Introduction
A high percentage of the world's economy is majorly on trading. Hence an expansion of trading opportunities lead to an increase in revenue generated. Trading is almost impossible without the reformation of the transportation sector as this will stampede or hinder the distrubution of goods round the globe. Shipping which is a major form of transportation of goods is therefore one of the essential part of every nation's economy.
Shipping industries accounts for about 90% of the world's economy and majority of this trade is carried out via international shipping industry. With the exception shipping, importation and exportation of goods would be impossible as a lot of heavy containers can only be transported via sea.
The expansion and growth of seaborne trade has brought numerous benefits for consumers across the works through competitive freight cost which has been made possible due to the efficiency of shipping as a mode of transportation. There is still prospect for this industry to expand more and more by the day. However there are certain challenges currently facing shipping industries and they are highlighted thus:
- Inability to monitor or track down ships or containers from one point to the other
- Exorbitant shipping fees because third parties are involved in the shipping process
- Documentation which may lead to surcharges or delay if errors are found
- Little or no knowledge on landscape shipping and lots more.
It is on this premise that bitnautic platform is introduced in other to put an end to these challenges currently plaguing the industry.
BITNAUTIC
BitNautic is built on a decentralized platform that gives the stakeholders (importers, exporters, merchant, carriers, ship owners, agents etc) of a shipping industry a platform to meet and discuss or agree on their own terms without the involvement of a third party. In other words, bitnautic integrates Blockchain technology into shipping industry in the sense that every transaction is carried out on chains of blocks which makes it secured and transparent.
BENEFITS OF BITNAUTIC PLATFORM OVER CONVENTIONAL SHIPPING PLATFORM
- Globalization
At any point in time, at any particular location and with the help of bitnautic platform all cargo users can effortlessly list their cargo for easy visibility and all users can equally monitor the situation of the world market freight. - Reliability
Blockchain technology has the ability to make transactions faster and seamless. With blockchain integrated in bitnautic platform there will be no disorderliness in booking system as all invoices will be matched based on blockchain transactions. - Simplicity
The processes of tracking and monitoring transactions are easy. By inputing the tracking number of a cargo it is matched to the carrier. - Transparency
Due to Blockchain interoperability and transparency, all transactions and shipping can be monitored by everyone. - Cost Effective
Since third parties are not involved and direct contact is the order of the day, shipping fees and transactions are going to be as cheap as possible.
Conclusion
In conclusion, it is good cause to know the benefits behind bitnautic and it is known fact that this is the world real time solution to all challenges plaguing cargo shipping industries. With bitnautic platform there is ease in transportation and trading which can easily grow the economy of any nation.
TOKEN INFORMATION
For more information on bitnautic please visit:
Website: https://bitnautic.io/
Whitepaper: https://bitnauticcdn-bb3d.kxcdn.com/public/white-paper-en.pdf
ANN Thread Link: https://bitcointalk.org/index.php?topic=3351552
Telegram: https://t.me/bitnautic
Facebook: https://www.facebook.com/bitnautic/
Twitter: https://twitter.com/BitNautic
Authors Bitcointalk username: promudy
Bitcointalk profile link:https://bitcointalk.org/index.php?action=profile;u=2050345