BitNautic is a shipping services platform that runs on artificial intelligence for producers of goods, ship owners, charters, brokers, importers, and exporters. The platform is decentralized and based on the Ethereum blockchain.
The value of annual trade has been growing for decades and shipping accounts for a large part of this growth. More than 85% of the value of global trade comes from the shipping industry. Without a doubt, shipping is the lifeblood of international trade.
Manufacturing concerns around the world depend on the relevant and needed raw material to produce their goods and also needs transportation to move goods around the world to reach its target customers. The bulk of these movements both for raw materials and for the finished goods are done through shipping.
Imports and exports are indeed the hallmarks of intercontinental and global trade. However, the shipping industry is faced with a myriad of challenges. The challenges which the global shipping industry faces include regulations, which have been increasing over the years, overcapacity, security threats, and also highly variable freight rates among other challenges.
On a larger scale, shippers and local producers who are operating from developing countries and economies also face their own peculiar challenges which include a rather high number of intermediaries, a limited number of available sea lines, lack of transparency, difficulty in shipping small cargo, and expensive freight rates.
In the light of the above, it becomes necessary that for the interest of global trade and for the overall growth of the shipping industry, innovation is required to make the industry better.
This can be done by increasing efficiency through innovation and also by improving processes which will translate to higher growth for the industry and increased profitability for industry practitioners such as charterers, ship owners, and producers of goods across the globe.
To achieve this goal of efficiency, we have to leverage latest digital trends and development. The vision of BitNautic is to contribute to the digitalization and decentralization of the global shipping industry by leveraging the blockchain technology.
Through its efforts, BitNautic intends to achieve increased growth and development for developing economies by increasing international trade and cooperation. BitNautic also intends to increase the role of public-private partnerships in the shipping industry and by bridging the gap between government regulators and the shipping industry.
BitNautic will also be committing its efforts in the areas of knowledge sharing. BitNautic will be focusing on the African continent and its emerging economies.
Benefits for the Shipping Industry
The BitNautic platform is built with Artificial Intelligence (AI) which would be offering immense benefits for the shipping industry.
BitNautic is going to leverage the security and transparency of blockchain to make the shipping industry better. The benefits would be enjoyed by the different players in the shipping industry which includes all stakeholders including importers and exporters and also including ship owners, and cargo owners. The benefits include;
Global Reach: The benefits which ship owners would enjoy with the BitNautic platform will include the ability to list their ships on the platform and the benefit to be able to monitor the position of their ship in real time.
Cargo owners can also list and monitor the position of their cargo real time on any port in the world on the BitNautic platform.
Reliable Booking System: BitNautic also provides the benefit of a reliable booking system which is built based on effective Ethereum digital contract. With 100 percent accuracy matching invoices with contracts, subscribers on the platform can lock in rates and equipment up to 6 months in advance.
Information Security: The shipping industry would also enjoy information security on the BitNautic platform. BitNautic users can only share vital shipping information such as ship name and vital assets with whom they wish to.
Low Cost: As a decentralized platform which eliminates the role of middlemen for a low flat fee of 2% the platform users enjoy the benefits of the platform at a low cost.
The Benefit of Multi-Currency: Users can carry out transactions on the platform with cryptocurrency or BitNautic Tokens (BTNT).
The Benefit of Artificial Intelligence: Because the BitNautic platform is built on Artificial Intelligence AI shippers would enjoy the benefits of efficiency and optimization at a reduced cost.
Transparency: Being run on the blockchain technology, the platform is transparent and only the parties in the contract with the required privileges can access and audit contracts stored on the blockchain.
The Ecosystem Makeup
The BitNautic Decentralized Artificial Intelligence ecosystem comprises Cargo Booking, Brokerage System, Tracking System, and a Wholesale E-commerce platform.
• Cargo Booking
On the BitNautic cargo booking system, users can access the availability of ships and will also be matched to ships for their cargo and location at the lowest prices.
• Brokerage System
The platform’s ship brokerage system enables ship owners to find customers easily. Ship owners can also list their ships on the platform and provide up-to-date information and the location of their ship.
• Tracking System
BitNautic users would also enjoy a fully digitalized tracking system designed for ship owners and their customers. The tracking system enables BitNautic to transport goods efficiently.
• Wholesale E-Commerce
The wholesale e-commerce platform of BitNautic creates a platform for producers and their customers to meet for the exchange of wholesale goods.
The BitNautic platform is available to subscribers at a flat fee of 2%.
Token Sale
The BitNautic (BTNT) token is a hybrid ERC20 token with a total token supply of 50 million BTNT. The accepted currency is ETH at an exchange rate of 1 ETH = 500 BTNT.
The BitNautic BTNT token would be used as a store of value and to facilitate transactions on the BitNautic platform which includes the trading of goods and services.
Conclusion
The shipping industry in the emerging economies of the African continent is no doubt set for better days ahead as BitNautic is poised to make the industry better through its system of digitalization and use of the Ethereum blockchain technology.
Website – https://bitnautic.io/
Whitepaper – https://bitnautic.io/documents.html
Telegram – https://t.me/bitnautic_group
Twitter – https://twitter.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
Author - Coltpython
