A Melbourne-based fintech company ‘Nauticus’ has recently launched a new Initial Coin Offering (ICO) wherein the native cryptocurrency Nauticus Coin will underpin six ethical global banking and e-commerce solutions using the blockchain technology.
The company is also said to be developing a Nauticus crypto and fiat currency exchange and is due to open soon in a few months by mid-2018. At the launch of the exchange, it will be supporting a 100 different cryptocurrencies including Bitcoin, Ethereum, Ripple, Nauticus Coins and others, and 6 different fiat currencies like EUR, USD, AUD, ZAR, JPY and HKD. Within the next 12 months of launch, the number of cryptocurrencies on the exchange is expected to grow to 300.
Nauticus aims to reduce the current anomalies in the process of buying/selling cryptocurrencies and allow the user to instantly exchange their digital currencies. Nauticus claims that its blockchain will process more than a million transactions a second with very low-cost fees as little as 0.1% per transaction. Nauticus will also be having its own wallet and mobile app that allows for one-click payments across the globe.
The funds raised through the Nauticus Coin ICO will be used for the launch of its exchange as well for the development of the future projects.
RoadMap for Future Projects
- By 2019, the company aims to launch its own ‘Green Blockchain Mining Center’ which will completely run on renewable energy and facilitate cheap and quick transactions to Nauticus users. Some part of the revenues generated by this will be used for future expansion while the remaining will be used for further developing economies and for social benefits.
- By 2020, the company aims to create a worldwide eCommerce platform to enable instant payments in any currency, crypto/fiat underpinned by the Nauticus Coin.
- By 2021, the company wants to establish its own merchant payment platform with instant payment settlements through different payment contactless payment methods like QR, Android Pay, Apple Pay, NFC etc. at a very reduced cost to just 0.1%.
- By 2022, The company will also develop a ‘one and done’ Know Your Customer (KYC) verification service using quality verification systems like biometric authorization.
- By 2023, Nauticus plans to launch ICO gateway and allows new ICOs to get registered an initiated on its platform.
Nauticus Coin (NTS) ICO Details
The initial tokens on the Nauticus exchanges will be created using the Ethereal ERC 20 guidelines until the time the company develops and implements its own ledger system. The token sale is currently undergoing in the time-frame between March 31, 2018 to April 30, 2018. Other attributes for the ICO include:
|Start date:||18 – 03 – 2018 / 00 : 00 GMT|
|End of ICO:||18 -05 – 2018 / 00 : 00 GMT|
|Total token supply:||2,500,000,000 NTS|
|Tokens supplied post ICO||NIL|
|Soft Cap:||$ 8,000,000.00 USD|
|ICO Target||$ 68,000,000.00 USD|
|Hard cap :||$ 88,000,000.00 USD|
The two co-founding members of the project are Jonathan Chang and Bryan Ng. Other members of the team are specialists across multiple disciplines of crypto mining, digital wallet, business development, blockchain system architecture, product specialists, quality assurance and others.
There is also an advisory board which includes professionals with past industry experience in banking and exchange as well technology, software and policy framing.
More details about the project can be obtained from its official whitepaper.