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Tech Due Diligence for Private Equity & Venture Capital - Analysis of Code, People, and Processes

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Our unique approach

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We at BitFlow developed a unique approach to conducting Technical Due Diligence. We provide added value by delivering important insights not only for investors or M&A consultancies but also for the potential portfolio company itself.

By pointing out strengths and weaknesses as well as giving an estimate on how to mitigate those risks and at what cost, we help our clients get a clear understanding of the technical aspects of a target company. Additionally, when a target becomes a portfolio company, we continuously increase their value by consulting on how to tackle the technical issues we identify.

As a long-term partner for our clients, we support them from when they consider making an investment to the next funding round and the final exit.
bitflow value creation

Our areas of expertise

General system architecture and DevOps
Artificial intelligence / Machine learning
Blockchain
and Bitcoin
Robotics
Security / Crypto
Internet of things

FAQs

What is the aim of a Technical Due Diligence?

Generally speaking, the aim of a technical due diligence is to help investors get a clear picture of the technical side of a company they want to invest in. It points out both strengths and weaknesses of the technical side of a target company.

Why is it important to understand the technical side of a target company?

The digital transformation clearly points out the importance of a company’s underlying technology. As quickly as companies raise because of technological advantages and efficient IT-based processes, so quickly others fall behind. Taking a company's technology, the responsible team and the used processes into account nowadays is necessary to get the correct valuation of a target company.

How long does a technical due diligence take?

We at BitFlow developed a unique approach which delivers quick results. After approximately three days, our clients get our basic report highlighting critical areas that require additional attention. In a second step, we further investigate those critical areas what – depending on the concrete project – takes another 6 – 12 days.

How do you get the insights?

In order to get the necessary information, we combine both qualitative and quantitative aspects with our technical due diligence. On the qualitative side, we conduct interviews with key people; such as CTOs and CIOs, do product walkthroughs, check the system architecture and code quality, examine the underlying processes, and compare the company’s vision and growth plan with the product road map and the employee’s skill sets. On the quantitative side, we evaluate different metrics and key performance indicators, such as the proportions of code written by one person, which helps to identify key person risks.

What does your report look like?

Depending on our clients’ specific requirements, they receive either slide-based reports, formulated reports, or both. No matter the format, our reports are distinguished by clear statements and are easy to understand, even if you don’t have a technical background.

How much is a Technical Due Diligence?

The development of a report depends on the number of critical areas identified in the basis report, some of which may not be relevant to the client’s strategy (e.g. merger or rollup). This is why after we create the basis report, the client receives a detailed overview of what areas need to be investigated and how much time this will take. The client can select or deselect certain areas depending on their strategy. As we charge according to daily rates, the full price of a technical due diligence is clearly stated after the basis report is created.

Ready to upgrade
your Tech Due Diligence?

Learn more about our team, our experience, and our services. Get in touch today.

Blockchains and cryptography.
More than one use case.

The Cryptar protocol supports data anchoring, data linking, and data revocation. Each transaction can be protected with one or multiple signatures. With this multiple use cases can be addressed.

Advanced Timestamping

The Cryptar protocol allows for timestamping in ways that weren't possible using the 'normal' Proof of Existence. With Cryptar, timestamps can be linked together, which allows for the creation of trail of records. Users can then refer to these records and track things like data changes over time. The signature mechanism, which is similar to that of Bitcoin, allows for the person or department who initializes changes to be recorded. These records can also be reviewed years later if needed.

Identity Management

Managing digital identites, like DIDs specified by W3C, is tricky as identities not only need to be issued by an authority, but they also need to be maintained over very long time period. The Cryptar protocol supports not only the registration of new identites but also the update and revocation of identites that are already existing - all without hosting a centralized revocation list like what is currently required for certificate authorities issuing SSL certificates.
Smart contract

Smart Contracts

Smart contracts, mainly known from the Etherium network, are used to manipulate a (global) state and store this new state as proof on the Etherium network. Cryptar allows for smart contract execution, utilizing IPFS with replication nodes as data storage. The smart contract code is stored at the time of Blockchain creation, while each exaction of the smart contract is recorded by linking the new state utilizing the Cryptar protocol.

Advanced Timestamping

The Cryptar protocol allows for timestamping in ways that weren't possible using the 'normal' Proof of Existence. With Cryptar, timestamps can be linked together, which allows for the creation of trail of records. Users can then refer to these records and track things like data changes over time. The signature mechanism, which is similar to that of Bitcoin, allows for the person or department who initializes changes to be recorded. These records can also be reviewed years later if needed.

Identity Management

Managing digital identities, like DIDs specified not only need to be issued by authority, but they also need to be maintained over a very long time period. The Cryptar protocol supports not only the registration of new identities but also the update and revocation of identities that are already existing - all without hosting a centralized revocation list like what is currently required for certificate authorities issuing SSL certificates.
Smart contract

Smart Contracts

Smart contracts, mainlt known from the Etherium network, are used to manipulate a (global) state and store this new state as proof on the Ethereum network. Cryptar allows for smart contract execution, utilizing IPFS with replication nodes as data storage. The smart contract code is stored at the time of Blockchain creation, while each exaction of the smart contract is recorded by linking the new state utilizing the Cryptar protocol.
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Trusted by courts.

Backed by math.

The Cryptar protocol is intended as a service solution utilizing Bitcoin as the blockchain rather than creating yet another token or blockchain.

All Cryptar protocol executions are signed with one (or more) private keys that you – and only you – have access to. After the signatures are applied the data will be anchored to the Bitcoin blockchain. With this you created an temper resistant proof.

Those proofs are also valid in court in most of the jurisdictions (US, EU (EU-qualified timestamping), Japan, Brazil, UK, Dubai, …) as direct evidence in court. In other cases an expert testimonial will make them valid in court.

Trusted by courts. 

Backed by math.

cryptar protocol execution
The Cryptar protocol is intended as a service solution utilizing Bitcoin as the blockchain rather than creating yet another token or blockchain.

All Cryptar protocol executions are signed with one (or more) private keys that you – and only you – have access to. After the signatures are applied the data will be anchored to the Bitcoin blockchain. With this you created an temper resistant proof.

Those proofs are also valid in court in most of the jurisdictions (US, EU (EU-qualified timestamping), Japan, Brazil, UK, Dubai, …) as direct evidence in court. In other cases an expert testimonial will make them valid in court.

Free Timestamping. 

Forever.

Free Timestamping. 

Forever.

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Free Timestamping. 

Forever.

You can test the Cryptar anchoring feature (aka as timestamping) for free. Simply drag and drop a file in the file section and we will anchor your hash to the Bitcoin blockchain. You will receive the anchoring proof within 6-8 hours. The data of this file will be private only to you (we receive only the SHA256 digest). Don’t trust us, verify the source code or use our API endpoint for free SHA256 anchoring.

If you want to do more cool stuff like linking existing timestamps or revoke them check out our use cases here.

We help provide the necessary clarity for all parties involved.


Request a meeting

Don't trust.
Verify.

Ask our happy clients
Development of software for pipeline stress test with automated verification of all test results on the Bitcoin blockchain. Test results are temper proof now.
Validating university diplomas, work experience and after submitting the documents to the Blockchain will store them for ever and let users access and proof the validaty anytime.
Understanding Bitcoin is difficult. Thats why we support Bitcoin1x1 and give lectures to graps the technical insights of Bitcoin.
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