BITNAUTIC PROJECT (ICO 2018)-A TECH FOR YOUR SHIPPING NEEDS

INTRODUCTION

The shipping industry has been developed to facilitate international trade through connecting sources of supply and demand for commodities including raw materials, manufactured goods, and finished products, as well as transportation of passengers, cars and even livestock, between ports and countries.

The growth in seaborne trade in the last century has led to the expansion of the shipping industry and its related businesses and markets such as shipbuilding, ship-broking, insurance, together with shipping finance and investment. In addition, the growth in international trade has also been the reason behind the design of larger and more specialised ships to carry specific commodities in order to achieve economies of scale in sea transportation. Furthermore, the shipping market has been shaped and structured in such a way as to accommodate the needs of charterers by defining different types of contracts varying in their duration, method of payment and cost allocations.

Commodity trading firms normally operate shipping or freight desks. They act as service providers to the company’s traders, getting them competitive freight rates and hedging freight rate risk. They will often also trade a portfolio of shipping services for third-party customers, booking voyage and time charter clients when they have unused capacity, and pursuing freight arbitrage opportunities for the company.

Freight specialists aim to minimise transportation costs, but supply and demand factors can greatly affect operational expenses for particular vessel types. With voyage charters, they need to locate a vessel with the ability to load their cargo and berth at the required locations at the agreed times. Time chartering provides more flexibility, but to be cost-effective, these vessels need to be fully utilised across the chartering period. Trading firms often have freight desks that make idle timechartered vessels available to third parties. Freight traders aim to mitigate freight risk by hedging their future freight obligations using swaps or forward freight agreements (FFAs). Bunker fuel, another major cost of chartering, is also subject to market volatility. Traders use bunker derivatives to hedge theire future fuel costs. Chartering terms are set out in Contracts of Affreightment (COAs). These include Incoterms, which specify rights and responsibilities. They also specify penalties, such as the demurrage fee payable to the owner if the vessel takes longer than agreed to load and unload. Newer, cleaner and more efficient vessels are progressively replacing older ships in the current global fleet. Many regulators have reduced the maximum permissible sulphur content in bunker fuel in recent years in response to environmental concerns. In the medium term, these dynamics may lead to a shortfall in the supply of suitably located and equipped vessels, with a consequent increase in chartering costs.

My aim for writing this article, is to present you some tips on how to make the SHIPPING AND TRADING OF COMMODITIES more easier for everyone.

Today, I will be presenting you an unbeatable and undisputed project called: BITNAUTIC

WHAT IS BITNAUTIC?

BitNautic is a decentralized platform, based on the Ethereum Blockchain, for matching demand and supply of shipping services, for all the industry stakeholders: producers of goods, ship owners, charterers, brokers, importers and exporters. BitNautic comes with distinctive features like AI (Artificial Intelligence) based booking system, a real-time tracking of ships and cargo, and a wholesale e-commerce platform.

ABOUT BITNAUTIC

Today, shipping industry accounts of around 90% of the value of the World Trade. Shipping is the life blood of the global economy. Without shipping, intercontinental trade, the bulk transport of raw materials, and the import/export of affordable food and manufactured goods would simply not be possible. This hugely valuable industry has been troubled for years by challenges like overcapacity, highly variable freight rates, security threats and increasing regulations. On the other hand, local producers, charterers and shippers, especially the ones operating from developing countries, are facing several problems when it comes to shipping, like the high number of intermediaries, the expensive freight rates, the lack of transparency, the limited number of sea lines, and the difficulties in shipping small cargo. It’s a well-known fact in the industry that global shipping has to increase efficiency, improve processes and perform a fundamental digital transformation, to ensure future profitability for the ship owners, and to provide more opportunities for the charterers and producers all over the world. To solve the industry critical problems, we are creating BitNautic, a distributed platform, based on the Ethereum Blockchain, for matching demand and supply of shipping services, for all the industry stakeholders: producers of goods, ship owners, charterers, brokers, importers and exporters. In our vision BitNautic contribution to the digitalization and decentralization of the shipping industry, will contribute to the growth of developing countries, in an open market and free trade, increasing international trade and cooperation, public-private partnerships within the industry, knowledge sharing, and bridging the gap between government regulators and the shipping industry. BitNautic has started his operations with a focus on the emerging countries of the Africa continent. BitNautic development and expansion will be funded with the Crowdsale of the BitNautic Token BTNT, used to access the BitNautic platform.

BITNAUTIC FEATURES

• 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.

•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.

•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.

•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.

•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.

•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.

INITIAL COIN OFFERING (ICO)

The ICO is a natural supplementary funding source to further accelerate the development and global adoption of the BITNAUTIC PLATFORM

★ICO DATE

ICO Starts: May 1, 2018

ICO Ends: July 30, 2018

ICO Supply: 35 Millions

★TOKEN AND ICO ANALYSIS

•PreICO Price »» 1 ETH = 500 BTNT

•Price 1ETH »» 500 BTNT

•Bonus »» Available

•Tokens type »» ERC20

•Accepting »» ETH