A unified operating system for various business activities on blockchain is something every company would like to have. If it can be quickly deployed like conventional Software as a Service (SaaS) solutions currently available in the market, then such a solution will reduce the barrier to adoption of distributed ledger technology in organizations, both big and small. BitCAD is one such platform which is on its way to make it a reality.
BitCAD calls itself a multipurpose smart platform that can be seamlessly integrated into existing business and information technology infrastructure. Based on Ethereum blockchain, the platform makes it possible for companies to automate their business processes while eliminating the need for financial and legal intermediaries. By doing so, BitCAD not only saves a considerable amount of time and resources which would otherwise go wasted on repetitive labor intensive processes.
The smart contracts implemented on BitCAD ensures compliance with existing regulatory frameworks and builds a decentralized trust network that creates a much more reliable working relationship between counterparties. The distributed nature of the BitCAD network ensures data integrity, strict binding contractual relationships between the parties involved that can’t be broken without considerable consequences. In addition, the platform also includes dispute resolution solutions with full electronic arbitration, external intermediaries, and story based arbitration in cases where there is a conflict between the parties.
In order to facilitate easy integration, the team behind BitCAD have been working on a twin-project called Tectum. The project is designed to promote a global integration of the blockchain platform through APIs. It can be used for a range of industry segments including electronic governance, banking systems, insurance, trade platforms and exchanges, CRM systems, taxation, etc.
As the company works on completing the platform with lots of feature addition, BitCAD is currently in the process of raising funds while giving an opportunity for the cryptocurrency community members and investors to be part of a revolutionary platform. BitCAD recently announced an ICO, which will go on for another 29 days. The platform has already raised more than a million dollars in under an hour of the ICO going live. Investors participating in the ICO can choose to contribute either in Bitcoin or Ethereum. Funds raised through the ICO will be utilized for further development and marketing. Those interested in being part of the crowdsale can do so by visiting the platform’s website.