BitCAD is finally out with the dates for their crowdsale following the delays caused by the last minute issues that cropped up with the decentralized biometric identification system. The crowdsale will now commence on May 25th.
The project retains its focus on creating a perfect business environment based on blockchain technology. As the recently launched BitCAD whitepaper details, the platform strives to establish a multifaceted smart platform where business processes like legal actions or accountancy could be perfectly automated and replicated when necessary.
Another major area of interest for the project is biometric identification. Focused both on businesses and individuals, it seeks to provide a secure way to efficiently identify people without compromising their privacy in any way.
There will be three biometric identification technologies on the offer. Facial recognition for simplest cases of biometric authentication, hand veins recognition for the instances demanding that personal data is stored and processed. And a SecureCall technology to ensure additional protection of data during authorization. It will also allow for one to sign documents via unique frequency of dual-tone multi-frequency signaling (DTMF). The latter technology is being lobbied with the legislators and can be perused here.
The platform has also managed to create a device for hand veins recognition and fine-tuned its operation, which includes work with the back of the hand; stabilized facial recognition with an in-house web component; and completed the IR filter for laptops, and assembled the first unique test specimen, over the period of delay.
BitCAD will act as a unified platform that may maintain accountancy, taxes, customs fees, and customer and partner database while applying consensus mechanism in decision-making.
The electronic arbitration system will deal with accelerating dispute settlement with robotic arbitration, independent human arbitration and an ombudsman institution. A unified digital legal prose will be used that can be understood by both computers and humans in order to go solve any dispute in any preferable jurisdiction.
Of all the BitCAD tokens issued, only 51% will be issued to be be sold via the crowd sale. The funds raised will be utilized in project’s operations for the next four years. The unsold tokens will be later sold to institutional investors for higher price than during the crowdsale.
Founders, early backers and the development team will be liable to receive twenty percent of the BitCAD tokens. Of which, 8% will be assigned to early backers and investors, and the remaining 12% to the development team.
27% of all tokens will be used to fund business development, academic research, and market expansion. While, the remaining 2% are reserved for post-ICO bounty programs.