As the rise of cryptocurrencies shows no signs of slowing down, more and more reliable exchanges are needed to facilitate the increasing trades of many digital coins.
Bitcoin and other cryptocurrencies used to be traded peer-to-peer and without proper regulations in its early days. Back then, barter systems were common with Bitcoin usually being traded for goods and services instead of cash, perhaps most famously demonstrated in the Bitcoin pizza story..
As new cryptocurrencies were created and the usage of digital currencies became more popular people started to treat cryptocurrencies as real currencies—that is with actual exchange rates and proper trading processes attached to it.
One of the more prominent results of this change is the birth of cryptocurrency exchanges, essentially online platforms that allow users to buy, sell or trade cryptocurrencies in a proper manner.
While cryptocurrency exchanges sound good in nature, the actual practices of today’s exchanges are not the best and in some situations, they are downright shady.
First of all, the barrier to entry for cryptocurrency exchanges is incredibly high to first-time cryptocurrency investors. Other than being hard to use, exchanges often restrain users to limited currencies and transactions are often region-locked.
Most exchanges also don’t support altcoins (cryptocurrencies other than the big two, Bitcoin and Ethereum) and they may also be regulated poorly which causes disastrous situations like the infamous Mt. Gox exchange closure a few years back.
With the rise of cryptocurrencies, there needs to be an exchange (or exchanges) that can solve these problems and at the same time, provide a safe, easy, and efficient means to trade cryptocurrencies between individuals.
Nauticus is a Melbourne-based digital exchange that aims to become the one-stop solution for all things related to cryptocurrency transactions.
It is also the world’s first exchange to offer 100 cryptocurrency pairs and seven fiat currencies at launch with the available currency pairs set to be expanded in the future.
In a nutshell, Nauticus will allow individuals from all over the world to purchase various cryptocurrencies with their own local currency easily. Aside from that, the platform will also offer other financial solutions (e.g sending and receiving payments internationally) with the help of the blockchain technology and Nauticus Coins, the platform’s official cryptocurrency.
Nauticus is a registered company under the Australian government regulator, Australian Transaction Reports and Analysis Centre (AUSTRAC), which means that the platform will the one of the most, if not the most, thoroughly regulated exchanges in the world.
The platform has raised more than $11 million so far and is backed by 3 international investment funds with the platform itself expected to be launched mid-2018. Although it has not been officially launched yet, Nauticus already has more than 200,000 registered users at the time of writing.
Aside from the exchange, Nauticus will also be creating a sustainable blockchain mining center powered by renewable energy that will provide extra revenue to the company; the platform will also provide a significant amount of extra server capacity to process all of Nauticus’ services faster than any exchange on the market today.
An international crypto and fiat exchange
Nauticus’ main product is an international cryptocurrency and fiat exchange that uses the Nauticus Coin as a means to trade with all of the crypto and fiat currencies available on the platform.
Nauticus Coin users have the benefit of having a 50% percent discount on trading fees in the first year which is just the icing on the cake as the platform already has low transaction and trading fees to begin with.
Nauticus’ high-speed platform will be able to power up to a million transactions per second which make the platform the fastest exchange available today. The exchange can be accessed on desktop, web, and mobile devices, allowing users all over the world to trade and access their funds securely.
A green blockchain mining center
As mentioned earlier, Nauticus will establish a blockchain mining center by 2019 to specifically enable cheaper and faster transactions for the platform’s users.
In addition to keeping costs low, a portion of the profits generated will be used for social benefits such as aiding local communities with health and education funding. The team also plans to partner with governments to use the center for projects which further boosts the effectiveness of the mining center.
An eCommerce platform
Nauticus will also provide a fully-fledged eCommerce platform by the year 2020 that will allow payments to be made in either crypto or fiat currencies in a global marketplace. This marketplace allows businesses of all sizes and any buyer or seller to participate in it easily regardless of location or the type of business (although it has to be legal).
Nauticus’ eCommerce platform boasts extremely low transaction fees (as low as 0.1%) to improve margins and it will also be integrated with state-of-the-art security features to protect against fraud and breaches.
A supply chain verification system powered by the blockchain will also be installed in the marketplace to further improve the security of products traded on the eCommerce platform.
A merchant payments platform
The team also plans to offer a full-suite merchant payments platform which will be empowered by AI, Big Data, a global payment POS software and is supported by Nauticus Coins.
This solution provides all of the business solutions needed by businesses of any sizes; it also provides support for enterprises and governments, instant merchant fund clearance, and the ability to support quick-processing P2P payments or mobile payments.
This feature is planned to be launched by the year 2021.
Global KYC verification system
The company aims to become a global partner in the KYC process which will allow verified users in Nautica to not go through another round of verification when dealing with other business partners or organizations.
User data will be kept secure and private as only necessary data will be passed along to other businesses. However, data can only be shared to other parties if the user specifically gives Nauticus the rights to do so.
Users are given the right to authorize the sharing of their own data through biometric identification which also allows them to choose which data of theirs is allowed to be accessed by third-parties.
ICO gateway for new ICOs
Nauticus will also be providing a base and the necessary resources for new ICOs to launch smoothly. These resources included audited IT templates and code, financial and legal assistance, as well as consultants to help in various aspects of launching and closing a successful ICO.
This feature will help future companies to launch better ICOs that will satisfy both the demands of companies and potential investors. It also presents a much better option for companies who have never had any experience with ICOs previously.
Nauticus is launching a token sale for the Nauticus Coin, the platform’s official utility token. Nauticus Coins will be used to power transactions on the platform’s ecosystem and used as the base coin for transactions in the exchange.
ICO backers will be able to use and trade Nauticus Coins immediately on the exchange once it is launched.
Token name: NTS
Token base: Ethereum
Token supply: 2,500,000,000 (max token supply)
Token sale duration: March 31, 2018 – May 18, 2018
Token sale target: $8,000,000 (soft cap) | $68,000,000 (ICO target) | $88,000,000 (hard cap)
Token exchange rate: 0.0001 BTC = 1 NTS