In the latest episode of our Blockchain Hustlers series, we feature another Bitcoin SV superstar: Mohammad Jaber, Co-Founder of Elas, a company which creates bespoke solutions to help businesses accelerate their growth through blockchain technology.
Jaber demonstrates Elas’ Signavera suite of tools, a federated productivity suite offering businesses several first-of-its-kind capabilities. 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.
What is Signavera?
‘Signavera is one of the internal products that we built. We built it when we identified that there was a gap in the market for multi-signature wallets that used the Paymail protocol,’ said Jaber.
‘What started off as just a multi-signature wallet using Paymail soon became something a lot bigger because we realised that there are many different functions in all aspects of collaboration on the Internet that require multiple parties to be able to engage and digitally sign.
‘For example is the attestation of documentation to be able to communicate in a secure method and to be able to have video conferencing. So Signavera became a lot bigger than just a multi-signature wallet.’
Offering true multi-party support for Bitcoin wallets
‘Users will be able to benefit from a very seamless user experience using Paymail handles not only for their own addresses but for multiple party’s addresses,’ said Jaber.
‘So you can have various groups of three individuals or five individuals. And each of those groups can have its own conditions for the number of signatures required to sign.’
Jaber gave the example of a group of three friends with a shared wallet and associated payment handle. In this scenario, it would require two of the three friends to be able to send the transaction, he said.
‘This is all done very neatly and ends with a seamless experience that provides notifications on expenditures and spending. You can put limits, you can have certain conditions. At the moment this is in place for the money management aspects, but it will also be used for all other features on our roadmap that require multiple multi-party collaborations.’
Seamless Bitcoin transactions mean quicker adoption
‘Paymail makes all the activity between wallets interoperable and very seamless. So all the complexities are hidden in the background, which has been a massive step forward for wider adoption to audiences that are not necessarily tech-savvy,’ said Jaber.
‘We’ve taken it a step further with Signavera because now we have the same user experience that Paymail provides, but also allow you to have more than one party attached to that wallet, which is a world first.’
Compared to other blockchains that have public addresses or even multi-signature functions, the cost of doing that transaction will be relatively expensive due to the additional weight that is added to the scripts, and because of the code required to facilitate that transaction every time an activity takes place. This makes Signavera only possible through Bitcoin SV, said, Jaber.
Demonstration of Signavera
This episode of Blockchain Hustlers also includes a demonstration by Jaber on how Signavera works, including:
- Setting up a Signavera account for yourself and multiple members;
- Adding funds to an account and transacting with other users;
- The approval process and how signature work;
- How seamless the entire process is, and how little technological know-how is required.
A full feature-set with Signavera
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.