The fintech company called Nauticus that is based in Melbourne, Australia has just announced that the will be holding their own initial coin offering (ICO) beginning on the 31st of March. This is just the first part of what they have proposed as being six key ethical solutions to issues plaguing the worldwide ecommerce and banking systems by utilising blockchain technology.
What are the details about this token sale?
Pre-registration for this ICO has already started, with those early people who sign up being rewarded with 100 coins for free. Unlike the majority of ICOs that take place, those who get involved with the Nauticus ICO will be able to utilise and trade their new Nauticus coins straight away thanks to their new crypto and fiat currency exchange.
Those users of the native coins will also be given a reduction of 50% on trading fees on the platform, which is part of how they are hoping to drive the use and price of their new coin.
What is the deal regarding their exchange platform?
This platform is currently in development and it is planned to have been launched by the middle of 2018.
Initially, there are going to be about 100 different cryptos available, as well as six different fiat currencies (ZAR, AUD, HKD, JPY, EUR, USD). Their goal is to have more than 300 cryptos on the platform within the first twelve months.
This means that if they are successful with these goals, they will breach the top ten crypto exchange in the world as of right now. They also plan to expand to cater for a total of 16 different fiat currencies.
Each and every day across the world there is on average $30 billion in crypto traded. This is only set to grow as digital currencies become more popular and more mainstream. Despite these massive levels of transactions, there are only about 170 crypto exchanges at the moment facilitating for this activity.
What other plans do they have as a company going forward?
In 2019, they are planning to create a large-scale mining centre which will add to their revenue, as well as ensuring that there are top quality speeds available for those who use the Nauticus services. Their goal is to have this mining centre run on renewable energy.
Any profits that are made will be put straight back into the business to help develop an ecommerce marketplace, as well as a platform for both peer to peer and merchant payments.