Partnership Will Facilitate Creation of New Distributed Apps On Top Of The Everest Platform

SAN DIEGO, Oct. 10, 2018 (GLOBE NEWSWIRE) -- Everest, a biometry-based, value transfer company, and 1000 Alternatives, a leader in social impact development, today announced a new partnership created to accelerate blockchain innovation and spur economic development in Kenya, Nigeria and Rwanda, with the goal of extending that progress throughout Africa. The partnership will utilize 1000 Alternatives’ incubators in each country to train entrepreneurs to build distributed applications (“DApps”) on top of the Everest platform.

Development of DApps on top of the Everest platform will create jobs, reduce the costs of doing business and grant greater economic access to millions of individuals previously lacking access to these connective technologies. The Everest-enabled DApps will have a variety of applications, including micro-banking with built-in know your customer (“KYC”) / anti-money laundering (“AML”) and value storage; healthcare services with native document storage and sharing; and app-based mortgage lending with native KYC, document storage and messaging.

“We are thrilled to partner with Everest, which is focused on the use of blockchain technology for social good,” said Athman Ali, CEO of 1000 Alternatives. “We see a lot of opportunity in the use of blockchains to reduce middle-men costs and we are excited about having access to the Everest platform to empower our entrepreneurs to build modern distributed applications.”

“Our partnership with 1000 Alternatives enables entrepreneurs across Africa to leverage the distributed foundation and powerful technology stack of the Everest platform, creating new and innovative applications and quickly bringing them to market,” said Bob Reid, CEO and co-founder of Everest. “We are excited about this new partnership and look forward to seeing entrepreneurs leverage these existing, proven technologies to develop and deliver unique DApps.”

Everest, founded in 2016, is a leader in biometric identification, digital wallet and distributed ledger (blockchain) technologies, offering an integrated suite of tools to deliver a full eBanking platform. The Everest platform provides many of the atomic tools required to develop DApps, including EverID, a biometrically based digital identity; EverWallet, a multi-currency and document storage solution; and EverChain, a high-speed distributed ledger. The Everest protocol and application programming interface (“API”) enable many functional services to be built using the same primitives used to make EverID and EverWallet.

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1000 Alternatives was founded in 2018 with locations rolling out in Singapore, Kenya, Rwanda and Nigeria, and incubates, invests in and scales profitable lock-step ventures that deliver positive social impact through their products and services.

About 1000 Alternatives1000 Alternatives is a social impact enterprise that invests in lock-step ventures in Africa and Asia focusing on innovations that solve societal problems in education, health, job creation and housing. 1000 Alternatives provides incubation and investment services and helps social enterprises to scale up for profit in order to guarantee the social impact achieved. Please see www.alternatives.world for further information.

About Everest Everest is an economic and value transfer platform, anchored in biometric identity, which is the world’s only device-free, globally accessible, self-sovereign digital wallet and payment solution. By leveraging blockchain and distributed storage technologies, Everest empowers banks, governments, NGOs, hospitals, businesses and other institutions to transparently and effectively exchange value with those hard to reach users, especially the 5 billion users without smartphones, all while giving users the most control and privacy in the market. App developers leverage Everest’s platform for services like remittances, micro-finance, micro-insurance, payroll, cash transfer, KYC/AML, land, medical records, etc. For more information, visit www.everest.org .

Media Contact CSG John Stavinga jstavinga@wearecsg.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3fbf7475-5a50-4b4e-a3b4-8faa09e77758