Today, without verifiable identity, many people cannot access banking in order to receive credit or value, something that prevents economic development. The inability to validate an identity also impedes access to some basic human rights, including education and healthcare.
What Is Everest?
Now, that’s where Everest steps in: it is simply a decentralized platform built for a new economy, incorporating a number of features in order to offer a full solution. It features a native biometric identity system, EverWallet, and a multi-currency wallet in order to deliver a complete solution to its users.
How EverID Token, EverChain, EverWallet And CRDT Crypto Works
Creating global access to financial services and allowing total financial inclusion enables Everest to unlock the huge economy of the emerging markets. People across the world will be empowered and have more economic opportunities.
In order to achieve its goals Everest project comprises of four components:
The Identity Network Foundation –
This is a non-profit, value transfer and stewarded identity network built for common good. It allows individuals complete control over the data they provide, meaning that the information can’t be transferred, recorded or used in any other way without the direct consent of the users.
Decentralized Identity Platform – This is a decentralized mobile application that gives users control over what they record, transfer, update or store.
This feature does not just support multiple currencies, but also document storage. It’s part of the EverID Dapp.
This is a scalable value exchange, allowing recording of all transactions into the Ethereum blockchain.
Everest Use Cases
Everest expects to revolutionize many sectors with the main idea being to allow for a scalable payment solutions. Some of its major use cases include:
- Cash Transfer: The platform intends to facilitate cash transfers between parties, validating the money sent 100% since the participants will have been biometrically verified.
- Remittance: Everest will offer an easy and cost-effective way for various banks and financial institutions to help them offer better money transfer services.
- Micro-Finance: The platform will also offer a full solution to lend money to SMEs as well as billions of people across the globe.
- Micro-Insurance: Everest will allow the collection of documents and biometrically signing contracts with or without devices.
- ID Verification: All users in Everest will be verified through third party attestations, government IDs, and biometrics
- Medical Records: The platform will enable better management of medical records, hosting the documents in device or the cloud to allow seamless tracking of healthcare.
- Land: With Everest, it will also be possible to combine titles, identities to banks and GPS coordinates in order to secure land.
The concept of Everest didn’t start recently; it started in 2016 when the company was formed. Since then it has set out some goals and objectives over the years, some of which it has already met and others planned to be achieved in the next year.
- May 2016 – Everest Concept
- June 2016 – Everest Founded
- June 2017 – Development of Proof of Concept begins
- January 2018 – Demonstrating proof of concept
- June 2018 – Publishing of white paper
- July 2018 – Testnet live (blockchain, token and ID+Wallet DApp)
- October 2018 – Everest 1.0 to go live (API, blockchain admin console, ID+Wallet DApp, token)
- December 2018 – INF (Identity Network Foundation target) completion
- March 2019 – Everest 2,0 (API integrations, multi-currency wallet)
- June 2019 – Everest 3.0 (enhancements of blockchain speed and launching smart contract infrastructure to partners)
- October 2019 – Everest 4.0 (SKD, money transfer and banking licenses available)
Everest ICO Details
Parameters Of The ICO
- Token Symbol: ID
- Token Sale Date: Aug 13, 2018 — Oct 12, 2018
- Token Price: 1 ID = 0.09 USD
- Accepted Payment Method: ETH, BTC
- Hard Cap: 20,000,000 USD
Achieving a new economy with device-free identity verification seems to be possible with Everest. By doing this, the platform will consequently reduce costs associated with data access and verification as well as fraud and leakage that’s experienced in the traditional systems. If the platform achieves peer-to-peer registration using biometric data, then it will revolutionize many industries, including banking, data storage, healthcare and education.