Encrypted smart platform BitCAD

BitCAD – is a multipurpose smart platform based on the Ethereum blockchain. BitCAD users create reliable, trustworthy relationships between counterparties, thereby levelling out distrust, unreliability and unpredictability of business partners.

Platform’s mission lies in providing a venue for seamless integration of business and computer technology. BitCAD will help users to automate routine business processes, find business opportunities globally and locally, make instant value transactions and resolve disputes in a trustless environment.

Thanks to blockchain technology BitCAD eliminates financial and legal intermediaries and enables users to form more agile supply chains through smart contracts that automatically find, negotiate with and close deals with partners the world over.

How BitCAD can change modern business-processes:
• Smart contracts: It would take the form of a computer program that runs on the blockchain and is executed by the entire blockchain network. Its program code — the terms and conditions of the contract — cannot be changed, and thus provides the trust that used to require elaborate control and audit processes.
Not only can blockchain contracts contain the same level of detail as a physical contract, they can do something no conventional contract can: perform tasks such as negotiating prices and monitoring inventory levels. This, again, replaces expensive, manual effort with automated, dynamic tracking of supply chains, inventory levels and prices to reduce costs and maximize profits. BitCAD can transform the vision of an “any-to-any” marketplace into reality.

• Smart equipment and products: Consider, for example, a smart vending machine that registers itself on a platform and tracks its own inventory and cash position. The machine will not only issue a replenishment order when it needs restocking, but can find the needed products at the best price, and order and pay for them without manual effort or the involvement of its owner.

The advantages of BitCAD:
• Low barriers to entry for users to conduct the transaction.
• The “reputation” of participants performance on past smart contracts will help the highest performing users to demand premiums.
• Smart equipment can replace human contracting parties for certain transactions, as in our example of the vending machine.
• Devices on the IoT can communicate with smart contracts to keep track of the status and state of smart contracts for settlements. Smart shipping containers could, for example, automatically sell their surplus capacity.
• Faster settlements using cryptocurrencies.

Capabilities of BitCAD:

• Audit trails: reflection of the successive actions for each subject in BitCAD provides undeniable evidence for the movement of goods and opens up new opportunities for "Live Price".
• Real-time negotiation: smart contracts continuously query all other nodes on different platforms for the best pricing, delivery times, and other terms and conditions.
• Supply chain visibility and traceability: via production records, for example, one can trace whether defective goods were made.
• Tapping data from IoT: easily tracked and authenticated data from IoT gives business more and better data about their products, enabling them to improve quality.
• IP management in product development: makes it easier and less expensive to securely share
intellectual property.