The BSV blockchain outperforms traditional ledgers in several key metrics including costs, transactions per second, network availability and security – making it the perfect protocol for businesses and other enterprises looking to get ahead of their competition,
Elas aims to give businesses a further boost 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), says Mohammed Jaber, Co-Founder and Chief Operating Officer at Elas.
He noted that Elas 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 efficient protocol available.
‘The way that we describe our product is that it is a set of tools for the creation of private ledgers on the public blockchain,’ said Brendan Lee, Chief Content Creator at Bitcoin Association and Founder & CEO of Elas.
Anyone can connect to the public blockchain, privately
Using Elas, Jaber noted that any business can direct their devices to the BSV blockchain in a way that is familiar to them and their customers.
‘We are engaging with several clients at the moment in various industries, from the publishing industry for digital rights management to the verification of luxury goods, and the civil construction industry for the ordering of material using the BSV blockchain as the rail to manage the entire application,’ Jaber said.
Lee gave the example of Buzzmint, which enables brands to quickly and easily create tokens/NFTs of their digital assets to market and sell to their loyal customers.
‘The original idea was to allow the creation of curated NFTs that represented historical magazines, famous covers and things like that. The platform has evolved into more of a general-purpose NFT platform where the tokens themselves convey digital rights.’
‘We (at Elas) are looking at using it to sell complete access to digital content. And they are planning to sell a fine art painting for about £3 million.’
Only possible through the BSV blockchain
Jaber said this level of scalability and interoperability is only possible through the BSV blockchain and the decision to return to its original design as originally envisaged by Satoshi Nakamoto.
‘None of the methods that we use would apply to any other blockchain. It also wouldn’t be economically viable to push all of this information to the blockchain in a way that would entice our customers to want to move away from legacy systems and processes,’ he said.
This was echoed by Lee, who noted that while protocols like BTC and BSV share a lot in common, they don’t offer the same functionality or scaling for businesses.
‘They have the same scripting language, except the problem is that on BTC, the use of that scripting language has been so restricted by the developers who manage the platform that none of the things that we build would be deployable on BTC.
‘Even if you had infinite money to pay the ridiculous transaction fees that are required to interact with that network. The scripts that we use to create the structures on the ledger can’t be used on BTC.’
Use blockchain without having to ‘know’ blockchain
Jaber said there has never been a better time to get involved with BSV and blockchain development.
‘Obviously with the acceleration of everything going digitally, and the misconceptions and misinformation in the industry as a whole, there are massive opportunities to build. If you choose the right network to build on, that can put you in the driver’s seat whilst others are running in the wrong direction,’ he said. ‘So we are happy to help any businesses or any people that have an idea that you would like to be validated. We do provide bespoke solutions that are based on solving real-world problems. So we’ll be happy to hear from you and help you grow on this journey.’
