Article published by : Garry Singh on Wednesday, February 21, 2018 - Viewed 60 times

Category : Business

How Will Bitnautic Increase Market Opportunities In The Shipping Industry?

BitNautic is a decentralized shipping platform based on blockchain technology. BitNautic, aim to provide a better fortune and golden opportunity to consumers, traders, brokers/agents, ship owners and the overall industry. BitNautic is determined to encourage open market and free trade, increase international cooperation, public-private partnerships within the industry, knowledge sharing and bridging the gaps between government regulators and the shipping industry.

Market Opportunity: -
In an industry as elusive as shipping, counter taking the right job at the right time can be beneficial for the traders. As the world innovates, so do the face of the shipping industry, from cargo to logistics. Especially due to fast evolution of technology, AI (Artificial Intelligence) and globalization are converging during this crucial time in world history, pointing towards a fourth industrial revolution. This paves the way for a golden opportunity to prosper in the maritime industry by going digital.

Despite facing many threats and few declines, the statistics of the shipping industry are expected to lean uphill as many of its related sectors have shown a positive movement.

These changes are necessary to bear in the mind since their ramifications are monumental. For example, the energy business has been long-term. Finding and establishing new sources of fossil fuel takes time and so does developing the infrastructure. Latest technology innovations in the energy services form renewable energy, smart grids to advancement in oil drilling procedure and parts of global energy supply have become more and more flexible. As the ratio of elastic energy system increases, the contribution from renewable energy sources is growing across most regions.

On the demand side, most forecasts hinge on the belief that the global population growth will remain to drive global economic growth by turning farmers into consumers. The general assumption is that this spread will be powered by fossil fuels and more people joining the world economy will be creating more trade-intensive global consumers, and the global middle class is set to grow within next decade, energy demand is expected to go higher.

The industry is progressively considering data as a competitive choice. Trade data fuels the algorithms that present insights into markets, customers, and business processes. By designing a trading platform from which data is stored and evaluated, different players within the ecosystem of global trade from shipowners to suppliers, banks, brokers and insurance companies can prepare existing business models and create ingenious new business models that tap into value far beyond the ongoing capacity. For shipowners, the trade data can turn out to be at least as important as their asset were in the past and can enable significant cost reductions from productivity gains.

With all the transformation that is happening in the shipping industry is facing nowadays, it remains the driving strength of the global economy.


Keywords: BitNautic, Medium

By: Garry Singh

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Article ID 1057826 (Views 60)

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