A core focus of Exerex is allowing individuals to achieve independence from centralized financial institutions failing to serve the needs of nearly 40% of the global population.

Several businesses have tried to tap into remittance and improve the quality of service, but most have failed to overcome the advantages traditional financial institutions have in the market. Everex is bringing its own intellectual property and in-production blockchain products to the table in order to disrupt this balance.

Everex provides applications that have been tested and grounded in the real-world where people’s money is at risk since the early days of Ethereum

Everex technologies include Chainy, Ethplorer, Cryptocash, and Everex Wallet. These products provide means of storing and sending funds on the Ethereum network, monitoring the flow of tokens between accounts, and providing proof of existence.

Transparency prevents corruption

Public blockchain networks, and tools such as Ethplorer, enable users to monitor transactions. Using auditing tools, anyone can determine the cost of their transaction, the fees they have been charged, the location of their funds, and more.

By ensuring the community monitors and is monitored to prevent malicious activity, Everex avoids the trap that some traditional lending and savings institutions fall into.

While some parties argue the immutability of smart contracts that can be edited, there are also options to format smart contracts to prevent tampering. Everex has chosen to use the ERC-20 standard because it enables them to develop an immutable cryptocurrency on top of the Ethereum Network.

Independence from centralized banking and lending institutions

Services offered by Everex rely on banks to be what they were initially designed to be: institutions of trust. Everex will use banks and other centralized financial institutions to establish trust in the Cryptocash ERC-20 standard-open-ended smart contracts, which keep Cryptocash pegged to the value of modern currencies.

In the event a bank proves to be untrustworthy, the network can instead elect to interact with other institutions. Third-party escrow and trust services are the end of involvement with traditional institutions with the exception of trading Cryptofiat for physical fiat at exchange points.

Cross-border transactions made easy

Everex Cryptocash can be exchanged for any fiat currency at an equal value. By using this digitized foreign exchange network, borrowers can also take out a loan in virtually any currency and pay it back in any other. So, for instance a loan taken out in Everex’s version of Thai Baht (THBEX) and repaid in Russian Rubles (RUBEX). Users can also send their earnings anywhere in the world electronically and near-instantaneously.

“Our technology allows doing this at minimum cost and maximum speed of transaction,” says Everex CEO Alexi Lane. “We connect industries that never were connected before, using blockchain technology.”

Transactions resolve faster

Blockchain networks are renowned for their fast transaction resolution times. Even a 1–2 hour resolution for transactions on the Bitcoin Network is faster than a large transfer through a legacy financial institution or the SWIFT Network. Everex exists on the Ethereum network, which has confirmation times below 1 minute. In general, Everex settles transactions in Cryptocash smart contracts after one network confirmation.

Auditable networks help strengthen trust and transparency

How do these facets come together to create a robust and secure product that the 2-billion unbanked and underbanked can use in their daily lives?

Auditability and transparency enable unbanked and underbanked individuals to build a history of credit on the blockchain. Blockchain technology also enables lenders to see how much capital is floating around and monitor targeted areas of operation or specific business niches.

Blockchain technology ensures that records are kept accurate, unchangeable, and transactions are resolved in an expedient manner. By placing cross-border remittance and lending on the Ethereum blockchain, and creating Cryptocash for use in daily life, Everex offers financial inclusion without requiring participation in unwanted financial services.

Lending, cross-border remittance, and credit building offerings

There are several cross-border remittance services making a name for themselves in the crypto community, but unlike others, Everex provides Ethereum-based remittance, lending, and credit building products, built on individual smart contract for each fiat currency, as well as technologies to make navigating the blockchain a more user friendly experience.

Improving platforms and underlying technologies is a vitally important aspect of approaching mainstream use and acceptance. Everex provides easy-to-use tools and simple network interactions to ensure the best user experience possible.

When is the Tokensale?

The public token sale is scheduled for the 24th of July. Interested parties should register in Slack or Telegram (listed below) to be notified about the event and participate in the community.

Here are all of our social media links

Social Media Links

http://bit.ly/evxslack

https://t.me/everexio

https://twitter.com/everexio

https://www.facebook.com/everex.io/

https://www.reddit.com/r/Everex/