Privacy and anonymity are common topics in cryptocurrency — but not everyone wants that. In the world of NGOs and humanitarian assistance programs, knowing exactly who you’re transacting with is vital from both a trust and regulatory standpoint. That’s where platforms like Everest come in. Bitsonline‘s George Levy spoke to Brad Witteman at Money 20/20 2018 in Las Vegas to find out how and why.
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Everest and the ’20 Percent’ Who Need to Play a Larger Economic Role
Witteman gives the example of NGOs (non-governmental organizations), who need to both receive contributions and distribute them to people who receive their services. At the same time, the recipients themselves need ways to play a larger part in the economy to grow their own wealth.
“We view our platform as bringing the frontier world from the 8th century directly to the 21st century,” Witteman says. “We’re skipping over everything in between — we’re giving people a durable identity, the capability of transacting within the digital economy, and beyond that the ability of growing their portion of the GDP from around 20 percent to something much much greater.”
What does he mean by that? He’s talking of a simpler, long-distant time when people did business only with people they knew and trusted — but in a world where people also need to transact with organizations and individuals far away. How do you accomplish that when participants don’t always have access to the necessary technology?
How Does Everest Work?
Everest.org is a transactions platform with identity systems built in. Witteman explains that it starts with biometrics and creates unique and transportable profiles — even when “end users” don’t have devices.
How does work? Watch the full interview to find out how the various players, both organizations and individuals, all fit together.
What’s your take on blockchain identity platforms, and does Everest solve this problem? Tell us what you think.
Images and video via George Levy, Bitsonline
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