import and export which directly help their economy grow. To complete a trade they need to transport goods from one place to another. shipping simply means transporting goods by sea from one geographical location to another according to some studies 90% of the world trade is carried through ships.

The shipping industry has been around since time memorial, from the time of slave trades when thousands of people were shipped off as slaves to the time when countries exchange goods and services as bata and now that countries exchange goods and services for money. The industry is worth over 10 trillion U.S dollars, it's one of the world major economies.

However, this multi-trillion dollars economy needs a revolution. Bitnautic will decentralize and revolutionize the industry.

BITNAUTIC

Bitnautic is a decentralized platform built on the Ethereum network to meet the increasing demand and supply of the shipping industry. This new platform is built for industrial goods producers, ship owners, charterers, brokers, importers and exporters it's like the uber on the sea.

Problem with the current shipping industry

The shipping industry is monopolized by the giants, they sit on top shares leaving no room for smaller carries to co-exist,
preparation of shipping documents is often difficult and it could be time exhausting,
there's lack of information among importers and exporters regarding the type, cost of ships and transport fees,
finding offers from multiple providers can be challenging and time-consuming,
increased costs or wrong deliveries,
security treat on the database by hackers,

The Bitnautic Solution

Bitnautic is building a decentralized platform an ecosystem that will solve most if not all of this problems, this new platform will provide shippers with the data they need to find offers from multiple providers, it will offer a real-time ship brokerage system that allows carriers and ship owners to list ships, it will lock up payment in the smart contract on the Ethereum blockchain, it will provide a state of the art ship and cargo tracking system for its customers. A customer will be able to see the status, agents registered on BitNautic are also there to help with the issue of documentation at a fixed and affordable price.

The Bitnautic platform feature:

AI (Artificial Intelligence) based booking system, a real-time tracking of ships and cargo, and a wholesale e-commerce platform.

The booking system

Cargo booking, shippers from any country will be able to see the ships that are available to carry their cargo, based on cargo location and cross-matched with the destination, carriers and ship owners will be able to list their ships, update their location, and to get shipping leads and find new customers.

Tracking

Users of Bitnautic platform will be able to track their cargo and ships.

Wholesale e-commerce platform

Bitnautic will offer its users a platform where they can advertise their goods and sell them.

Bitnautic also have an inbuilt escrow system that secure transactions, it's a smart contract that holds buyers funds in BTNT tokens until the buyer confirms the seller's obligations.