Yachting is the industry which had gradually transformed from being a strictly-for-privileged type of recreation into a booming industry, the products and services of which are becoming more accessible to the representatives of the upper-middle class.
Nevertheless, the yachting and charter sector is still experiencing a lot of growth pains which consist in the sub-par booking systems and boat representation, the impossibility of choosing the skipper and the crew on most booking portals, the lack of information about the available mooring sites and marina, and so on.
There are a plethora of projects which make significant efforts in addressing those problems, but none of them have tried to seek help from the blockchain technology. None except Yachtico, a charter agency which is a subsidiary of Blackbird Group Ltd., a company based in Belize, which specializes in the provision of yacht renting and the accompanying services. Yachtico developed a unique marketplace that runs on the Waves blockchain and constitutes a key element of the charter ecosystem that connects all participants in the yachting business with dedicated customers.
Yachtco has adopted a goal of unifying the entire yacht charter industry on a single platform that will serve for the benefit of both providers and renters. By leveraging the blockchain technology, the project plans to introduce this particular sector to the game-changing payment gateway that ensures swift and low-fee transactions. The use of smart contracts will improve the management environment and afford a chance of getting a significantly improved yacht booking experience for customers.
Yachtico is a three-component ecosystem that serves as a meeting point for company’s target customers as well as yacht owners and builders, charter and booking agencies, insurance companies, and marina owners.
The first component is the platform itself which is subdivided into the following four elements:
The distribution, which regulates the B2B and B2C transactions that take place between the renters, fleet operators, mooring providers, and different websites that entered into a partnership agreement with Yachtco.
The administrative branch is responsible for the formation of pricing policies, maintenance of CMR and CMS systems, preparation of reports, and initiation of marketing campaigns.
The inventory element was designed to organize and coordinate the operations of all service providers, such as charter agencies, yacht builders, marina providers, etc.
The final element involves reservations and payment gateways, namely the Yachtico Waves DEX credit card, along with the well-defined booking and invoicing systems.
Apart from being the marketplace for the luxurious recreational water vessels, Yachtco also carries out the function of a platform where yacht owners can tokenize this particular asset. This process stipulates the use of different security tokens (not specifically the Yatchco native tokens) issued after the yacht owner exercises the tokenization option. The amount issued of tokens will always be relevant to the actual price of a vessel. The tokenized yachts are to be put to charter whilst the owners are entitled to receiving regular dividends.
Yachtco is the utility tokens that interlinks all parts of the ecosystem and provides access to exclusive offers. The token holders are to be divided into five categories: from Silver to VIP, depending on the amount of tokens stored in their digital wallets. Each category provides for special perks.
The project is currently at the stage of pre-ITO, having allocated 700 million tokens for sale. The price of 1 Yachtco is 1 euro. The minimum purchase limit is set at 500 euro. There are no restrictions with regard to participation in this pre-ITO.
|Start||August 4, 2019|
|End||February 4, 2020|
|103 days left|
|Hard cap||$22 000 000|
|Minimum investment||500 EUR|
|Tokens for sale||700000000|
|Accepting||ETH, BTC, WAVES, EUR, USD|
Does the Yachtco team really think that they would be capable of bringing some order to the field (yacht freighting) that had been so disorganized before? Blockchain is not a magic pill that would make everything work like a Swiss watch. In this case, it is merely a tool for streamlining the large flow of data, not a remedy that would make the entire industry click. Looks like people at Yachtco will go no further than creating an ecosystem made of the partnering companies.
The idea presented by Yachtco makes total sense, especially for those who are actively engaged in this field. It is always preferable to have a unified and diligently structured ecosystem, whether it is a yacht chartering or a business one. Although I am convinced that this project could have been well off without blockchain at its foundation. I mean that Yachtco would have done great even without the hassle of creating a token economy and integrating blockchain.
I agree that yachting, as a recreational activity, will become more affordable, so an increasing number of people will require chartering services and such. Therefore, should the things in the yachting business remain as they are today, it would create a lot of confusion, dissatisfaction, and ultimately hamper the development of this type of entrepreneurial activity. So, I think that Yachtco is looking ahead of things by trying to unify this mostly dispersed system into one functioning blockchain ecosystem. At this stage, this project might not attract the crowds of investors, but as things progress, they will get more traction and funding.
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