Many of these shipwrecks happened during the Spanish colonial trade epoch in the Spanish West Indies and to through the Old Bahamas Channel. The channel is located between Cuba and the Bahamas, both of which used to be Spanish colonies, so there was a lot of naval activity there.
This made heavy loads of gold, silver and jewels be lost in the channels and, up until now, be considered lost forever. The company was inspired by the idea of salvaging artifacts to give them back to the Bahamas.
What Is PO8?
PO8, a Bahamian blockchain startup company has announced today that it was teaming up with Claudio Bonifacio, a historical shipwreck expert whose work is renowned around the whole world. He will advise the company on the development of a marine archaeology blockchain. Bonifacio’s mission on the company will be to map sites of shipwrecks within the waters that belong to the Bahamas.
PO8 is focused on developing solutions for marine exploration and its main tool is the blockchain-based MADS. The company was created to let people invest in salvage costs without having to make extensive investments, which normally create a high entry barrier in this field.
The company has also developed other products like the Historical Open Auction Platform (HOAP) that will be used to decentralize the way that auctions of goods found are sold and the Government Artifact Auction System (GAAS) that serves as a secure escrow service to be used for governments around the world and non-profit organizations like museums. This way, they can trade artifacts on a decentralized platform.
The Maritime Artifact Data System (MADS)
Claudio Bonifacio, which has more than 30 years of career and has made many searching expeditions, will be the main asset of PO8 to implement its Maritime Artifact Data System (MADS). MADS will be a decentralized application that will tokenize the recovery of the lost artifacts and enable token holders to profit from their help in the expeditions.
Along with buying PO8 tokens to finance the project, users will be rewarded with PO8 tokens by completing tasks that can help in the project. These tasks range from helping to pinpoint locations, analyzing data as historical records, sonars, weather patterns, geo-mapping, etc.
Bonifacio believes that by using blockchain, the startup might indeed be creating what could be considered a “gift to humanity” that will help years of historical research to come to fruition. He also believes that there is over a billion USD worth of gold, silver and other cultural artifacts in the bottom of the sea, what will certainly attract investors to the project.
He also says that he is glad to be a part of the positive change that the blockchain technology is bringing to society and that it is an achievement to share these artifacts with the world. The CEO of PO8, Matthew Arnett, agrees. He states that Bonifacio understands the importance of the blockchain and of this project to the people of the Bahamas.
About Claudio Bonifacio
Claudio Bonifacio was born in Trieste, Italy, on March 8, 1947. He has a long career as both a historian and an archaeologist. He worked for more than 30 years in the Archive of the Indies based on Seville, Spain and has documented more than 3,000 shipwrecks.
He’s also made extensive research not only on shipwrecks, but also on treasures buried by the Spanish, Jesuits, Templars and other dynasties.
PO8 Blockchain Marine Archaeology Coin ICO Details
PO8 is having a private sale at the moment in which you can buy its tokens. A public sale will happen some months from now. The exploration of the Bahamian sea will probably begin around 2019.
- Token Symbol: PO8
- Token Sale Starts: 07/01/18
- Token Sale Ends: 07/30/18
- Token Price: $0.008
- Total Supply: 10B
- Token Standard: ERC20 compatible
- Soft Cap: $10M
- Hard Cap: $30.3M