Companies worldwide are eager to integrate the latest blockchain technology into their businesses but need help with several challenges including incorrect information and a lack of knowledge about the subject matter, says Brendan Lee, Founder of Elas.
Elas aims to boost businesses by offering a solution to users where they leverage the power of the blockchain without needing to acquire, hold or use the BSV blockchain token (BSV).
The company offers end-to-end platform development and provides a fully managed service for new platforms. This is combined with the power of BSV – the most scalable, cheapest and most efficient protocol available.
Misinformation and education about blockchain
‘I think the challenge businesses face when trying to transition to the blockchain is just the absolute plethora of misinformation out there. There is so much about what a blockchain is that is incorrect. I don’t blame many of these people for taking the position that it’s just a non-starter,’ said Lee.
He added that BSV companies could get around this by educating people about the value of BSV and helping businesses understand the difference between existing legacy systems and blockchain. This includes focusing on the unique benefits of blockchain such as handling data which cannot be copied or removed.
‘I think the difficulty is that they’ve never heard it expressed like that. They’ve only ever heard that blockchain is an investment product. I sometimes hear we can solve all of these big problems but then (receive) very fluffy explanations of how that’s meant to happen. (There) is a distinct lack of any real solutions going into real-world businesses.’
You don’t need to know everything about blockchain
While Lee encouraged businesses to continue educating themselves about the benefits of blockchain, he noted that companies don’t need to have a complete working knowledge of the technology to integrate it. This is where Elas comes in.
‘In terms of the nitty gritty and the in-depth protocol, like how we are doing things, they don’t need to know any of that. Customers don’t need to buy BSV (tokens) and they don’t need to hold BSV. Any BSV that is required for the project is provided by us as part of the infrastructure. Think of it like dropping off a pallet of bricks, and we take those bricks to build a house, and they then use the house.’
BSV is the only suitable blockchain protocol
Lee said that BSV is the only suitable protocol for his line of work because of its scaling capabilities and security.
‘I could go to any other blockchain in the world, but I will always be hamstrung in the future because I will not be able to keep up with even mild organic growth. If one of our platforms becomes successful.
‘So I choose BSV because I know that when my customers become very successful, it is dependable enough and will not let them down. One of the things that we see fairly consistently out there is that these unscalable blockchains do tend to let people down by failing and by being hacked. Whereas on BSV really, you know, we just see continual improvement in performance, better throughput, better functionality.’
Lee added that the BSV protocol is fixed, so developers and businesses know they will not need to change anything or have their hard work undone.
‘Nobody is ever going to come in and make a change to the protocol for some arbitrary reason and break all my stuff. I see that happening across many other blockchains, and I see a lot of human capital being wasted on projects.’
Signavera and multi-party signatures
To highlight the power of the BSV protocol, Lee pointed to Elas’ Signavera tool. The Signavera suite combines a powerful multi-signature wallet with an array of business tools, including joint multi-signature accounts, accountant-friendly export for reporting, secure intra-domain messaging and more.
With Signavera, enterprises have access to several all-new blockchain-based features, including:
- A non-custodial means for professionals to manage multiple multi-signature accounts with a simple co-signing process and seamless experience.
- Account funds that can be stored, shared and distributed securely across multiple parties.
- Payments that can be proposed and approved with account-specific signing threshold and real-time notifications.
- The freedom of exporting these transactions in accountant-ready format anytime to simplify tax and reporting.
- A wallet that is designed to be token-ready and compatible.
- A monetised solution that invisibly charges tiny payments for actions performed within the platform, freeing users from the typical month-to-month based subscription services in favour of full micropayment capabilities.
- Elas has a robust pipeline of additional features on their roadmap for Signavera that include email to Paymail cross-transfer.