Everex has already brought several products to production, and in its next phase plans to revolutionize lending, remittance and payments. By leveraging Ethereum technology, Everex minimizes cost and trust, while maximizing transaction speed.
Since development started in 2015, Everex has introduced Chainy, Ethplorer and Everex Wallet, while also holding the Everex Fiat Remittance Pilot, which saw Everex technologies tested and proven in a real world setting. With Everex products, users can trade tokens on the Ethereum Network, monitor ether-based capital, provide proof-of-existence on the blockchain with exciting plans for the near future.
Everex Fiat Remittance Pilot
100 migrant workers successfully sent money home to Myanmar from Thailand in 2016 using Everex’s Cryptocash, which are digitized fiat currencies. The average transaction, which took less than one minute on average, netted participants in the Pilot over 7% in remittances costs and currency exchange rates.
Chainy (https://chainy.info/)
Chainy’s irreplaceable blockchains URLS (‘aeon links’), permanent proof-of-existence for documents, and a public text message service solves the problem of hackers and malware operators phishing with malware-infected links.
By making it impossible to replace short URLs, Chainy saves real link address destinations on the Ethereum blockchain with an immutable and unique short code so internet users can be confident the links they follow have not been altered. Short links are often used by scammers to phish money, but Chainy’s real address destinations can’t be changed by anyone.
Ethplorer (https://ethplorer.io/)
This token explorer allows for the monitoring of blockchain transactions, as well as auditing tools to calculate transaction costs and more. By allowing entities to follow ERC20 token issuance, professionals can keep abreast of Ethereum tokens with Ethplorer, a technology used today in projects like blockchain betting platform, vDice. Other projects using Ethplorer include MyEtherWallet, Chronobank.io, Everex Wallet, Coinbooks, CHAINY, vDICE, CoinTracking and COINIGY.
Token sales have spurred a widespread migration into blockchain technology, and Ethplorer positions Everex to take advantage of this burgeoning industry by making data available immediately after a token hits the market, allowing industry players to track tokens and even trade them with the Everex Wallet.
Everex Wallet (https://everex.cash/)
A multi-currency wallet designed to be user friendly, the Everex Wallet is available on mobile and browser for the transferring of any custom digital asset via the Ethereum blockchain.
The Everex Wallet is currently available in Thailand and Myanmar, with more countries coming soon. This Everex technology is also a leader in the ERC20 token space as one of the first user friendly and secure wallets available on the market.
Credit and Capital Transfer System
The Everex Credit and Capital Transfer System (CCTS), an open financial framework based on shared wallet architecture and fiat-pegged national currency smart contracts, could enable any financial or non-financial entities (bank, exchange, CU, retailer, telecom provider) to issue fiat currency backed tokens (Cryptocash) supported by their own capital or financial guarantee.
CCTS-issued Cryptocash tokens (explained below) have been designed to enable transparent, fast and secure P2P transactions over a public blockchain allowing payments, currency exchange, currency trading, lending and other financial services. As a mechanism to collect and analyze the personal financial and non-financial data from transaction records and mobile phones to calculate the credit score of Everex members, the CCTS could lay the groundwork for a future financial system designed to serve those previously financially underserved.
Cryptocash
Cryptocash could potentially be traded via the Everex Wallet, third-party applications and exchanges. Once approved by a lender, borrowers take out loans in a digitized version of a fiat currency of their choice and then pay it back in any currency of their choice. Users then send their earnings electronically and near-instantaneously across any border.
The Ethereum public ledger allows Everex Members to develop a public history, enabling Everex to calculate fitting loan rates for particular entities – financial institutions and money changers – in the system. Fiat currencies in Cryptocash trade under a similar ticker as the fiat currency symbol; for instance, ‘USDEX’.
EVX
As Everex’s native Membership token, EVX would be necessary to use and incentivize certain features, such as credit and collateral, so people can build a credit score and complete financial transactions, like sending payments or receiving loans via Cryptocash. EVX allows Members to handle payment processing services at 0%, while serving a bustling community of customers, merchant, lenders and borrowers in the Everex ecosystem. Alongside machine learning capabilities based on big data mining, EVX helps accrue the data necessary to provide accurate advice to Everex Member-Lenders and contract terms.
Key Strategic Relationships
Everex’s in-production suite has lent the company to numerous strategic partnerships, including with professional micro-lender, Micro Money, and China’s multinational Holley Group. Everex is currently participating in Bangkok Bank’s InnoHub, a financial technology incubator.
The startup received backing from global online investment platform, BnkToTheFuture, and was even recognized at the United Nations in New York City by the Remittance Technology Awards for “Service Originality.”
