EverID: A digital identity, wallet and storage solution all in one
In almost every economic and government related transactions, the need for identity verification and validation is a must. But not every one of us have access to such. Many remained unbanked and unverified, which limits such people from accessing economic activities and development. This also limits their possible contribution to the overall economic growth.
Applications where a verifiable identity is needed includes banking, attempts to currency exchanges and remittances and gaining access to some legal documents. These are just few of the different areas where the unbanked and unverified cannot seem to benefit from.
The need for such verifiable account or identity is a vital one especially when dealing with security. As the world continues to be digitized, the need to have such increased even further for fraud and identity thieves are rampant in the digital realm. To gain access where a digital ID can be easily verified to cater every user, including the unbanked and unverified, using the Blockchain technology is what Everest aims for.
Everest is a project that aims to provide identity liberty to all. Regardless of history being an unbanked or unverified, such long days will now finally come to an end. Through Everest and all its services, people all over the world can now have a digital ID that is based on biometric information that can be easily verified, secured and applicable to many real-life applications.
By issuing a digital wallet, Everest would also like to provide an easy access to economic liberty among its community. With Everest, having a digital wallet means having access to any financial services such as insurance and money transfer and exchanges that help promotes individual economic growth and contribute to the overall economic development of the world.
In every transaction done within the platform, users are guaranteed immutable and secured transaction history. Based on Smart Contracts, personal and private information will remain accessible only to permitted entities. This increases the value of security within the Everest platform.
Everest use cases
One good area of application for the Everest solution is in the healthcare and food assistance sector. By issuing an Ever ID to the users, personnel can easily verify whether the said user have already received its needed assistance or not. They can also easily track down all necessary information through Everest’s digital ledger.
Another area is in the insurance system. By storing the biometric information of a member, an insurance company can easily assess every grant and claims and easily transfer premiums. In case of claims, if a member is verified to be ill by a doctor, the doctor can then easily verify and digitally sign the member’s information and the insurance company can track the added information right away therefore speeding up the overall process.
The value enrollment area is where Everest can also play a great role. In case of title transfers, the value of a property, for example, can be secured by ensuring that it is being named to its rightful owner. With immutable information stored in the blockchain, false claims will now be just a thing in the past.
Everest Architecture
The Everest Architecture mainly comprises of The Identity Network Foundation. The EverID, EverWallet and the EverChain. Each vital on their own for the overall success and application of the Everest solution.
The Identity Network Foundation
This is the “non-profit guardian of the Everest Platform”. Operating on its own in accordance to the Principles of Identification for Sustainable Development Goals, this area provides identity verification and value transfer to all Everest users. Its main goal is to the supervise and safeguard the performance, independence, transparency and the security of the Everest platform so that it may be able to be of service in the many years to come without any intervention of personal interest.
EverID: Decentralized Identity Platform
The EverID is the digital ID issued to users that contains all the necessary, personal and private information a person may hold. This is based on biometric information of the users to ensure that it cannot be easily tampered and will remain unique to every member. It is a decentralized identity system and solution where users have full control of how their information will be used andto whom it is accessible.
Biometric information embedded on the EverID includes fingerprint and facial features. Being unique to every individual, the use of such information increases the overall security of the platform. Through time, Everest will continuously evolve biometric technology and include them in every users’ portfolio. This includes iris, pulse, voice and DNA.
The said information above will then be securely stored in the EverID Datagram. This is being governed by smart contracts which can update and remove information of a member accordingly.
EverWallet: Supports Multiple Currencies and Document Storage
The EverWallet provides value exchange and document storage for utilizing the EverID. Every currency stored therein will remain secured through the EverID.
EverChain: Very Scalable Value Exchange Platform
The EverChain stores all transaction history such as identity verification. All information will remain immutable.
Everest aims to provide “Personal Empowerment Through Identity” by ensuring everyone can gain access to economic development and enhanced living. By issuing a digital ID that can be easily verified and is based from biometric information, it can be guaranteed that all embedded information remains true and secured.
How it works
Providing digital identification and verification solutions, a digital wallet and storage system in one platform, the team behind Everest made the overall process really simple.
When a user gained his or her own EverID with the necessary biometric information needed, this can now be officially used for transactions. Let us say Anna, a user, is planning to buy a plot of land. After going through necessary processes, all information about the said purchase and title will be stored in the EverChain through smart contracts where access to such information will only be gained through the EverID and a few others who have gained permission from Anna. This way, the plot of land will remain Anna’s property without fear of changing titles without Anna’s knowledge.
The scenario above is just one application of Everest’s solution among others. The image above shows different possible areas of application.
The ID Token
The ID Token is Everest’s is a utility token used to gain access on Everest’s solutions and applications. There is a varying level of access to the platform that is based on the amount of IDs in possession.
EverID Token Sale Details
Token: ID
Price: 1 ID = 0.09 USD
Platform: Ethereum
Hard cap: 20,000,000 USD
Country: USA
To get the latest updates on this ICO, visit their official social media pages and view their website and whitepaper.
Website: https://everest.org/
Whitepaper: https://everest.org/wp-content/uploads/2018/08/Everest_whitepaper.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=4756978.0
Twitter: https://twitter.com/everestdotorg
Facebook: https://www.facebook.com/everestdotorg/
Telegram: https://t.me/Everestdotorg
Medium: https://medium.com/@EverestDotOrg
Reddit: https://www.reddit.com/r/EverestDotOrg/
LinkedIn: https://www.linkedin.com/company/everestdotorg/
Author: Hypervira
Author Link: https://bitcointalk.org/index.php?action=profile;u=1419911