A blockchain technology is a decentralized technology and it also called as a digital ledger of data and information. The ledger is immutable therefore no one can interrupt or can change the information because it is very secured and protected on the blocks. Therefore because of secured nature of blockchain system, every business wants to set up a business or platform on blockchain to increase the reliability and transparency to gain the trust of their customers. The platform Bitnautic is also based on blockchain technology which helps the cargo and shipping industry by facilitating ease of service. Now we will see how the platform Bitnautic platform.
What is BitNautic?
SHIPPING,
THE WAY IT SHOULD BE
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.
How BitNautic works?
The traditional way of the delivery transaction involves a lot of sales contract document, the Charter party agreements, bills of lading port documents, letters of credit and other related ship and cargo. All these documents must pass through a long chain of Department. BitNautic win over the old traditional way of shipping, which eradicates the need for some of the contracts to be signed some time and therefore reduce the document.
BitNautic also provides services and transportation which is internally boosted by decentralized Blockchain Technology. Inspired by the way Blockchain payment system works, BitNautic proposes a trading platform for commodities where consumers, importers/exporters, ship-owners, service providers and producers of goods will be able to trade their products in the open market and free trade environment. The potential of Blockchain within this platform makes it invulnerable to hacks, frauds or viruses making it totally transparent and secure.
BitNautic also provides services and transportation which is internally boosted by decentralized Blockchain Technology. Inspired by the way Blockchain payment system works, BitNautic proposes a trading platform for commodities where consumers, importers/exporters, ship-owners, service providers and producers of goods will be able to trade their products in the open market and free trade environment. The potential of Blockchain within this platform makes it invulnerable to hacks, frauds or viruses making it totally transparent and secure.
The Bitnautic Decentralized Shipping Platform, takes the product, the manufacturer, the transporter, the consumers and everything else in-between, to one surface. The implementation of Blockchain Technology and smart-contracts makes the process more transparent, secure, effective, less time-consuming and less vulnerable to cyber attacks. Moreover, it makes the tracking of Orders, shipments, consignments, container or of a ship more accurate and effortless. The AI (artificial intelligence) systems manage and control most of the process to avoid any human errors or inefficiencies. The complicated calculations of estimated delivery time of a shipment, which is otherwise influenced by unpredictable factors like the bills of lading, port documents, letters of credit and others related to vessel and by the weather conditions on the route to be followed by the ship, will be calculated by the AIs. It solves the biggest challenges faced by the shipping industry as one single solution with the implementation of Blockchain Technology and smart contracts.
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