Project overview

BitNautic is a decentralized shipping and cargo platform based on blockchain technology. BitNautic acts as a marketplace for goods and commodities where importers, exporters, end-consumer, and producers can trade their products and ease their trading practices all over the globe. BitNautic comes with distinctive features like AI (Artificial Intelligence) based booking system, a real-time tracking of ships, an e-commerce platform, special deals and exclusive discounts.

BitNautic provides shippers an easy way to book ships and keep records of their imports or exports.

Carriers and Ship Owners can list their ships with complete specifications and maintain the availability of their ships. The platform offers a direct communication of ship owners with agents and shippers.

Agents of the shipping industry can use it to find new customers and increase the services. With our platform, they can communicate with ship owners, importers, exporters and producers, and also, they can list ships on platform and contact with carriers.

Token model

The BTNT Token, an ERC20 token, will be issued to create a decentralized shipping and cargo platform and a wholesale e-commerce platform built on top of Ethereum blockchain. It is designed to facilitate efficient transactions of a wide range of services on BitNautic platform, whilst also operating as a medium of exchange and a store of value that could become more valuable in line with the growth of users and increasing use of the platform.

More precisely, the BTNT token will be used to pay the yearly subscription fees for professional use of the BitNautic Platform, fees for cargo booking, fees for using the ship brokerage system, yearly subscription fees to the tracking system, fees for using the escrow service and fees for using the wholesale e-commerce platform.

Whitepaper

The BitNautic whitepaper isn’t thorough enough. The token model and token economy are explained in a very high-level manner, without going into any of the technical details. The whitepaper is more like a guide on how to use the platform, instead of an explanation of how it works. The first 10 pages (out of 35) are used to describe the shipping industry while only 1 page is used to describe the token model. Finally, the way the whitepaper is structured makes it look more like a PowerPoint presentation than a whitepaper.

BitNautic Team

Gianfranco Pierini – Chief Executive Officer, Co-Founder

1984/1999 Logistics manager and management – Interfood SA Import of foodstuffs – logistics

1999/2005 Director and administrator of Quality Food Sagl – logistics Import of Food and Non-Food exclusively for very important brands

Since 2006 he is still Director and administrator of Acqua2o Sagl Importing bathrooms – Spa – Saunas – etc …

From 2013 still Director and administrator Elite Import sagl Quadrini brand exclusivist E-Bike import

Richard Zoni – Chief Technology Officer

Highly motivated Executive with strong business development skills. Several years’ experience in selling Cyber Security Solutions to the Enterprise Sector, focusing on Top customers. Strong technical background in Cryptography and Cybersecurity. Experience in strategic sales, account mapping, marketing actions planning, resellers management. International experience in South Emea and Mediterranean countries; fluent in English, French and Italian. Strong relationship development skills with contacts at C level. Demonstrated experience in growing revenues in new markets and new territories. Team player and company leader with strong network in security market.

Anmol Bajwa – Co-Founder

Entered the FinTech market with the creation of Bitnautic, a decentralized platform for trading purposes. Operated in a wide range of activities particularly in the management and retail sector of the business environment. Excellent verbal and written communication skills in addition to the knowledge of seven languages. Volunteering for BlackBerry Mobile and studying Business Management in London.

Garry Singh – Chief Information Officer

Experienced Co-Founder with a demonstrated history of working in the information technology and customer services industry. Skilled in Customer Relationship Management, People Management, Customer Service Operations, Technical Training, and IT Operations. Strong business development professional with a Bachelor’s Degree focused in Information Technology and Masters in Business Administration.

Ashton Addison – Chief Marketing Strategist

Mr. Addison is a business degree graduate, entrepreneur, and digital enthusiast with experience in computer technology, webdev, SEO and internet marketing, finance and financial markets, accounting, economics, cryptocurrency, blockchains and distributed blockchain technologies.

Ashton founded EventChain.io a Smart Ticketing platform on the Ethereum blockchain designed to solve a long list of issues with the centralized event ticketing industry.

Roadmap

Q2 2018: ICO (Crowdsale) of BTNT Tokens

Q3 2018: BitNautic platform available for public testing (public beta)

Establishment of partnerships with selected Carriers

BTNT Tokens listed on the exchange

Q4 2018: BitNautic Platform official release

Q1 2019: Shipping platform integrated with blockchain

Q2 2019: Wholesale E-Commerce available for public testing (public beta)

Q3 2019: Wholesale E-commerce platform official release

ICO terms

Pre-ICO: May 1st – May 31st

Main ICO: June 1st – July 30th

Ticker: BTNT

Token type: ERC20

ICO Token Price: 1 ETH = 500 BTNT

Softcap: 5 000 ETH (approx. $3 000 000 USD)

Hardcap: 50 000 ETH (approx. $30 000 000 USD)

Bonus for Pre-ICO: up to 30%

Total Tokens: 50,000,000 BTNT

Available for Token Sale: 70%

Accepts: ETH

BitNautic has done an Airdrop of 125 000 BTNT in February and one of 1 000 000 BTNT in April.

Token distribution

Use of funds

Community hype

Telegram: 90 289 members

Twitter: 7 064 followers

Reddit: 46 subscribers

Strengths

BitNautic offers a solution to an actual real-world issue

Their team is very experienced in the freight industry

Red flags

Their Telegram group got 80 000 members in 3 days which is very suspicious

The token is only used for paying fees on the platform. This will lower its value significantly over time.

BitNautic intends to spend 30% of the money raised to buy ships, but if they raise their hardcap, that would only give them around $9M USD for ships. This is insufficient considering that the average price for one small cargo ship is around $10M.

Ratings

Team: 5.8/10

The BitNautic team is very experienced in the freight industry. They however have little experience in startups and in blockchain. This means that they will have to rely a lot on their advisors.

Token model: 1.25/10

The BTNT token is only used as a means of payment on the BitNautic platform. There is no incentive to hold the token, so the value of the token will drop in the long run due to its high velocity.

Token distribution: 9/10

Their token distribution is excellent with the team and founders only keeping 10% of all tokens and 5% of all tokens being given away as community rewards.

State of the project: 6.3/10

BitNautic doesn’t even have a live beta yet. They do however have a detailed roadmap and are very open when communicating with their future investors/userbase.

Market: 7.2/10

The shipping software industry is fast growing and could benefit from the integration of blockchain technology. However, there are other projects similar to what BitNautic offers already in the works, including one by IBM.

ICON score: 5.9/10

Conclusion

At Icon Partners, we think that BitNautic offers an interesting project with real-world applications. The team behind it is very experienced in the freight industry so they know the problems that need to be fixed. However, their lack of in-house blockchain expertise is reflected in the quality of their whitepaper and token model. Their token model is weak and doesn’t give their users any incentive to hold BTNT which will greatly increase the token’s volatility and always keep a downward pressure on the token’s value.

We encourage you to do your own research and come to your own conclusions when investing in an ICO. All the information in this review are either facts or ICON Partners’ opinions and should not be used as investment advice.

Links:

Website

Whitepaper

Telegram

Twitter

Reddit

P.S. Sign here for our daily publications!

This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations