Elas’s Brendan Lee and Mohammad Jaber are bringing something new to the table. Called Signavera, the new service describes itself as a federated productivity suite that combines collaborative multi-signature technology with an array of tools to manage business affairs on bitcoin.
Speaking to Kurt Wuckert Jr. on this week’s CoinGeek Weekly Livestream, Brendan explains that their customers will be able to access a private ledger with permissioned access on the Bitcoin public ledger.
“It’s sort of like a like a little gated community where only the people who’ve been given access can get in and do anything,” he notes.
The Elas duo built a hybrid Metanet protocol which they use to create tokens and its functionalities. As Brendan explains, the protocol allows for satoshis to be brought into the ledger giving it the ability to be tied back to the parent, whereas previously, satoshis would have to be spent in a particular way to create a link.
“[The metanet protocol] is just a really elegant way of being able to create that private ledger and tie everything together,” he says.
Brendan was keen to point out the differences between the internet and the metanet. He stressed several ways a model can be attacked on the internet, saying a user can be vulnerable to an attack once a user enters a website and is directed to a server. Since the metanet uses a public server, users can access the data through numerous portals. For his part, “the attack surface for people trying to take that information off line is vast.”
Kurt chimes in on the metanet discussion and asks why developers haven’t adopted the technology. Brendan shares his thoughts while emphasizing on the protocol’s immaturity, adding it would take more time for it to fully develop.
“I think we’re going to go from everything on the internet to the metanet in about five years, because the metanet doesn’t need any new infrastructure other than what we already have,” he notes.
Aside from the technical aspect they provide, the team comes up with a business development plan for their customers. As Mo explains, they customize a solution based on the requirements of the customer.
“It’s about pointing out that what the pain points are and then seeing how using this technology is going to have an added benefit to our clients and their end users,” he says.
The company’s recent project is a prototype NFT custom made for a Satoshi Block Dojo client in London.
“We turned that around in about two and a half weeks,” Brendan says. He describes their experience working on the project, saying, “that’s the nature of developing on Bitcoin, if you’ve got your own systems to use it correctly set up, your infrastructure set up cost is zero, you’re effectively just having to customize a very thin wrapper on the top of it and you’re away, that’s it, it’s such an amazing tool.”
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Also watch: CoinGeek New York panel, A Better Internet Experience using Blockchain
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