Everex is creating a Global, Inclusive Economy with Blockchain-Powered Microfinance and Remittance Services. The company focus its products to four main targets. The Un- and Underbanked, more than 2 billion individuals without a bank account which traditional banking is not able to service because of the high costs, Everex provides immediate access to microfinancing services and cheap, global remittance services. On the other hand we have migrant workers and their families, which have to pay leonine fees to normal remittances companies. Everex provides the fastest, cheapest, and easiest way for migrant workers to send money home and sustain their families. Another very interesting service is provide is focused to tourists and expats who are moving in different countries and need to cashout in different currencies. Thanks to Everex, instead of obtaining traveler checks, or paying excessive conversion fees, visitors in foreign countries can buy and use any currency, anywhere in the world. And finally, Everex Aid Organizations, NGOs and Governments by streamlining relief and foreign aid programs, allowing the easy and publicly auditable distribution of funds to developing countries.
How it works Blockchain-Powered Microfinance and Remittance Services top up funds
- Everex invests aggregated Capital to provide microcredit services, accessible globally and instantaneously on Mobile devices. - Everex calculates personal credit scores and determines risk and interest rates on the basis of individual user information and behaviour. This allows us to lend to billions of individuals who cannot access microcredit services through traditional channels. - Everex transactions are settled on the basis of 100%-backed, Ethereum-based Cryptocash currencies. For every Cryptocash dollar, one US dollar is held in a publically viewable third-party escrow. - Everex builds a global network of partners and vendors that accept Everex transactions as payment, while functioning as cash-out stations at which Cryptocash can be redeemed against fiat currency.
New markets fesiability
Attention. There is a risk that unverified members are not actually members of the team
$6 772 800
$26 383 026
Opportunities:Experienced team with different successful projects on Ethereum under their belt.The team has already tested their project in the real world with great results.There is a large demand for the services – Everex can help those who are unbanked, especially in the developing countries.Network effect is present for the platform. The more users Everex has, the more valuable the platform is because it would be easier to find borrowers and lenders with different credit profile.Everex will use 20% of its net profit to buy back EVX, which provides another way for the token to appreciate in value.
Concerns:Everex is potentially in competition with Omise GO as they are both focused on the unbanked in Southeast Asia. You can find my analysis on Omise Go here:Omise GO is more B2B while Everex is more B2C. However, end users can still choose between Everex or Omise GO's corporate customers.Everex has a more ambitious plan of expanding into mature and emerging markets globally.Omise GO has a head start with funding from both ICO and traditional VC, possibly in adoption too.Omise GO is only a wallet platform, doesn’t do microlending.Omise Go is acquiring another company in the payment space.
Conclusion:Overall, I dislike the ICO for its short-term potential but like its long-term potential. Our thoughts of the tokens for short term and long term are as follows:For short-term holding:Neutral because of the relatively long lock-up period. For the short-term, it is very important to be able to liquidate the tokens quickly and this is not the case with EVX.For long-term holding:Good because of the strong team and genuine need for Everex’s products. Omise GO is in competition with Everex but the market is large enough for both projects to thrive.
You can download the Everex wallet today for Android (an iOS version is scheduled to be released in the future). It’s also available through your web browser at Everex.cash (available on iOS, Mac, and PC).If the company is successful, its global remittance system will absolutely change the state of international business.
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