In the latest episode of our Blockchain Hustlers series, we feature Mohammed Jaber, Co-Founder of Elas. Jaber unpacks some of the interesting work his company is doing with Bitcoin, specifically through its new 2Way app which was designed for a client in the construction industry.
Jaber explains some of the core issues facing the construction sector right now, and how he and his team addressed this by developing a new application from scratch built on the BSV blockchain.
‘Our client, Mark, came to us after revealing the big pain that the entire construction industry was facing with being able to source heavy-duty construction material to not only complete the projects on time but to not blow out the budget of the project,’ he said.
‘The real main issue is that there are various stakeholders that are required to be able to obtain these heavy materials. And they are a very specific and very niche segment of stakeholders. So it’s very hard to be able to connect all of these different uses together.’
Jaber notes that these stakeholders would traditionally have to rely on manual handling and personal contacts. They would also have limited visibility of exactly what materials are available on the market. ‘After being able to understand where the materials are, they are then going to have to find a driver within a reasonable distance to deliver it within that week,’ he said.
Elas’ solution to inefficiencies in the construction industry
Jaber explained that Elas’ solution has allowed this process to be significantly reduced as it provides a mechanism for all of this contracting to be completed in real-time. This effectively means that large amounts of construction material can be delivered within just a day, he said.
He added that customers can keep track of inventory supply within several yards and drivers within distance all in real-time. The app also allows these different users to connect using the security provided by BSV blockchain.
‘Of course, the stuff that does not require to be public is not on the blockchain or it is encrypted or hashed – so it is private. But the reputational aspect is a big one as well because it holds all parties accountable for each step along the way,’ he said.
‘Being able to confirm that they can match that order requires a digital signature. Attesting that the order has been picked requires another digital signature and that the order has been received is another digital signature.’
Key to this is building on BSV blockchain, which acts as an immutable ledger for all parties involved. ‘It’s definitely the public single source of truth. Being able to hold all parties accountable and acting honestly because their reputation is on the line,’ Jaber said.
Demonstration of the app
This episode of Blockchain Hustlers also includes a demonstration of how the app works, including:
- How the app offers something different to each person on the supply chain;
- A walkthrough from the POV of a client looking for certain construction materials;
- The detailed tracking offered by the app;
- How the app acts as an immutable ledger for each transaction along the supply chain;
- The ability to have multiple parties sign digitally.
