About Everest (ID)
Everest (ID) is a next generation blockchain + fintech platform bringing the mass-market of users and traditional financial institutions into the decentralized finance (DeFi), crypto + fiat future. The meteoric rise of DeFi pushed over USD $14 billion into stablecoins in 2020, and over $24 billion into swapping in September 2020 alone — only to see networks get overwhelmed with transactions taking 24 hours or more to process, and cost $5–200/transaction¹. And with wallet addresses cresting over 100 million users, the demand is parabolic.
Similarly, the first generation of fintech saw companies like Coinbase, Revolut, Monzo, N26, Chime, Transfe rwise, and others offer new digital financial services to grab market share from the slower, traditional financial institutions (FIs) — and garner multi-billion-dollar valuations in the process. Everest represents the next generation of blockchain + fintech infrastructure platform, combining the best of both worlds.
Cloud Fintech platform providing a regulatory compliance and value transfer toolkit which solves a variety of identity, value transfer, audit, reporting and agent management challenges.
Everest (ID) Storage Key Points
|Circulating Supply||116,700,000.00 ID|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Official Project Website||Click Here To Visit Website|
Blockchains like Ethereum, where 96% of DeFi is currently transacting, were not designed to handle the speed, cost, regulatory, UX and reach requirements needed to go mass market with DeFi or run a “real economy”. The fragmentation on a technical, regulatory and regional basis is solvable by Everest to create a true mass market.
Layer one protocol suppliers like Ethereum can’t process transactions quickly or cost-effectively. According to Vitalik, “The L1 is nearly unusable for many classes of applications, and there’s no non-L2 path that can get us to scalability in the short-to-medium term”, and that is likely for years to come. In September 2020, we witnessed networks get overwhelmed with transactions taking 24 hours or more to process, and cost $5–200/transaction¹. An L2 solution, be it a rollup, optimism or plasma is required.
And despite all the hype and transactions, few are taking regulations seriously — “56% of them (exchanges) did not follow KYC guidelines at all despite anti-money laundering (AML) regulations. The highest number of such exchanges are in Europe — a region renowned for stricter regulations. However, 60% of European Virtual Asset Service Providers have deficient KYC practices……21 decentralized exchanges, DEXs, found that a whopping 81% had weak, or no, know-your-customer (KYC) practices…..didn’t think DeFi would escape regulations for long.²” Even initiatives like Stellar and Ripple only perform inter-bank settlement (they rely on custodians to handle the regulatory issues, KYC/AML users, and don’t offer access to multiple services).
The DeFi protocol developers can’t do custodianship, verify identities, or do fiat-in themselves. Akin to BitTorrent, inventor of p2p transfer protocol, which was legally able to produce and market a protocol, yet unable to legally distribute content or transfer value, DeFi requires an entity (Everest fills this role) that will (a) comply with legal + regulatory rules, and (b) on-board the hundreds of millions of users who are clamoring for the benefits of DeFi.
UX and REACH:
Consumers demand a seamless mobile experience to manage their money where they want, when they want, and into whatever investment or account they want. Consumers are demanding and moving to financial platforms that meet their demands of user-centricity, mobility and connectivity.
They want to easily move money and crypto between savings, checking, investment and other accounts, without the hassle of mapping wallets, converting four types of crypto currencies to be potentially rewarded with a fifth reward token. The cannot expect users to understand TCP/IP, managing their own server farms or program hard-drive backups.
Simply put, consumers want to easily and for-free (not charged 2–5% as many fiat on-ramp providers do) transfer from their bank account into something that earns them more yield. And Many consumers simply want to hand cash to an agent (yes, over 80% of the world still runs on cash; and yes, even industrialized economies like EU are over 65% on cash).
The Solution: Everest’s Global “Banking Platform”
Everest combines secure, mass-market biometrics and encryption technologies to facilitate identity creation/verification, account creation, and transaction tracking and validation. With any smartphone, a user or Financial Institution can capture a myriad of biometrics (e.g. face, palm, finger) and create an account — Everest accomplishes this in minutes and for pennies per customer, compared to days and tens of dollars as necessitated by traditional financial institutions (FIs).
The patent-pending “datagram” of attaching biometrics to an ERC20 wallet with associated distributed storage for authentication and authorization, promotes true agency for end-users; that is, no one can open users’ accounts except the user themselves. And with the combination of storage of tokenized money and docs with a blockchain, users’ can granularly share attestations, attributes, digitized monies, etc. at their leisure. Further, by being a regulated custodian with the ability to issue its own Stablecoin, and leveraging an incredibly scalable ledger (300,000 transactions per second; considered a “rollup” to Ethereum mainnet), Everest is positioned to bring DeFi into the mass market.
Everest is a decentralized platform with a massively scalable payment solution, EverChain, with a multi-currency wallet, EverWallet, a native biometric identity system, EverID, a value tracking token, the CRDT, all integrated to existing infrastructure with an easy to deploy software appliance, The Everest API Gateway. Everest delivers a complete solution for a new economy.
Global Financial Services Platform
Identity, Crypto, DeFi, Fiat, Tokenized Stocks. Everything!
Convert Licensed and regulated custodian and service provider
Pay and receive money from anywhere globally via its connected banking and financial network
P2P, Peer to Merchant, B2B, and Government to Person
Personal or Business, any currency, Crypto or Fiat
Digital eVoucher system to issue and process payments
Store and Share documents, physical cards and records
Military-Grade Security and Privacy, including biometrics
EverID: Decentralized Identity Platform
EverID gives a person the ability to record, update, store, and share identity information without the need to own technology or have a network connection. The steward of the identity information in EverID is the Identity Network Foundation, a non-profit decentralized autonomous organization (DAO) dedicated to ensure the global identity creation and verification network is secure and available for all of humanity.
How Everest Removes Barriers
Everest is the world’s only device-free globally accessible, digital transaction protocol with built-in identity. Through the use of digital identities, electronic wallets, document management, and biometrics, users will be able to digitally verify their identity for public services and claim their social and economic rights.
Device-free identity verification
Peer-to-peer registration using biometric data allows anyone, anywhere to enroll in the platform, without the need for a device.
Seamless Value Transfer
By verifying identity with 100% accuracy EverID reduces leakage, fraud, friction, verification, and data access costs.
Total Financial Inclusion
Creating global access to existing financial services unlocks the $20 trillion-dollar economy of emerging markets.
EverID enable users to be in total control of their data and provides access to formal economic systems.
Reduced transfer and data storage fees will allow institutional growth in emerging nations.
Deviceless identity verification will empower over 4 billion people and create a $40 trillion