‘Signavera’ from Elas places all Bitcoin activities into suite for professional users

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Blockchain-based software engineering company Elas says its new productivity suite will give businesses a complete set of tools to manage secure communications and Bitcoin functionality. “Signavera” includes multiple multi-signature accounts, fund and token wallets, easy signing and makes accounting easier by exporting records in a recognizable format.

Signavera is designed to be hosted on the user’s own domain, using Paymail aliases to control and manage its features.

It also has an interesting subscription model that takes advantage of BSV’s micro-/nano-transaction capabilities. Rather than pay monthly fees, users are instead charged tiny amounts for using certain features in the suite.

We are proud to announce the launch of Signavera, a federated productivity suite that combines collaborative multi-signature technology with an array of tools to manage your business affairs on Bitcoin.https://t.co/ynSPWy3jJG pic.twitter.com/udP3bNwVkD

— Elas (@elas_co) September 8, 2021

Speaking to CoinGeek, Elas CEO Brendan Lee said Signavera “makes full use of all of Bitcoin’s superpowers, including super strong encryption, and novel multisignature scripts for control of funds.”

“We think people will love using it—we do.”

The company is looking for businesses to participate in a pilot program for the suite. Ideally these would be projects that already manage multiple Bitcoin transactions per day and are looking for greater and easier controls over management of their funds.

‘Federated productivity suite’ for professionals

Elas describes Signavera as a “federated productivity suite” for professionals that can manage all their business affairs. At launch, users will have the ability to set up accounts with up to 10 parties co-signing funds, and built-in instant messaging within their domain.

Signavera has non-custodial wallets (meaning all assets are stored locally, rather than on Elas servers). Its multi-sig wallets have a simple co-signing process, and account funds can be stored, shared and distributed securely between multiple parties. It’s all designed to be a seamless experience, aimed not just at businesses familiar with Bitcoin, but even those who may have no previous experience with blockchain technology.

Payments can be proposed and approved with account-specific signing thresholds, and real-time notifications. The wallet is designed to be ready for tokens and will be able to handle any new tokens issued using Elas’ protocol.

Elas also said it has “a robust pipeline of additional features” on its Signavera roadmap. This will include email to Paymail crossover inboxes (linking users’ “Bitcoin inbox” with their traditional email), secure file storage and management, nested accounting with visibility and oversight, and accounts that can be shared between organizations. The firm promised that all Signavera users will gain access to this additional functionality as it becomes available.

Signavera is an example of the type of functionality that can only exist on the BSV blockchain. Though it’s designed for businesses with any level of transaction throughput, it’s BSV that makes it able to handle large volumes of payments, transfers and tokens of varying functionalities—as well as the micropayment subscription model.

Other blockchains, whether they have token and contract capabilities or not, would eventually struggle to deal with the speed and volumes necessary for something like the Signatura suite to work. BSV has unbounded scaling capacity, keeping it fast, and there’s no danger of network fees suddenly increasing to the point of unusability. Paymail and secure messaging capabilities, along with real-time notifications, make it a useful toolset for any business that wants to take advantage of the digital/blockchain economy—and keep safe records of everything.

Watch: CoinGeek Zurich panel, Blockchain as a Service (BaaS): Easy Infrastructure for Enterprise-Grade BSV Applications