BitNautic – Bringing Shipping Cargo Industry closer to the land using Blockchain Technology
BitNautic, found online at bitnautic.io, is a decentralized marketplace/ platform for commodities, where end-consumers, importers/exporters, and manufacturers/producers of goods can trade their products with more ease using the Blockchain Technology. The goal of the decentralized platform, according to the official website, is “to help everyone, from end-consumers to the ship owners, Shipping companies to the Agents/brokers, small or large courier companies, manufacturers, producers (farmers), the traders, and the investors around the world to facilitate their ventures and ease the trading practices by connecting all the continents to one unique platform.”
How BitNautic works?
In traditional shipping ways, the transactions involve a lot of paperwork such as sales contracts, charter-party agreements, bills of lading, port documents, letters of credit and others related to vessel and cargo. All these documents need to pass through a long chain of departments. BitNautic prevails over old traditional shipping ways, which eradicates the need for several contracts to be signed multiple times and hence reduces paperwork.
BitNautic also provides services and transportation which is internally boosted by decentralized Blockchain Technology. Inspired by the way Blockchain payment system works, BitNautic proposes a trading platform for commodities where consumers, importers/exporters, ship-owners, service providers and producers of goods will be able to trade their products in the open market and free trade environment. The potential of Blockchain within this platform makes it invulnerable to hacks, frauds or viruses making it totally transparent and secure.
The Bitnautic Decentralized Shipping Platform, takes the product, the manufacturer, the transporter, the consumers and everything else in-between, to one surface. The implementation of Blockchain Technology and smart-contracts makes the process more transparent, secure, effective, less time-consuming and less vulnerable to cyber attacks. Moreover, it makes the tracking of Orders, shipments, consignments, container or of a ship more accurate and effortless. The AI (artificial intelligence) systems manage and control most of the process to avoid any human errors or inefficiencies. The complicated calculations of estimated delivery time of a shipment, which is otherwise influenced by unpredictable factors like the bills of lading, port documents, letters of credit and others related to vessel and by the weather conditions on the route to be followed by the ship, will be calculated by the AIs. It solves the biggest challenges faced by the shipping industry as one single solution with the implementation of Blockchain Technology and smart contracts.
The ICO token BTNT provided by BitNautic is an ERC20 token which will act as a medium to help you be a part of the project. Funds raised via ICO and pre-ICO will mainly be used for the research and development of the platform, in-house trading business, and to purchase ships to be used for the transportations of goods in containers as well as bulk products such as agricultural goods (sugar, corn, rice etc.), minerals and construction materials. The BitNautic ICO will involve the release of 35 Million tokens for crowd sale. The pre-sale for BitNautic starts on 15th April and ends on 15th May, with the main ICO starting on 16th May and ending on 15th July 2018. BitNautic also plans to incorporate a bonus program; the PRE-ICO SALE 2018–04–15 to 2018–04–30 has a Bonus of 30%.
The main ICO Start on 2018–05–16 and ends on 2018–07–15 for a period of 8 weeks. ( 1st Week Bonus = 20%, 2nd Week = 15%, 3rd week= 10%, 4th week = 5% and the rest of the 4 weeks has no bonus).
|ICO Stage||Start Date||End Date||Bonus|
|Pre ICO||15th April 2018||30th April 2018||30%|
|1st May 2018||15 May 2018||25%|
|Main ICO||16th May 2018||15th July 2018|
|Rest 4 weeks||0%|
It involves the following features as listed below:
Transport System: BitNautic will have a fleet of ships, owned by Bitnautic or listed by the ship-owners/ shipping companies on the platform. These ships will mainly cater to the transportation needs of the in-house trading arm of the business. The ship owners can use the platform to make their ships’ opening positions known to charters. BitNautic will use funds raised through the ICO for buying ships capable of carrying the cargos for the in-house trading business in near future.
Booking system: The user can see the ships available to carry their cargo based on their current location cross-matched with the destination of the cargo. The best matched lowest prices will be given to the user from which they will have the option to choose from multiple packages from different service providers based on specifications- weight, time frame, destination, address, source address. Booking a broker agent for all shipping chores can be executed using the BitNautic booking system.
Brokerage system: A real-time ship brokerage system for ship owners, broker agents, and the courier companies; all possible with the BitNautic platform. The brokerage system of BitNautic will give ship-owners an opportunity to offer the ships which they can avail to get going on the job.
Ship & Cargo Tracking System: BitNautic also deploys an AI (Artificial Intelligence) based state of art ship and cargo tracking system for its users. This feature is specifically designed for ship owners and consumers for booking a cargo, viewing the status and position of the ships in real time. The same tracking facility would be extended to cargo owners as well to see their cargo location in real-time.
E-commerce Platform: Here various users can come together and have trade deals. The payment system of this platform is fast, simple and secure which uses global digital currency removing all the barriers and difficulties associated with fiat currency.
Shipping and cargo marketplace (SCM): The main goal is to facilitate existing shippers, cargo companies, brokers, and traders to use the BitNautic platform and the payment system easily to market their shipments in the global market. The platform would bring everybody associated on the same table where high market demand can easily be translated into the excess supply.
Mobile Application: The BitNautic mobile application would allow booking and tracking features along with detailed reports for all activities by the user. The mobile application would provide real-time detailed reports that would help customers get a better insight which in turn would help in sketching a better picture of the cargo status, resulting in improved customer service.
Exclusive deals and discounts: Based on the behavior of the users, the BitNautic platform offers deals which we believe will prove as an important milestone. Special deals would be arranged for retaining customers and meeting all their expectations as an uphill task in each and every market globally.
For more information please refer to the details below:
Company name – MIDWORLD FINCORP LTD.
Company site – https://bitnautic.io/
Company contacts – Mr. Anmol Bajwa
Email – [email protected]