Easy and reliable shipping through effective Blockchain contracting
Around 90% of world trade is carried out by maritime freight transport. In the world there are over 50,000 merchant ships, registered in over 150 countries, which trade internationally, transporting all types of goods. The operation of these ships generates an estimated annual turnover in shipping rates of more than $0.5 trillion.
This hugely valuable industry has been troubled for years by challenges like:
- overcapacity,
- highly variable freight rates,
- cargo no show, by shippers
- cargo rolling, by carriers
- security threats and
- increasing regulations.
At the same time, 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,
- expensive freight rates,
- lack of transparency,
- limited number of sea lines, and
- difficulties in shipping small cargo.
This global inefficiency is estimated to cost the industry more than $23 billion/year (Source: New Jersey Institute of Technology). Reversing these trends presents the industry with tremendous economic potential. BitNautic mission is to disrupt the shipping industry as is today, by creating a disintermediating platform, that will provide massive benefits over traditional shipping:
- decentralized direct transactions (no middlemen),
- very low and flat fee 2% (no mark-up from brokers 5%-15%),
- instant payment (no delayed payment),
- transparent fixed all-in contracts based on blockchain (no complex/confusing contracts),
- booking deposit in crypto token governed by smart contracts (to guarantee both parties),
- online offers with direct terms negotiation (no opaque fares),
- support from independent agents,
- archival of all relevant documentation,
- a wholesale e-commerce platform to help local producers to export their goods.
BitNautic Platform will include the following applications:
- Booking System with Artificial Intelligence Matching and crypto Token Deposit,
- Ship Brokerage System,
- Cargo Consolidation System,
- Tracking System for ships and cargo, Wholesale e-commerce,
- Escrow service.
BitNautic will grow by generating revenues from enterprise subscriptions, cargo booking and shipping brokerage fees, wholesale ecommerce fees. BitNautic will issue the BTNT Token, an Ethereum ERC20 Token, that will be used within the BitNautic ecosystem to pay all platform fees. BitNautic is currently raising funds via ICO Crowdsale of the BitNautic BTNT tokens. BitNautic Pre-ICO Starts on May 1st. Join Us & Be Part of Solution!
Author: Richard Zoni, CTO of BitNautic
For more information, visit https://bitnautic.io
