Everex, a microfinance and remittance services company based on Ethereum, has been recognized for “Service Originality” by the remittance-focused RemTECH Awards at the United Nations headquarters in New York City.
In its official announcement, Everex said that it was one of the nine blockchain-related companies nominated for the awards. CEO Alexi Lane noted that Everex was the only Ethereum-based platform nominated, while other recognized blockchain-based companies mostly used bitcoin, litecoin, or ether for internal transfers.
“We believe what separates Everex is our ability to create a credit history for underserved people, thanks to the Ethereum public blockchain, smart contract and decentralized application technology. The judges knew about Ethereum, and were excited by the ongoing experiments taking place on the network by individual users, small businesses and multinational corporations”, Lane said.
“We were very proud to represent Ethereum technology at RemTECH. This technology will transform the remittance industry and increase financial inclusion everywhere.”
Other blockchain-based winners at the show included Airpocket by DigitalX, Bitso, Moneytis and Trulioo. Airpocket won for “Remittances and Financial Inclusion”; Bitso won for “Pioneering Spirit”; Moneytis won “Most Innovative Service”, and Trulioo won “Potential for Growth.”
Everex said that it has developed a system for placing national currencies on the blockchain. This would allow people living in cash-based societies to earn a public financial reputation. Everex can then determine micro-loan rates for the historically underserved from the blockchain-based risk assessments.
“We use our technology to put national currencies on the blockchain, where financial records create public credit history for the underserved,” Lane stated in a press release. “Like credit card transactions, blockchain records show how much is spent, so we can apply AI and machine learning to analyze the data and come up with the loan rate to offer the user.”
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