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Interview with the Nauticus team

Written by Jaymin Shah

Today, I have interviewed the Nauticus team on their ICO and future projects. Nauticus is developing a user-friendly, efficient and secure crypto banking, payments and eCommerce solution.

1) What problem are you solving, why do you need the blockchain technology and what are the main pillars that define your company and differentiate you from your competitors?

Current bitcoin and crypto exchanges are difficult to use for everyday users. They don’t offer a one stop shop to buy and trade all the cryptocurrencies and fiat currencies most users want — this is where Nauticus comes in.

Aiming our solutions at average users — not just people who are well-versed in blockchain technology already.

Upon the launch of the Nauticus exchange, we will include up to 100 cryptocurrencies and 6 fiat currencies. Within 12 months we aim to boost this up to 300 cryptocurrencies and 16 fiat currencies — this is more than any other exchange in the world.

We are working hard to include as many fiat currencies as we can, depending on the demand for it. For example, in a survey we recently introduced, there was a huge demand for the Russian Ruble to be introduced on our exchange. We want to keep our users’ needs and wants first priority — we are building the service for them so we need to make sure it’s consistent with what we think they want/need.

We’re also registered with Australian government regulator AUSTRAC as an independent remittance dealer which means we are able to transfer funds in and out of the platform.

The overall picture of Nauticus is the fact that each platform is built off the previous one. The exchange, which is the first solution we will launch in mid 2018, is the foundation to all the other solutions we have such as the e-commerce and global payments platforms.

2) What value are you adding to your industry value chain and which are the main obstacles to the success of your solution?

We aim to make buying a Bitcoin as easy as ordering a pizza.

Users currently needs half a dozen exchanges to access all the coins they desire — we will become a ‘one stop shop’ which means lower transaction fees, and easier reporting for tax.

Creating a better world for everyone, including those who are underprivileged. Here at Nauticus we are dedicated to social responsibility and philanthropy. Our blockchain mining centre will be environmentally friendly as it will only use green energy — keeping costs low will help provide a social benefit to the communities living in the area, such as providing employment, improving infrastructure and increasing living standards. That in itself is a value-added component.

One big obstacle is the issue of trust in ICOs at the moment. With the amount of ICO scams uncovered over the past year, we don’t blame users for being vigilant and cautious about where they’re putting their money into. In fact, we urge them to do their due diligence before investing in ANY ICOs. Read the whitepaper, get to know their team, see what people are saying about them and join their Telegram chats.

3) Why did you decide to launch an ICO and why do you need a public Token Sale?

From the get go we have already been working on a large scale, and we are aware of this. 6 solutions for one coin certainly sounds ambitious, but we really want to see to the success of the project. To do so however will require a large amount of investment (in particular for banking licenses to operate internationally with so many fiat currencies) — one that we cannot personally come up with ourselves. Apart from raising funds of course, we want to look for like-minded supporters who share the same vision and really believe in our project and what we want to do. By launching an ICO, anyone in the public can join. This also means that we are directly targeting our end-users.

4) How does your token function within the platform and why is it needed? How did you decide the total supply and distribution among stakeholders?

We mentioned before that one of the key differentiation points from our competitors is that the Nauticus token (NTS) is an essential part of the solutions. For example, NTS holders will enjoy 50% off trading fees in the first year, stimulating adoption and supporting the value of the token. Token holders will be able to benefit from real market rates, instead of extra charges typically imposed by banks or other institutions in return for using their services.

With our users in mind, we have allocated 80% of our tokens to them — that’s 2 billion out of the 2.25 billion tokens we are planning to issue altogether. Understandably, we have a small pool of 10% dedicated to our team and advisors, as they are an integral part in making this project happen. We’ve also reserved another 10% for referral tokens — those tokens earned from signing up, surveys, etc. These tokens are those that have a 2 year restriction on them. The reason for this is simple — to prevent a ‘pump and dump’ situation. All this means is that referral tokens can be used on our platforms only for the first 2 years. After this period however, all coins can be freely traded for any fiat/cryptocurrencies.

5) Where do you see the value of your token in the medium to long term and the ultimate benefit for the token holders?

Looking at a few other exchanges such as Huobi, Kucoin and Binance, all their coins have increased in value. For example, the Binance coin saw an increase in value of over 22,660% in just six months. Nauticus Coin will be the preferred medium of exchange across our exchange, payments and eCommerce solutions.

6) Thinking about the future, what are your plans after ending the ICO? Are you afraid that the volatility of the cryptocurrency market might affect the economy of your project in any way?

No more than it already has — the price of Bitcoin is clearly affecting how much money we are raising as NTS is pegged to the price of BTC. However, we have already surpassed our soft cap, which means the exchange is going ahead.

About the author

Jaymin Shah

Jaymin Shah is a tech entrepreneur. He is the Founder & CEO of TechOptimals. He has made a name for himself in the tech media world as a writer relentlessly covering Technology, in addition to a broad range of startups. Contact Jaymin at jaymin@techoptimals.com

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