Everex, an Ethereum-based cross-border microcredit services and transactions company, was recognized for “Service Originality” on Thursday, June 15 by the remittance-focused RemTECH Awards at the United Nations headquarters in New York City. RemTECH honors “transparency, speed, cost and reliability for the companies and end-users that send and receive remittances every day.”
CEO Alexi Lane traveled to the U.N. for the RemTech Awards, which were held June 15–16 at the Global Forum on Remittances, Investment and Development 2017 (GFRID). After the awards were announced, Lane said:
“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.”
Everex was one of nine Blockchain-related companies nominated. Fifteen companies altogether were nominated, and five Blockchain companies ultimately took home awards. Lane notes that Everex was the only Ethereum-based platform nominated, while other recognized Blockchain-based companies mostly used bitcoin, litecoin or ether for internal transfers.
Though honored by RemTech for its contributions to remittances, Everex has also developed a system for placing national currencies on the Blockchain. By doing so, Everex allows 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.
Alongside Everex, bitcoin-based companies Bitso, Bitex, Cashaa, Digital X, Moneytis, OKlink and Trulioo were announced as contenders for the awards on Wednesday, June 14 in San Francisco.
After the nomination, Lane explained Everex technology.
“We use our technology to put national currencies on the Blockchain, where financial records create public credit history for the underserved,” Lane stated. “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.”
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.”
Payment companies nominated included TransferTo, Azimo, Moneytis, RemitONE, Comply, Advantage, Safaricom, Xoom and EcoCash, Diaspora, STPMEX and WireCash.
Everex’s originality lies in being the only Ethereum-based company solving problems in the remittance and micro-finance industries.
“We were very proud to represent Ethereum technology at RemTECH,” said Lane. “This technology will transform the remittance industry and increase financial inclusion everywhere.”
Everex is a financial inclusion Blockchain development company seeking to improve access to financial services and markets for the 2.5 billion un-and under-banked population across the world. Our solution offers national currencies in Blockchain form, using Ethereum smart contract technology that can be applied to cross-border lending, remittances, merchant payments, and currency exchange.