ConsenSys is forming a blockchain-based coalition to provide infrastructure to the United Nations Sustainable Development Goals (SDGs), and Everex will be working right alongside the blockchain software company.

In order to help realize the global objectives in the SDG program, ConsenSys formed the Blockchain for Social Impact Coalition (BSIC). Everex has partnered with the BSIC coalition to affect positive change.We will also be competing in the BSIC hackathon between September 7th, 2017 and October 7th, 2017.

What is the common issue?

Exorbitant money transfer and exchange costs, and remittance fees as high as 25%, lead to global fees of $200 billion annually. That’s $100 for every one of the 2 billion financially underserved individuals worldwide.

What are our common goals?

Improving infrastructure and making services cheaper, faster, and easier to use are core facets of improving quality of life for people on a global scale.

Everex, the BSIC, the United Nations, and other NGOs and government organizations alike are directing resources towards resolving global financial inclusion, leading the way towards eliminating poverty with mobile technology, internet availability, financial inclusion through international payment networks, and access to basic necessities made available through industrial improvements.

Blockchain technology is augmenting interactions and international payments by making the underlying processes cheaper and more efficient. BSIC is seeking other aspects of global involvement that blockchain can disrupt for a positive on the global economy.

How are Everex and BSIC working together to resolve the issues?

In order to bridge the divide, Everex is striving to provide affordable and easy-to-use financial services for people around the world. Mobile technology, machine learning, and blockchain technology form the base for the Everex platform to transform even lending, which has traditionally been plagued by high fees and strict risk requirements.

The BSIC is hosting a month long remote hackathon, in addition to several other in-person events, to both raise awareness of the issues at hand and help resolve them. Pooling some of the world’s greatest minds has long been a successful approach to the world’s problems, and the BSIC is working to do just that.

As Jean-Baptiste Decorzent, our Financial Inclusion Advisor said, “The best way forward is to partner with other startups in this space and advance beyond proofs of concept.”

Everex is tapping into the power of disruptive technology in order to make the processes surrounding money and its exchange simpler and more efficient. Machine learning and mobile technology enable fast and accurate risk evaluation, while the availability of mobile devices and security of blockchain make financial services cheaper and more efficient.

Our participation in the BSIC hackathon will consist of ideation and testing of financial inclusion solutions to meet SDG goals:

1 (No Poverty)

8 (Decent Work and Economic Growth)

9 (Industry, Innovation, and Infrastructure)

And more

Who else is involved in the objective?

Other participants in the BSIC include ALICE, MIT Solve, EduDAO, slavefreetrade, World Wildlife Fund, and more than 16 others. Applications for the BSIC are still open and can be sent in via this link. Alongside the BSIC, the United Nations, and many governments around the world have taken a role in improving the quality of life for their citizens, as well as the citizens of the globe.

Financial inclusion is a huge part of the equation when attempting to resolve the issues which result in poverty and lower standards of living. Everex is working to improve the financial systems which form the base for global financial exchange and money transfer services.

Everex and the BSIC seek a sustainable and equal world in which individuals can afford to support their families and beyond.