The Everest Story (so far…)

EverestDotOrg
Dec 16, 2020 · 5 min read

Chapter 1 — Principles & Architecture

Image for post
Image for post
Photo by Jukan Tateisi on Unsplash

Introduction

Estonia led the way for digitizing a society…..the government did it by digitizing users’ identities for the banks, and then layering on financial services, followed by governance, health, schooling, etc. India followed suit a decade or so later with Aadhaar + India Stack, digitizing all identities and financial transactions. And although both significantly increased their economic output, they relied on central databases and control mechanisms. Imagine if we could take that blueprint to the blockchain, and give users control! Everest did that.

Without the fundamental elements of all human interaction (value exchange) crypto and blockchain communities will not be able to grow their economies. A comprehensive system with all the fundamental elements, not just a permissionless ledger & token, must be developed. The attributes of that system, like all economies, require the following:

  • Identity (EverID): a multi-faceted (unique, human, ability to associate in groups, verified for regulated services, etc.), homogenized identity creation + verification service. Without the ability to tie a wallet address to an individual “real person” with attributes, meaningful commerce and the value of crypto and blockchain, (especially regulated services), will be fundamentally limited.

Everest solved all of these issues, and built a platform to bring a global community into the 21st century.

Similar to a bank or nation-state like Estonia and India, Everest’s platform is anchored on verifiable identity (user-controlled, and pseudo-anonymous for legal transactions), and layered on infrastructure with accounts, transactions, programmable stablecoin, license to operate globally, and a set of APIs to interact with traditional, legacy systems (i.e. banking systems).

Image for post
Image for post

And like most nation-states, Everest is starting with financial services suite of applications. A user-centric, global “bank” or credit union that brings the billions in mass markets into crypto and blockchain. That is, we integrate ALL the requirements in the existing stack.

Image for post
Image for post

The Everest platform consists of the following six modules:

  1. Gateway Module: enables FI partners to quickly and seamlessly integrate Everest with their own legacy financial platforms via lightweight, secure and inexpensive APIs.

Registration by an agent, when the user has no device, can be seen here: ttps://youtu.be/EcuV_qpPZp0. Authentication and transaction of eMoney over the ledger can be seen here: https://youtu.be/ti_UBUOjXHc. When using fingerprints or palm-prints, Everest accommodates countries where burkas are prevalent.

Recognition:

Image for post
Image for post
  • Visa Everywhere Initiative — Semi-finalist in two categories 2020

Partners:

Image for post

Recent Press:

About Everest — Updates and News

News, Updates and Information about Everest

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store