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Russian Blockchain startup BitCAD has recently announced the launch of its encrypted smart platform and decentralized trade engine. The new, unified operating system aims to maximize businesses efficiency by integrating various business processes on a single platform.
The platform’s design focuses on benefiting a diverse array of business processes and is capable of managing currencies, digital assets, smart contracts and DAO’s. BitCAD also offers a mobile application for convenience sake. BitCAD’s month-long ICO began on May 4th, 2017.
The encrypted smart-platform channels various business processes through ‘Tectum,’ the company’s decentralized trade engine. The Tectum trade engine, employs multiple API integrations, to interface with the banking systems, insurance, trade platforms, exchanges, CRM systems, taxation, governance, and customs, through a single application for businesses on the blockchain.
BitCAD’s decentralized governance model and multi-stakeholder approach allow for community-based, consensus-driven policy making. The model’s purpose is to guarantee compliance with all business conditions without restrictions and to be available to all levels of users. It could potentially change, or even remove the need for financial intermediaries by implementing smart contracts to minimize the time and resources required for decision-making and execution processes.
The BitCAD smart-platform utilizes contract templates to enable the control of total lifecycle of ‘smart’ legal contracts, which aims to create a trustworthy and reliable relationship between two counterparties. BitCAD’s smart contracts also offer automated contract execution, dispute resolution, and arbitration services. BitCAD’s dispute resolution center uses a three-stage automated process that involves electronic and story based arbitration or an independently hired, impartial employee, to resolve problems and complaints on decisions, actions or omissions of BitCAD and the organization’s management. Issues revolving around the improper treatment of the participant communities from employees, board or representatives are also resolved by the impartial Their neutral arbitrators.
BitCAD and the Smart Oracles