The shipping industry has been plagued with a lot of challenges. These challenges boil down on the carriers and the shippers. For the carriers, the challenges are lack of security, environmental pollution, overcapacity, lack of transparency and labor disputes while the challenges for the shippers include high shipping demands and appropriate documentation. Security has become a problem in recent times in the shipping industry. The record of theft and piracy in so many maritime coasts has been on an increase and something fast needs to be done about it in order to build trusts with their clients.
With the growing population of the world, a lot of challenges will arise the more, if these challenges are not tackled. The industry has to increase its shipping efficiency, improve processes and perform a digital transformation to increase export of producers' goods and yield profit to the ship owners and the industry. Moreover, the demands of a high level of transparency, accountability, and responsibility have led to the need for efficient digitalization and decentralization of the shipping Industry.
Considering all the challenges involved in this industry, hence, the emergence #BitNautic
#Bitnautic is a decentralized system, in light of the Ethereum Blockchain, for organizing demand and supply of shipping organizations, for all the business accomplices; creators of items, logistics proprietors, mediators, dealers and exporters
BitNautic eradicates the old-fashioned system associated with human errors and inappropriate documentation.
BitNautic positions the shipping industry in a condition that avoids long chain and bottleneck that arises due to the involvement of excess parties. It creates a direct contact removing the activities of middlemen, enhancing profit maximization for the ship owners and the industry. This becomes very easy for the importers and exporters of goods (cargoes) to make transactions with the shipping Industry and clears the doubt of opacity in the industry.
The BitNautic blockchain stores and keeps secure track of all the ships across the world with their respective owners. All the business contracts executed between the shippers and carriers are backed up by the decentralized blockchain with every assurance of no errors.
The contribution of BitNautic to be the international trade and globalization cannot be underestimated. Hence, there is a need to decentralize the world shipping industry with a view of transparency, accountability, and efficiency.
BitNautic goes with unquestionable features like AI (Artificial Intelligence) based booking structure, and a markdown online business system.
Just to mention few;
