Soft spot in the digital revolution: Dubai-based startup Stonses launches platform that enables users to preserve memories of loved ones

DUBAI, UAE- (ACN Newswire) - Earlier this year, Microsoft patented conversational AI technology that can preserve personas of the deceased through chatbots, in an effort that appeals to the softer side of human beings. Stonses, a Dubai-based startup, has similarly launched a blockchain-powered platform, one that will enable users to preserve memories of their loved ones in a digital format. Stonses' platform, which enables its users to create unique digital identities of real-world objects, is based on Verofax's blockchain-powered asset management and NFT platform.

In today's digital era, memories associated with people exist in the physical as well as the digital world. Pictures may contain real-world objects that hold emotional significance, while many people associate key events' with objects like physical locations, family videos, wedding gifts, or even household items, which can carry priceless memories of a person we were close to. However, these memories may be scattered on phones and across locations, some are lost and others are discarded, while memories associated with them are also lost. Stonses aims to bring a permanence to those memories, through digital replicas of real-world objects linked to NFTs created by family friends and colleagues.

To make this happen, Stonses' memorial platform leverages NFT technology with QR codes as Physical interactions, which the user can attach to any object that reminds them of their loved ones. A digital replica of the object is then built, and a unique identity is assigned to the object. This data is loaded onto an immutable blockchain, which enables the user to preserve the object and its associated memories forever. The user, however, retains complete control over the data, and decides which is made public and what remains private, defining who has the right to create memories and who has only read access. By scanning the QR tag that connects the object to its digital replica, the user can instantly bring it, and the memories associated with that object, back to life. Thus, the QR tag serves as the bridge between a person's memories and objects associated with them, for sharing with the public, amongst close family or a friends network securely, with Blockchain.

Stonses' memorial platform is built on top of Verofax's immutable blockchain application, which brings decentralized trust and verifiability to digital objects. The QR code is a unique identifier that represents the digital object. As smartphone penetration levels go higher each year, such nimble technologies carry the potential for mainstream adoption. The shift from hardcopies to digital copies of images, books, and music is a clear signal that points to the appeal of digital objects over physical ones.

Chief executive officer of Stonses, Miha Balek says "The personalized gifts industry is expected to reach $43.3 bn by 2027 while objects are increasingly associated with people who own, use, or gift them. Digital and physical objects make up digital tokens, protected by Blockchain technology. Stonses' memorial platform is the first to help people preserve and exchange their personal belongings across generations with technology. Expect other functionalities to include treasured assets to be transferred, with ownership based on smart contracts."

Wassim Merheby, CEO of Verofax, adds "When an object is replicated or digitally combined with certified content, its replica is called a digital twin or non-fungible Token. The first NFT project was launched in 2015 on the Ethereum blockchain, but today assets and belongings can be tokenized digitally by making use of blockchain technology, which helps establish ownership and identity and seamless conditional transfer among user wallets.

Verofax's blockchain-based asset management platform, which shoulders Stonses' memorial platform, is also being leveraged for other use-cases across industries. For example, retailers are using Verofax's solution to render digital identities to their products along with information around their origin, composition, and environmental sustainability.

The ability to interface stakeholders securely and enable easy asset transfer and content access opens up new possibilities for organizations like Stonses, which is leveraging the direct-to-consumer interface to consolidate memories and assets of significance value. Stonses business model adds value to our personal lives, value that goes beyond the realm of monetary measures and efficiencies to that of meaningfulness."

Please visit Stonses at www.stonses.com, or contact info@stonses.com for more details.

For technical matters visit Verofax at www.verofax.com, or contact through info@verofax.com

About Stonses
We are the first and only memorial platform for the global market. The future is fast approaching, and a new era of digital innovation and disruption is here. At Gitex, we presented the most innovative digital identity solution this year, which will soon cover the entire population. We proudly announce launching our solution at Burj Khalifa, Dubai on December 21. Prepare to lift off as the Stonses Revolution arrives! https://youtu.be/VKPDR2IthUc

About Verofax
Verofax is a blockchain-enabled, Asset Digitization and Traceability solution provider with a presence across North America, Europe, Asia and MEA. Verofax's solution is available across multiple cloud environments, and is helping businesses transform physical products to digitally-enabled goods, and enable meaningful interactions with customized user interfaces. https://youtu.be/YRhh04hkaTY

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.