BSV Blockchain for Enterprise
Case Study - Elas Digital
Creating bespoke solutions connecting businesses to the world’s most scalable blockchain
Elas Digital creates the token protocols and applications that businesses need to migrate onto a blockchain infrastructure. We spoke to Elas Digital’s founder, Brendan Lee about how their business is using the BSV blockchain as foundation for their projects.
Their service is focussed on building whatever tools customers need to use the blockchain, without having to understand anything about blockchain technology themselves. In a government context, they could replace the printing presses that make the coins and print the banknotes.
Elas Digital helped one of their customers, Amleh Gold, to tokenise gold so you can track back through the history of a token until you see where it was created. You can look at the minting record, which contains a signature, and see that the parent transaction of that node is the Amleh ledger node. That way you can tell without a doubt that you’re dealing with a legitimate token.
What does the blockchain integration process look like for a business that makes use of Elas Digital’s services?
Lee explains that integration would be quite different for each customer: ‘It would depend on what they’re trying to achieve, and what aspect of their business they’re trying to bring onto the public ledger.’
Elas Digital designs customer solutions to match the service their customer would like to provide.
‘For a large company that delivers several different services, there might be several different things that we need to build. To use the example of our project with the national government of Tuvalu, we’ve proposed creating a single Metanet ledger, the Tuvalu National Digital Ledger.’ Within that ledger, there will be at least half a dozen separate independent projects that each does something quite different. Elas Digital will design each one almost completely separately based on its own intent.’
They started the project off with one of the simplest components – a citizenship application process. There are a lot of people who have Tuvaluan heritage but are not citizens. Tuvalu wants to start offering them the ability to become citizens.
‘What we do is to take the existing process, which is paperwork heavy and takes around three months, and cut it down to less than a week. The goal is to complete the process in two or three days,’ Lee says.
To make this possible, Elas is building an application to pull in all the required documents and data and attach it to a token.
Another aspect of Tuvalu’s national administration that could be placed on a blockchain infrastructure is their fishing licensing. The Tuvaluan government generates a lot of revenue through selling licences to fish in their waters. Pacific island nations employ a process where they sell the right to fish on particular days. Boats can bid for the right to fish on a particular day in a specific zone. ‘It would be very easy to streamline this process on blockchain so the auction happens through the BSV blockchain and the licences are issued on-chain,’ Lee explains.
What does Elas Digital’s future product roadmap look like in terms of blockchain integration projects?
Elas Digital is building out the systems required to take entire government systems like laws and codify them on-chain with a Metanet structure. Lee sees it as a way to radically improve the efficiency of government and make it more transparent.
‘We’ll also be able to turn it from a representative democracy into a direct democracy where all citizens participate in decision-making, not just in electing a representative. This would be a giant leap towards the true intent of democracy.’