Dastafilez is powered by BSV Blockchain. It is an End-to-End Encrypted Dataroom with an On-Chain messaging application. This is the blockchain technology project of Monetix.
On Aug 5-6, 2022, in Bengaluru Karnataka, India, the Enterprise Utility Blockchain Summit (EUBS) was held to bring together technocrats, business leaders, developers, investors, policymakers, and thinkers curious about the future of global connectivity and the nature of 21st-century commerce. The event was sponsored by BSV Blockchain Association.
Monetix CTO, Shikher Verma took the stage at the EUBS to discuss Data Integrity and Blockchain, together with fellow speakers Mukul Verma, Co-Founder & MD at CRUBN, Shikher Verma Monetix and Dastafilez CTO, Leandro Nunes Chief Revenue Officer at nChain, Mallikarjun Karra of TIMECHAIN LABS, and on-screen Robin Kohze, Co-Founder & CEO at Vaionex Corporation. In this session, Shikher shared how Dastafilez application can be used to prove the use case of blockchain technology for both industry and government.
He emphasized that the data benefits most from these, are the legal documents. It can be proven in court that a specific document or transaction has been created from the time they were created.
"The first very obvious thing for us was that all the merger and acquisition deal has happened. There will be lots of data exchanges and both parties have to verify the other parties that whatever data they are presenting, are genuine and they cannot later change it." - Shikher Verma
He also used the company balance sheet as an example. If the department presented a financial report and after months, the report was found to be faulty. Dastafilez will have a way to support the claim that it is not the same file the department presented months ago and it can be tracked, such as the timestamp and responsible entity for the said change.
Another use case is protecting intellectual property. In Arts and Music, for example, if an artist is creating music, he can now strongly prove that a certain piece of music was created by him and not by someone else.
"I know right now, what we do are patents, but with blockchain, we could make the whole patent system much more efficient. " - Shikher Verma
Dastafilez has been live since 2020 and has a fairly large M&A deal in Europe, mainly Germany and Switzerland. In 2021, a transaction of a piece of land in Spain had a deal worth €30 Million through Dastafilez. This indicates how the application provides high security and authenticity of the transactions.
"The main use case where blockchain is actually enabling companies is to do high-risk deals and be able to verify each other's data without the risk that the file presented is false" - Shikher Verma.
Watch the full video of Enterprise Utility Blockchain Summit - India LIVE COVERAGE | Day 1