Everest Is Now a Data Provider on the Chainlink Network, Bringing Novel Identity Data to Blockchains
We’re excited to announce that Everest — a full-stack platform and licensed custodian — is now using the Chainlink decentralized oracle network to supply novel identity data to dApps across the blockchain ecosystem. By leveraging the industry-leading blockchain middleware solution, we’re able to securely deliver data to on-chain applications so ecosystem members can verify the following identity statuses: Human and Unique (deduplicated human identities holding wallet addresses), or KYC-d (a verification that this address belongs to a KYC-d individual). As a licensed custodian, Everest’s KYC comes with compliance embedded in smart contracts, thus solving many of the identity hurdles Web3 projects have.
Developers are now able to access Everest’s high-quality data to support a wide range of identity use cases, including deduplicating the humans behind the addresses that voted to only count the votes of real individuals, verifying that the owner of an address is known, unique and deduplicated. Another prime use is verifying that the owner of an address has been KYC-d.
Everest provides the only solution for human, deduplicated identity, value transfer, and compliance designed for other projects to leverage. Web2 and Web3 companies needing access to traditional finance, decentralized finance, or both, can quickly implement an outsourced full vertical financial services stack with compliance . They can onboard customers with a biometric-driven eKYC process, provide them with an account, offer the ability to transfer in fiat or crypto, manage their funds and identity information, and meet regulatory compliance standards, all with an extensible platform. Through this integration, Everest provides address verification service — is this address Human and Unique, and does this address belong to a KYC-d individual? There are many activities that require deduplicated addresses including compliance, voting, resource distribution, and access control. This also provides financial services providers access to an oracle for the KYC status of addresses.
Oracle networks dramatically benefit from network effects, and the most established oracle services platform by far is Chainlink. By delivering proofs of deduplicated addresses and known KYC-d addresses delivered as a service across Chainlink decentralized oracle networks, Everest will provide profound new capabilities to the ecosystem. DAOs and projects can now leverage these data types in their project.
We chose to supply our novel identity data through Chainlink because it provides a multitude of critical features, such as:
- Credential Management — Chainlink nodes can securely manage API keys and account logins, leading to a seamless integration in which Chainlink nodes can purchase API subscriptions in the same manner that traditional users do today.
- Blockchain Agnostic — Chainlink is blockchain agnostic, meaning our data can be made available on any current or future blockchain environment.
- Widely Adopted — Chainlink is the most widely used oracle network in the blockchain industry, offering us access to a vast addressable market of potential data consumers.
- Provably Secure — Chainlink is thoroughly audited open-source software designed according to leading academic research, already proven to secure billions of dollars in value live in production.
Everest is excited to enable next-generation services with Chainlink which help mitigate types of account abuse, such as shadow accounts, sock puppets, trolls and troll farms, which all require the ability to generate accounts at will. Using a deduplicated, known, Human and Unique claim which can be associated with multiple addresses prevents these types of account abuse on networks. Prequalify addresses that you know can KYC for your new DeFi protocol with a simple, inexpensive smart contract call.
“Chainlink provides the most widely adopted decentralized oracle network for a wide variety of real-world data and off-chain computation. Everest is excited to supply identity data through Chainlink for projects and services in the growing smart contract economy.” — Bob Reid, CEO and Co-Founder of Everest
About Chainlink
Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.
About Everest
Everest is the first licensed, programmable asset-backed stablecoin provider, with its own high-speed blockchain. Everest offers its users global fiat-in/out to crypto, a portfolio of financial services, including crypto trading with an access to 120+ coin pairs, international remittances, earning and borrowing, foreign exchange, and staking. Its unique biometrics-based digital identity platform empowers users to digitally verify their identity, and selectively share proofs, credentials, and attributes.
Learn more about Everest at https://www.everest.org/
