The financial world is complicated. Our financial system has developed in the past years immensely but being said that, it is not perfect. When it comes to verifying and verification, many people don't have a legal identity, no access to the banks and so on. This hampers the development of a financial side of any country. Not only that, the people who have access to these technologies, verification is still not an easy thing to do.
This problem is severe to the economic side of any country and has significant effects on it. This time we are talking about a project trying to solve this named Everest.
What is Everest
Everest is a decentralized blockchain based platform with the aim of making the verification process of every single human in this world much more easier, accessible and fast. The blockchain is having some serious effect on our world right now. The real world and the blockchain world is divided. Everest is not only making the verification easier and efficient but will also create a bridge between the real world and the digital world. This will ensure a better service, widely implementation.
When it comes to financial and economic things, there is no alternative to proper verification as failing to do so can lead to scams, improper handling, ownership problem and so on. Improper verification can prevent people from accessing insurance, lending, banking, and other economic services.
Present Condition
The current condition of the verification system is not very efficient. There are more than 7 billion million people on this planet. Among them, a statistics say, over 1.1 billion people have no legal identity, more than 1.5 billion people can't prove their identity, around 1.7 billion has no access to the banking services. More than 5 billion has no access to mobile phones which is a crucial technology for communication and understanding technology.
The upper statistics about people condition is not favorable. Especially not having a legal verification document is a huge drawback for a country. Some more problems and inefficiencies are listed below
Costly
The verification of documents of one is not cheap. Institutions like banks or government can only finish the checking of a limited number of documents in time without rising the cost or overloading. When there's a vast number of people, checking every one of them can easily get overloaded. Thus raising the cost of verification.
Timely
When it comes to verification of documents, getting overloaded is no new thing for banks, hospital or government. Verification of a document can take from 1 week to months because of the slow process.
Elements of Everest
Everest platform is built on three key component. EverID, EverWallet, and EverChain. Some details about them are below
EverID
EverID uses biometric details, users unique data, behavior, physical details such as fingerprint, facial scan and so on. EverID will store all these details in the most secure place and a place which can't be breached. By collecting this information, they can be used much more efficiently and smoothly than the traditional system. It can also help an organization find one's identity faster than the traditional way.
EverWallet
EverWallet is a digital asset wallet. It supports multiple types of currencies. One can use this to store their digital asset and keep them secured and protected from any kind of attack.
EverChain
EverChain is the system which implants the blockchain into the transaction system. With Everchain, it will be possible to transact using the blockchain technology in the most secure way. It will also make sure that the transactions are fast, smooth and efficient.
Find out more here: https://everest.org/
Everest Features
Accurate Indentification
With the help of EverID Everest is creating a universal ID. This service will be available to every single person. By doing that, they are making economical services such as lending, insurance available to everyone. This will allow the economic market to develop and increase value.
Security
EverID will allow the user and the user only to control who can see their identification details and who to share with, for how long and so on. No bank or government will have the power to this. By doing this, they are creating a privacy, security.
Investing
EverWallet allows users to store digital currency. When it comes to investing, there is always the matter of a verification. In the traditional way, it can take days to months. But with the help of EverID, one can complete their verification faster than ever and after that, with the help of EverWallet, they get the opportunity to invest in places. This is a fast, smooth, transparent and secure way.
Transaction
Translation of money in the real world sometimes is very slow and takes a lot of time. Not to mention the immense cost of the transaction. With Everchain blockchain technology, it is possible to transact with minimal cost and be able to transact faster. EverWallet and EverChain combined, one can invest without any problem at all.
Blockchain
Blockchain is one of the core features of the Everest Platform. The blockchain allows the whole platform to be decentralized. Decentralization is a powerful way to secure something. It's unreachable and secured in every way.
Automated
Most services of Everest will be automated. This will allow faster and efficient process. Comparing with the traditional way, Everest will be a lot more fast and powerful.
Find more details information here: https://everest.org/
Token
Everest will issue two kinds of token for different use. Details are below
ID Token
ID Token holds the value of a digital financial asset. This will allow individual or company to gain access to some services. For example, by staking a large number of IDs, a company can gain a tiered level of access. As for users, by staking a small number of IDs, they gain the power to send remittances or payment from the platform.
CRDT Token
CRDT is the stable currency of the Everest platform. This will allow institutions or users to purchases services on the Everest platform. CRDT will be needed to gain access to one's identity.
Roadmap
Team
ICO Details
• Token Symbol: ID
• Token Protocol: ERC20
• Total Supply: 800,000,000 ID
• Token Price: $0.09
• Soft Cap: None
• Hard Cap: $20,000,000
• Accepted Currency: ETH, BTC
Distribution
Conclusion
Everest has thought out something completely different than any other ICO ever. Their plan is to change the whole world and make a universal identification. A system like that can actually improve many things in different way. It can be said that they have much potential.
Find out more about Everest in these links
Website: https://everest.org/
Twitter: https://twitter.com/everestdotorg
Telegram: https://t.me/Everestdotorg
Whitepaper: https://everest.org/wp-content/uploads/2018/08/Everest_whitepaper.pdf
My Profile
BTT Username: Sakib0194
BTT Profile: https://bitcointalk.org/index.php?action=profile;u=1841935;sa=summary
Telegram Profile: https://t.me/Sakib0194
ETH Address: 0x8c26fD54c42B06593258b86b9D0F91CC9e5E64e5