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The Everest Foundation, a non-profit DEO (decentralized autonomous organization), is on its way to providing access to a wide variety of financial services to all human beings in a private and secure ecosystem.
Malta, December 2021 — A non-profit DAO (decentralized autonomous organization), the Everest Foundation (EF), has announced its 15 billion digital identities offering along with wallet ID tokens, absolutely free of cost. The Everest Foundation is building a permissionless, decentralized blockchain to empower every individual access to the “global credit union” that offers online banking, financial, and credit services at low-interest rates.
The chain empowers the advanced financial infrastructure offered by the Everest Network, which is a regulated and licensed custodian with the blockchain network for eKYC, payments, cryptocurrency, and various other financial and credit services.
The EF offers its users digital identities, free of cost, and a digital account where money can be stored along with credentials, documents, and cryptocurrencies. The registration for this account is currently available and open here. The associated wallet and the identity are designed to offer complete privacy, which means no organization or entity, including the Everest Foundation, can access the identity store of a user unilaterally.
Users may operate pseudonymously and share credentials granularly. The EF system is created around a unique de-duplicated human identity. The platform’s privacy-centric design allows users to reveal proof of zero-knowledge of particular data like their KYC status or age without disclosing personal details.
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EF does not require any special hardware, thereby allowing users to verify and create identities and wallets with just a camera that has an auto-focus feature, a good resolution of 2 megapixels minimum, and a stable internet connection.
What empowers this system is the ID tokens. Every registered user is given 0.001 IDs to gain access to this system. Several referral campaigns are on their way as well. The EF reserve already has 15 million tokens allocated to offer a preliminary 15 billion wallets and IDs to all people.
The ID tokens come with utility functions that offer the token holders multiple advantages within this system. The Everest members will soon be casting their votes on the model of Tokenomics, rewards, pricing, and burn percentage in the upcoming weeks. After this initial voting, the delegators and validators will cast their votes on governance decisions relating to the permissionless, decentralized blockchain.
The tokens are also utilized in accessing a wide range of services and products within the Everest ecosystem, including identity verification and creation, global remittances, payments, DeFi (decentralized finance) services, eKYC, minting newly non-fungible and fungible tokens, purchase of Universal Stablecoin of the Everest Network and many more. With its licensed, regulated, and secure stablecoin, the Everest network will most likely deliver an accessible ecosystem for the entire world, thereby allowing both withdrawals and transactions in Fiat currency for the highest versatility.
The model of tokenomics provides the users with additional protection against inflation since the highest supply is fixed at about 800 million—the mechanism of fee-burning witnesses a part of each transaction fee within the blockchain network eliminated from circulation. However, a certain portion of the transaction fee is entrusted to a validator, which verifies this as a bonus or reward.
According to Everest Foundation’s Jamal Khokhar, with this new tokenomics model and governance, the company would usher in an ever-inclusive future. Everyone can join this system, and the platform will empower users to take complete charge of their identities and transact globally.
About Everest Foundation
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A non-profit DAO (decentralized autonomous organization), Everest Foundation, is building a global permissionless, decentralized network and integrated ID verification and creation. The foundation is built on the Principles of Identity for the United Nations Sustainable Development Goals. One of its main objectives is to make easy and secure access to financial services and identities available to the entire world with democratic and decentralized tools.
About Everest Network
The Everest Network is a regulated and licensed cryptocurrency custodian with a speedy blockchain network. It is the first programmable global stablecoin globally, offering worldwide fiat-to-crypto and crypto-to-fiat transactions and a financial services portfolio including cryptocurrency trading with access to more than 200 currency pairs, earning, borrowing, international remittances, staking, and foreign exchange. The network’s unique digital ID is biometrics-based that empowers its users to verify their identities and share credentials, proofs digitally, and attributes to their choice of people.
