Legal forms of identifications are outdated in my opinion. Your driver’s license, your passport, your national id, your student’s card, your social insurance card, etc. are their own document stored in different data bases, sometimes duplicating unnecessary information or being inefficient and bureaucratic. Today I want to talk about a blockchain based project called Everest and how it addresses this issue presenting a solution of a more universal type of identification.
What is Everest?
Everest is a decentralized identity ecosystem that creates a universal digital identity to not only protect the users information and privacy of their data, but also record and store biometric information in a decentralized manner powered by smart contracts. The ecosystem have 3 main components: EverID, EverWallet and Everchain. Is a system in which the users can exchange information or value in the most secure, private and transparent way. Any user can store any type of information, like medical insurance documents, banking information, employer data, email, mobile phone provider, subscription services, etc.
How does it work?
The technical layer of Everst Relies on supernodes in the network. They host the data and maintain it in the IPFS protocol. The data is secured with private and public keys and a password or PIN. This infrastructure is designed to operate in the Ethereum blockchain. There’s multiple components that interact here to facilitate usage, like the DApps, the API, the smart contracts and the EverID Datagram. If you like to know more about this components I encourage you to read the white paper to fully gain understanding on this subject. https://everest.org/wp-content/uploads/2018/08/Everest_whitepaper.pdf
What are the benefits?
The project is design to give full priority to the privacy of the biometric information of its users. Also the will be complete transparency to inform and compensate the users if their information is accessed. What is more important, this system that Everest is creating aims at giving everyone the opportunity to gain full ownership of their data, and keep it that way forever. Institutions, individuals, corporations, governments and organizations all can benefit from adopting the EverID protocol.
There’s multiple use cases for an ecosystem like this. The area of healthcare can benefit much from it, reducing costs of data base administration and effectiveness in procedures as the verification process is smooth and fast. Purchasing land and managing property can become easier with a universal platform like EverID. Governments can implement a universal identification to consolidate national documents. The possibilities are endless.
Token Sale
What’s the importance of a token in the ecosystem? Well, it enables value exchange at a global scale. This could reshape over 20% of the global economy in the upcoming years. To achieve this, there’s two tokens/currencies: The ID token and the CRDT currency. The ID token helps to kinda gain access to the network and enjoy the privileges of it. You can stake ID tokens in your wallet for specific tasks like sending remittances from the platform. Now the CRDT token will be used to purchase services and application in the Everest platform. They will also be used to incentivize engagement and overall growth of the network, end users and involved parties.
The company wants to fund their development through a token sale, which unlike most token sales, the goal is to deliver stability and minimize risk for the investor. There willl multiple sale rounds with different benefits and purposes to cover infrastructure costs, engineering and customer acquisition for example.
Conclusion
Decentralized computing is shifting all industries. Biometric data is something that needs to be protected, secured and available to all users. Everest is changing the way we own our data and it’s exciting to be part of the project. If you are interested, you can visit their website https://everest.org/ , read their white paper in detail to fully understand the platform, ask questions if you have any in the Telegram group https://t.me/Everestdotorg and if you would like to participate in the bounty program you can find more information here: https://bitcointalk.org/index.php?topic=4782378.0
Engage in social media
https://twitter.com/everestdotorg
https://medium.com/@EverestDotOrg
https://www.reddit.com/r/EverestDotOrg/
Disclaimer: Keep in mind that I’m participating in the content creation bounty campaign. You can join any campaign you would like to participate here: https://bitcointalk.org/index.php?topic=4782378.0
I’m participating with my bitcointalk account - https://bitcointalk.org/index.php?action=profile;u=882182
and ETH address - 0x92D4c328EBE32B2826FfbB4aAbcD69f58Fe0a946
Therefore, I’m not giving investing advice, this article is purely educational in regard to Everest.