BoatPilot is a vendor of hardware navigation solution and a developer of the platform that combines navigation, booking, and advertising services for the private and charter yachting.
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BoatPilot is the first, free integrated marine navigation service with augmentedreality capabilities for private and commercial yachting markets.
PRECISE NAVIGATION INFORMATION
BoatPilot allows yachtsmen to easily track marine routes and access the most relevant information on coastal objects; including charts, navigation signs, reference data, maritime laws and regulations in a specific region. The cloud-based infrastructure allows BoatPilot users to add and update the existing database and generate relevant content, which is checked and supported by other members in the yachting community. This structure leads to creating the most complete and precise navigation information database in the world. In addition to general information about coastal objects and services, BoatPilot also includes professional comments, photos, and sketches.
AUGMENTED REALITY FUNCTION
BoatPilot supports an augmented reality (AR) function, which allows the skipper to use AR glasses to see all necessary data incorporated into actual surroundings and avoid distractions by the traditional dash. This feature is especially useful during poor visibility conditions, or at night.
FREE TO USERS
BoatPilot is completely free to all end users. Unlike most existing marine navigation systems on the market, our product is uniquely developed for private yachtsmen and small yachting businesses. It is not an updated, or reworked, version of military or large commercial navigation systems.
BoatPilot is more than just a marine navigation tool, although navigation is definitely its main feature. BoatPilot is a marketplace that provides businesses of any size – from large brands to small seaside restaurants – effective and convenient access to the international yachting market, which is estimated to reach $74.7 billion by 20221. Best of all, BoatPilot advertising works even when the user has no internet access.
BoatPilot is essentially Google Maps and TripAdvisor in one program, with no other product like it in the world.
BoatPilot is not an abstract concept. It is an existing and functioning product. By late 2017, the service was released on Android.
How does BoatPilot work?
BoatPilot consists of three components — hardware and software:
- BoatPilot navigation
- Pocket Skipper service app
- BoatGod hardware module developed to collect data from onboard systems
BoatPilot combines navigation functions, while Pocket Skipper supports all additional services, such as brokerage (listing vessels for sale or rent, based on specific parameters), marina rental, sailing companion search and tour proposals, and other capabilities discussed in greater detail later in this report.
While BoatPilot and Pocket Skipper are the software components, BoatGod is the hardware side of the project. This module connects directly to the onboard system of any vessel, collects marine data, and transfers it via Wi-Fi. BoatGod enables precise collection of data, which is then used to update marine navigation charts.
BoatPilot is based on unique software components described in detail below. Each component will function as part of our system and can be used as a ready-made solution by other marine navigation manufacturers and marine chart aggregators.
- Vector geo-navigation information optimization module can be used on mobile devices with limited computing capabilities and storage space. The module can be used within a cluster.
- High-load cloud server platform for collaborative work on gridding, with arbitrary data structure and geo-data ranking and indexing functions.
- Cloud server platform for real-time collection and visualization of main marine indicators (coordinates, speeds, and routes) of vessels equipped with geo-location GPS and GLONASS devices, as well as a server for storing and cloud-synchronizing this data. devices with limited computing capabilities and storage space. The module can be used within a cluster. indicators (coordinates, speeds, and routes) of vessels equipped with geo-location GPS and GLONASS devices, as well as a server for storing and cloud-synchronizing this data.
- Innovative wireless hardware module BoatGod for iOS and Android platforms designed to work with the vessel's onboard systems based on the NMEA standard, which allows receiving information from all of the vessel's devices and, if necessary, controlling them. BoatGod is also capable of aggregating geo-information from various systems, like the vessel's sonar, to compile updated charts.
- Augmented reality navigation system, which allows the skipper to avoid distractions of the dash, as well as receive tips on waterways, trajectory, danger signs, radio-channels, etc. This is especially important while navigating at night or in bad weather conditions. designed to work with the vessel's onboard systems based on the NMEA standard, which allows receiving information from all of the vessel's devices and, if necessary, controlling them. BoatGod is also capable of aggregating geo-information from various systems, like the vessel's sonar, to compile updated charts. distractions of the dash, as well as receive tips on waterways, trajectory, danger signs, radio-channels, etc. This is especially important while navigating at night or in bad weather conditions.
Using NAVY tokens and Token Economics
Marine charts need to be updated most frequently and are the basis of our project. BoatPilot updates all current charts utilizing the geo-data that is sent by those users who have the BoatGod module installed on their vessels.
All of the updated geo-data is stored in a special intermediary storage called the Geo-Pool. We will use NAVY tokens to reward all people who send us their geo-data – the more data users send us, the more tokens they will receive. To understand clearly, you can think about it as NAVY token mining – you sail around the world collecting geo-data, and get rewarded with NAVY. This is a win-win situation – the project constantly receives updated navigation data, yachtsmen-miners get our tokens, while all other users get access to most up to date navigation information. The size of the NAVY rewards will be determined dynamically and published on our sites: www.boatpilot.me and www.boatpilot.io.
Our team has allocated a special NAVY fund to start the geo-data mining program (Project Ecosystem – 1.5% of the entire emission). This will be enough to start with, but we anticipate that the reserve will be spent quite fast. After the fund is depleted, we will start the second stage of the program – buying out NAVY tokens from exchanges.
The project architecture is set up in such a way that we will not be able to use the geo-data received from users until we send them the tokens they deserve. Since data is the key and most valuable part of the project, we are highly interested in being able to use the geo-data collected by our users. This is why we will continue to buy out the tokens – only this way can we reward BoatPilot community for its data.
The more actively the tokens are used within the project, the greater is the potential for NAVY rate growth. BoatPilot has a very simple growth model: We commit to invest 10% to 15% of all BoatPilot marketing profits to buy out NAVY tokens from cryptocurrency exchanges. A part of the bought out tokens (25%) will be burned, while the other part will be used within the project ecosystem and to reward NAVI miners for their geo-data.
This means that a) we will buy out tokens from exchanges in proportion to the company’s growth; b) we will sign more contracts with charter companies that install BoatGod on their vessels, and cover more regions in order to get more mined geo-data, in return raising the number of NAVY bought out from exchanges. This will ensure the constant demand for our token and raise its price.
Additionally, we will burn between a quarter and a third of bought out tokens in order to lower the circulating volume of NAVY tokens, raising the demand and NAVY market price.
3rd quarter of 2019
- Release of Pocket Skipper for the Americas on App Store and Google Play
- Update European regional charts with detailed depth information
- Release BoatPilot boxed version
4th quarter of 2019
- Develop alpha-version of AR supported BoatPilot
- Begin licensed sales to third parties for BoatPilot chart usage
1st quarter of 2020
- Release charts for the Asia Pacific region
2nd quarter of 2020
- Open a physical office location and form a sales department in Asia Pacific
3rd quarter of 2020
- Release of Pocket Skipper for Asia Pacific on App Store and Google Play
4th quarter of 2020
- Release final version of AR supported BoatPilot
- Update regional charts with detailed depth information for the Americas
2nd-4th quarters of 2021
- Possible BoatPilot Initial Public Offering