BitCAD has announced a token crowdsale aimed at funding the development and production of a range of blockchain-based software and hardware solutions. According to the release, the campaign is scheduled to begin on May 4, 2017 at 12:00 GMT and run through June 4, 2017, lasting one month.
Products Target Finance, Legal Workflows and Identity
The project describes itself as a cryptographic smart platform focused on modernizing business relationships through decentralized systems. Its planned software stack includes tools for managing financial processes such as accounting, CRM, asset management and online banking. BitCAD also says its system will support the creation of smart contracts for multiple use cases and incorporate a formal legal language designed to streamline operations. In the project’s model, contract terms become immutable once agreed to on the blockchain.
Another proposed component is an electronic arbitration system for both platform users and outside parties seeking dispute resolution. The release says participants would be able to choose jurisdiction, appoint judges from legal systems they consider relevant, and ensure that the contract complies with that jurisdiction’s legal standards. BitCAD positions this as a response to the complexity and cost of cross-border contract enforceability.
Token Allocation Details Released
On the identity side, the company says it is developing a decentralized biometric identification system intended to match the speed of conventional systems while reducing the risks associated with centralized storage of sensitive data.
BitCAD’s total token supply is set at 100,000,000 tokens. Of that amount, 51% is allocated to the crowdsale, 20% to the team and early backers, 27% to business specialists and academic researchers, and the remaining 2% to post-crowdsale bounties.
Founder and CEO Vladislav Mitrofanov said the company aims to eliminate the vulnerabilities and inefficiencies of older centralized financial and legal systems and build a new decentralized operating model.
The original article explicitly states that the piece is a paid press release and should be treated as promotional material. Readers considering any participation in the fundraising campaign should conduct their own due diligence and review official project disclosures carefully.