Brazilian City Takes an Effective Measure Adopting Blockchain Technology in Transportation Industry BitNautic Follow Jul 31, 2019 · 2 min read

Fortaleza, a state of Brazil cut down the cost by accepting Bitcoin payments for public transport. This stride of Brazilian state enabling cryptocurrency as a payment method is worth enough in a landscape where cryptos are under constant thrash by several countries.

The objective revolves around making public transportation efficient by reducing cost and attracting more users. The chief financial officer of Cootraps stated that it would significantly reduce bureaucracy, bringing more users due to the ease of payment. The state will start accepting payments via Bitcoin by the end of 2019 and will also accept altcoins, as stated.

The action of Brazil’s fifth-largest city with 2.7 million population will open new gateways for cryptocurrencies, transportation, and logistics platforms operating on the blockchain. It is not the first event of its nature. Earlier Japan has also introduced cryptocurrency payments in its transportation industry. IBM and others are also working on blockchain and cryptocurrency-based shipment and transactional domains depicting a dynamic shift in existing procedures.

BitNautic is also one of them aimed at transforming the structure of maritime and cargo industry. It believes that by inducing blockchain in maritime shipment industry, we can annually prevent millions of dollar loss. Each year the logistics and shipment industry has to suffer due to poor carrier services providers, theft, spoiled cargo, damage of documentation, and insecure payments.

We at BitNautic provides you a platform for secured transportation and shipment of your cargo by enabling you to choose the best carrier and routes at affordable prices. It further allows you to opt for the best service provider based on his previous record. By reducing documentation and administrative cost, it also saves your money and makes transaction simple and swift via BitNautic wallet.