BitNautic

BitNautic is a decentralized shipping and cargo platform based on blockchain technology.

About BitNautic

BitNautic aims to develop a decentralized, blockchain-based shipping and cargo platform for consumers, traders, brokers, agents, ship owners, and the overall industry. BitNautic aims to provide a global marketplace for goods and commodities where importers, exporters, end-consumers, and producers can trade their products worldwide. The BitNautic platform will feature an AI (Artificial Intelligence) based booking system, real-time tracking of ships, and an e-commerce platform with special deals and exclusive discounts. BitNautic will introduce the BTNT digital currency and deploy smart contracts to support platform transactions.
Competitors: ShipChain, Maersk + IBM, Gazelle’s Blockchain, UPS
Uniqueness/Advantages to competition: Will also incorporate an AI based booking system.

Token Sale Use of Blockchain

Product

2.8
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

3.0
N/A
3 - Has growth potential.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.

Product

BitNautics is meant to be a blockchain-based platform for shipping and cargo tracking by creating a platform that is connected to the ships that are directly owned by the platform. There is currently a publicly accessible github repository for the project and there is an alpha app available for testing on the Google Play store. The blockchain beta dev/testing, and full platform launch are planned for after the ICO (see Roadmap).
There is appeal to the BitNautics product, given the increasing demand for transparency and security in shipping and cargo tracking. The potential / target user-base will grow with natural population development (given the increasing need for cargo tracking services) and cryptocurrency adoption in the general population. There is currently very large legacy competition in the sector of cargo tracking, and blockchain competition will stiffen over time as cryptocurrency adoption continues.
Competitors: ShipChain, Maersk + IBM, Gazelle’s Blockchain, UPS

Product Whitepaper

Use of Blockchain

2.8
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

3.0
N/A
3 - Automation; making something easier to do.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

3.0
N/A
3 - Issuing a custom token is justifiable.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

2.0
N/A
2 - Centralized with some plans to decentralize.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

3.0
N/A
3 - Interesting.

Use of Blockchain

The BitNautics token is ERC-20 standard initially and will be transferred to the native BitNautic blockchain later. The main utility of the token is for access to the platform, for using the tracking system services, and for participation in the e-commerce platform.
BitNautic’s contribution to blockchain development is in the utilization of the Ethereum blockchain for creating a new token, and for creating a new blockchain and e-commerce plaftorm for the shipping community.
The project’s primary disruptive advantage is based on its use of blockchain technology to create a transparent and secure ecosystem for cargo and shipping tracking and transactions.
The need for a custom token is for payment of transaction fees and for all services within network, to power the e-commerce platform, and as a tradable cryptocurrency available on the open market.
The contribution to the blockchain ecosystem is in developing a new blockchain based e-commerce platform for shipping and cargo tracking and transactions.

Use of Blockchain Roadmap

Whitepaper

3.4
Whitepaper
Comprehensiveness

Does it cover the full scope of the problem and solution?

3.0
N/A
3 - Covers most key issues; a few holes.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

3.0
N/A
3 - Basic honesty with some hype.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

3.0
N/A
3 - More information required.

Whitepaper

The whitepaper is professional, informative, and provides a balanced mixture of media and textual explanation. The whitepaper is 58 pages long and is overall readable and understandable. The whitepaper includes the following sections: Abstract, Introduction, Overview of Shipping Industry, Problems of Shipping Industry, Solution, Features, Why Blockchain?, Market Opportunity, Target Audience, Business Model, Use Case, ICO, Funds Allocation, Roadmap, Team, Advisors, Official Channels, and References. The business and technology plans behind Bitnautics are detailed and concisely explained including textual and graphical explanations.The technology presentation warrants a more detailed explanation of the connection between the blockchain technology and the AI/tracking technology. References are provided in end-note form.

Whitepaper Compliance

Roadmap

3.0
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

3.0
N/A
3 - A trend with potential.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.

Roadmap

A vague project roadmap is given with milestones presented on a quarterly basis. Obstacles lie ahead as beta platform development/deployment, and final platform release will occur after the ICO. The roadmap provides major milestones and no descriptions of the intermediate steps required to complete each milestone.

Platform Roadmap:
Q1 2018 – Pre Sale of BTNT Tokens
Q2 2018 – ICO of BTNT Tokens
Q3 2018 – BTNT Tokens Listed on the Exchange / Hiring BitNautic development Team / Shipping Platform development Initiation / BitNautic Blockchain development initiation
Q4 2018 – Establish Partnerships with Business Partners
Q1 2019 – Beta Version of Shipping Plaftorm including website and mobile application release / Shipping platform integrated with Blockchain / Genesis Block of BitNautic Blockchain Initiated / ICO Tokens are swapped to BitNautic Blockchain (BTNT coins) based on 1:1 ratio
Q2 2019 – E-commerce Platform Initiation
Q3 2019 – E-commerce platform beta version release / E-commerce Platform linked to BitNautic Blockchain / New Features Introduction based on the needs of customers
Q4 2019 – BitNautic Smart ATM Card Launched through partnerships with Banks

Roadmap Company and Team

Compliance

3.2
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

2.0
N/A
2 - Primarily, with few additional rights.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

4.0
N/A
4 - Professional.

Compliance

The main utility of the BitNautics token is for access to the platform, for using the tracking system services, and for participation on the e-commerce platform. The token smart-contract code is posted for review on the publicly accessible github repository and the alpha app can be accessed on the Google Playstore. Compliance is addressed with direct statements of AML & KYC Due Diligence and enforced with a registration whitelisting process which is bound by IP address location and will be in full compliance with UK and Switzerland laws. The terms and conditions document states “Every User must comply with the applicable anti-money laundering regulations, in particular the Swiss Anti-Money Laundering Act (RS 955.0) and cooperate for the identification process according the provisions for the prevention of money laundering and for the KYC checks.”The legal review and terms and conditions aim to absolve the company of any liability regarding the ICO and any problems that may occur, and provide a general statment that the tokens are not to be deemed a security.

Compliance Token Sale

Company and Team

3.4
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

3.0
N/A
3 - Company structure in place.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

3.0
N/A
3 - Minimally sufficient.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.

Company and Team

Bitnautics has an established team with 18 employees and 12 advisors.
The core team has experience in business development, PR, social media, sales, writing/publishing, graphics design, fintech, cybersecurity, software and web development, blockchain development, ICO advisement and bounty managment.
The advisors have experience in law, finance, venture capital and investments, blockchain projects and ICO advisement.
The core team has verifiable work experience credentials via LinkedIn profiles, though some profiles provide little information. Some members of the team appear to be dedicated to other projects outside of BitNautics.
Positives: The core team is well rounded and some members have previous experience with blockchain-related projects.
Negatives: Not all members may be fully dedicated to the project.

Company and Team Product

Token Sale

3.4
Token Sale
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

3.0
N/A
3 - Rough estimates, but sensible.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

3.0
N/A
3 - Sufficient company/community interest balance.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

3.0
N/A
3 - Some presence, lukewarm reception.

Token Sale

BitNautic Coin (BTNC)
Total supply: 50 Million BTNC
Token Price: 1 ETH = 500 BTNT
Hard Cap: 50,000 ETH
Min Cap: 5,000 ETH
*Unsold tokens will be destroyed

Bonuses
First Week 20%
Second Week 15%
Third Week 10%
Fourth Week 05%

Token Allocation
70% Crowd Sale (Pre ICO + Main ICO)
04% Founders
06% BitNautic Team
05% BitNautic Advisors
05% Bounty Program
10% Reserve Fund

ICO Proceeds Distribution
30% Facilitation of Ship Purchase
07% Admin Operations
30% Marketing & Sales
20% Research & Development
03% Legal Fees
10% Exchange Integrations

Social Media Presence & Following
There is some community engagment and reception.

Product

BitNautics is meant to be a blockchain-based platform for shipping and cargo tracking by creating a platform that is connected to the ships that are directly owned by the platform. There is currently a publicly accessible github repository for the project and there is an alpha app available for testing on the Google Play store. The blockchain beta dev/testing, and full platform launch are planned for after the ICO (see Roadmap).
There is appeal to the BitNautics product, given the increasing demand for transparency and security in shipping and cargo tracking. The potential / target user-base will grow with natural population development (given the increasing need for cargo tracking services) and cryptocurrency adoption in the general population. There is currently very large legacy competition in the sector of cargo tracking, and blockchain competition will stiffen over time as cryptocurrency adoption continues.
Competitors: ShipChain, Maersk + IBM, Gazelle’s Blockchain, UPS

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

3.0
N/A
3 - Has growth potential.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.
Product Score:
2.8

Use of Blockchain

The BitNautics token is ERC-20 standard initially and will be transferred to the native BitNautic blockchain later. The main utility of the token is for access to the platform, for using the tracking system services, and for participation in the e-commerce platform.
BitNautic’s contribution to blockchain development is in the utilization of the Ethereum blockchain for creating a new token, and for creating a new blockchain and e-commerce plaftorm for the shipping community.
The project’s primary disruptive advantage is based on its use of blockchain technology to create a transparent and secure ecosystem for cargo and shipping tracking and transactions.
The need for a custom token is for payment of transaction fees and for all services within network, to power the e-commerce platform, and as a tradable cryptocurrency available on the open market.
The contribution to the blockchain ecosystem is in developing a new blockchain based e-commerce platform for shipping and cargo tracking and transactions.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

3.0
N/A
3 - Automation; making something easier to do.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

3.0
N/A
3 - Issuing a custom token is justifiable.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

2.0
N/A
2 - Centralized with some plans to decentralize.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

3.0
N/A
3 - Interesting.
Use of Blockchain Score:
2.8

Whitepaper

The whitepaper is professional, informative, and provides a balanced mixture of media and textual explanation. The whitepaper is 58 pages long and is overall readable and understandable. The whitepaper includes the following sections: Abstract, Introduction, Overview of Shipping Industry, Problems of Shipping Industry, Solution, Features, Why Blockchain?, Market Opportunity, Target Audience, Business Model, Use Case, ICO, Funds Allocation, Roadmap, Team, Advisors, Official Channels, and References. The business and technology plans behind Bitnautics are detailed and concisely explained including textual and graphical explanations.The technology presentation warrants a more detailed explanation of the connection between the blockchain technology and the AI/tracking technology. References are provided in end-note form.

Category Breakdown
Comprehensiveness

Does it cover the full scope of the problem and solution?

3.0
N/A
3 - Covers most key issues; a few holes.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

3.0
N/A
3 - Basic honesty with some hype.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

3.0
N/A
3 - More information required.
Whitepaper Score:
3.4

Roadmap

A vague project roadmap is given with milestones presented on a quarterly basis. Obstacles lie ahead as beta platform development/deployment, and final platform release will occur after the ICO. The roadmap provides major milestones and no descriptions of the intermediate steps required to complete each milestone.

Platform Roadmap:
Q1 2018 – Pre Sale of BTNT Tokens
Q2 2018 – ICO of BTNT Tokens
Q3 2018 – BTNT Tokens Listed on the Exchange / Hiring BitNautic development Team / Shipping Platform development Initiation / BitNautic Blockchain development initiation
Q4 2018 – Establish Partnerships with Business Partners
Q1 2019 – Beta Version of Shipping Plaftorm including website and mobile application release / Shipping platform integrated with Blockchain / Genesis Block of BitNautic Blockchain Initiated / ICO Tokens are swapped to BitNautic Blockchain (BTNT coins) based on 1:1 ratio
Q2 2019 – E-commerce Platform Initiation
Q3 2019 – E-commerce platform beta version release / E-commerce Platform linked to BitNautic Blockchain / New Features Introduction based on the needs of customers
Q4 2019 – BitNautic Smart ATM Card Launched through partnerships with Banks

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

3.0
N/A
3 - An overall plan, major milestones stated.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

3.0
N/A
3 - A trend with potential.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.
Roadmap Score:
3.0

Compliance

The main utility of the BitNautics token is for access to the platform, for using the tracking system services, and for participation on the e-commerce platform. The token smart-contract code is posted for review on the publicly accessible github repository and the alpha app can be accessed on the Google Playstore. Compliance is addressed with direct statements of AML & KYC Due Diligence and enforced with a registration whitelisting process which is bound by IP address location and will be in full compliance with UK and Switzerland laws. The terms and conditions document states “Every User must comply with the applicable anti-money laundering regulations, in particular the Swiss Anti-Money Laundering Act (RS 955.0) and cooperate for the identification process according the provisions for the prevention of money laundering and for the KYC checks.”The legal review and terms and conditions aim to absolve the company of any liability regarding the ICO and any problems that may occur, and provide a general statment that the tokens are not to be deemed a security.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

2.0
N/A
2 - Primarily, with few additional rights.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

3.0
N/A
3 - Prototype / MVP / alpha.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

4.0
N/A
4 - Professional.
Compliance Score:
3.2

Company and Team

Bitnautics has an established team with 18 employees and 12 advisors.
The core team has experience in business development, PR, social media, sales, writing/publishing, graphics design, fintech, cybersecurity, software and web development, blockchain development, ICO advisement and bounty managment.
The advisors have experience in law, finance, venture capital and investments, blockchain projects and ICO advisement.
The core team has verifiable work experience credentials via LinkedIn profiles, though some profiles provide little information. Some members of the team appear to be dedicated to other projects outside of BitNautics.
Positives: The core team is well rounded and some members have previous experience with blockchain-related projects.
Negatives: Not all members may be fully dedicated to the project.

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

3.0
N/A
3 - Company structure in place.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

3.0
N/A
3 - Minimally sufficient.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.
Company and Team Score:
3.4

Token Sale

BitNautic Coin (BTNC)
Total supply: 50 Million BTNC
Token Price: 1 ETH = 500 BTNT
Hard Cap: 50,000 ETH
Min Cap: 5,000 ETH
*Unsold tokens will be destroyed

Bonuses
First Week 20%
Second Week 15%
Third Week 10%
Fourth Week 05%

Token Allocation
70% Crowd Sale (Pre ICO + Main ICO)
04% Founders
06% BitNautic Team
05% BitNautic Advisors
05% Bounty Program
10% Reserve Fund

ICO Proceeds Distribution
30% Facilitation of Ship Purchase
07% Admin Operations
30% Marketing & Sales
20% Research & Development
03% Legal Fees
10% Exchange Integrations

Social Media Presence & Following
There is some community engagment and reception.

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

3.0
N/A
3 - Rough estimates, but sensible.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

3.0
N/A
3 - Sufficient company/community interest balance.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

3.0
N/A
3 - Some presence, lukewarm reception.
Token Sale Score:
3.4

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