Nauticus and co-founder Bryan Ng aim to give back through blockchain platform
In early May 2018, Nauticus announced it had raised over $16 million through its ongoing initial coin offering. The amount was staggering and it made news on a number of websites that devote themselves to cryptocurrency. One of the most surprising aspects of Nauticus’s ICO performance has been the company’s ability to raise so much capital in spite of the current downturn in cryptocurrencies. The sheer volume of the funds raised shows just how many investors want the company’s ideas to come to light.
Nauticus has only been around for a year, but in that time, CEO and co-founder Bryan Ng has seen his startup become one of the most talked about digital currency platforms on the Internet. So, what is Nauticus?
What is Nauticus?
Ng and co-founder Jonathan Chang created Nauticus as a blockchain and digital currency startup. The Australian-based company wants to encourage others to adopt digital currencies and the blockchain, while educating them at the same time.
The company’s platform will initially allow users to exchange 100 different cryptocurrencies. Users can buy bitcoin and change it to another supported currency through Ng and Chang’s startup. The big difference in Nauticus and other exchanges is that it will also incorporate fiat currencies. The team hopes by the end of Nauticus’ first year, it will support 300 digital currencies and 16 fiat currencies. Simply put, Ng and Chang’s creation could change the face of blockchain and cryptocurrencies.
Unlike other exchanges that have become victims of government crackdowns due to new regulations controlling them, Nauticus is completely approved by the Australian government. Which gives Nauticus a step up on its competitors.
Bryan Ng: From CPA to blockchain
Co-founder Ng started his professional career in 2001 as an accountant. Born in Malaysia, Ng moved to Australia as a teenager and found his opportunities in education to exceed the ones he previously experienced.
“[I] Started working in my parent’s market stall selling fruit at just six,” Ng explains. “That’s where I learnt about running a business, dealing with customers and negotiating on price.”
After arriving in Australia, Ng found himself greatly interested in IT along with accounting. It would be two fields he would work in during his earlier career. Now years later, Ng has married the two, along with his Nauticus co-founder Chang, as the duo created their blockchain startup.
“He’s [Chang] incredibly switched on and we spent a lot of late nights, early on, thinking about the possibilities of blockchain and cryptocurrencies,” Ng said about his business partner. “We formed a partnership a year ago and are determined to seize this chance to help shape the future. Unlike many ICOs, we’re not just dreamers – we really do have the business skills to do it right.”
In 2009, Ng started his own accounting firm called First Accounting. What started out as a business run out of his home, Ng has turned it into a company with locations across Melbourne, Australia. His work ethic and pragmatic approach to running a business has helped turn First Accounting into a business he never dreamed it would be after that first year.
“My mother always taught me to work as hard as you can, to work as smart as you can, and to always try to do the right thing by people,” Ng explains. “I walked around the neighborhood to drop off 1,000 brochures to advertise. That first year, I brought in just $10,000 and it was an incredibly difficult journey to keep going and build to the point where we now have multiple offices and advise many small and medium size enterprises. If it wasn’t for the lessons my mum taught me, I wouldn’t be where I am today.”
While running First Accounting, Ng met his co-founder Chang. The two hit it off and have combined their skills to create Nauticus. In May, the company had already signed up more than 350,000 users to the platform.
Bryan Ng: Ethical global bank and ecommerce
Nauticus hopes to lead the charge in ethical global banking and ecommerce. The company is working on green blockchain mining to help build communities.
Moreover, many blockchain opponents and proponents have expressed worry over the amount of energy used in the creation of cryptocurrencies. Nauticus offers a platform for exchanges that uses renewable energy and cheaper transaction fees due to the reduced cost of energy.
“I’ve always felt luckier than most, and because I grew up in a developing country, I knew I wanted to give back the moment I could,” Ng said. “I began sponsoring children when I was at university and I’ve now sponsored a dozen children through the Salvation Army. We recently announced a referrals program for the Nauticus ICO that allows for up to 41 percent of the team’s coins to be donated to child sponsorship or The Ocean Clean Up, and we’ll be using our green blockchain mine to help a developing community with employment, education and infrastructure.”
Ng’s desire to give back has made Nauticus a company far different that its blockchain contemporaries. Not only does the accountant turned blockchain whizz want to build a transparent platform for users, but he wants to help build a better world for those in it. Ng hopes he will be able to use the blockchain to help people in developing countries.
The Nauticus co-founder has come a long way since moving to Australia at the age of 16. Now, 22 years on, Ng has the chance to change the world through both his blockchain platform and his willingness to give to others.