BitNautic

BIT NAUTIC

This is a decentralized platform for shipping industry based on Ethereum Blockchain which easily connects all the industry stakeholders such as importers, exporters, shippers, carriers and agents whose association prevents the long chain that arises due to multiple parties involvement.

PROS:

• Reliable: The platform enables  shippers and carriers to benefit from reliable booking system based on digital contracts backed by blockchain technology in which they can execute a contract  and locks in space and equipment for six months in advance without any change in the rates
• Security: The user's contact information, ship names and all the private data about their assets are only available to the respective owners and the platform enables the users to decide with whom to share this information
• Global: The ship owners all around the world to list their ships  and update  positions  and the cargo owners  are  also able to list their cargos with a detailed  requirement with the platform enabling easy link-up between them based on the real-time positioning
• Affordability: The platform requires a small subscription fee with fixed rates enabling the users to conveniently use it. It further eliminates the need for intermediaries preventing the users from incurring any unexpected costs
• Transparency: The platform displays all the user's details transparently enabling them to see their status, position of ships and other specific details in real time
• The platform use gives the users the opportunity to advertise and trade wholesale goods as they are able to directly list and sell their goods in association with their specific place of loading  hence increasing the revenues  and offering opportunities to international traders
• The platform white paper is properly detailed with all the required information about the platform use enabling the users across the globe to easily understand its implications

CONS:

• Fewer team members involved
• The platform is lacking mobile application supported by Android and IOS  for easy connections
• The BTNT tokens don’t give rights to the project dividends and overall profits generated hence cannot be used as a security

SUGGESTIONS:

• The platform technical team should develop a mobile application supported by Android and IOS to enables the users to easily connect with the shipping services from any point across the globe
• The platform should involve more team members and advisors

NOTE:

The platform use clearly improves the shipping industry as it makes the associated services simpler, affordable and transparent backed up with full security of the user's information through an easy connection with different stakeholders. This makes me invest in the project.