Nate

[Nate @Nate3288]

I just entered to win a custom 1 of 1 Welcome to Nyx CLX Horus gaming PC from @clxgaming and @RobertsSpaceInd ! https://t.co/v6x3mb4pjF

[Jace Sparks @creativejace]

EP 0005 of our Podcast is now live!
ELAV8 PODCAST: What is Identity with Guest @bobreideverest

YouTube:
https://t.co/NCaNLFvRn7

Spotify: https://t.co/2lrJ3EcGc8

Apple Podcast:
https://t.co/fmVScVuu63

The @EverestDotOrg AMA w/ @bobreideverest coming soon to my YT

[Everest 🗻 @EverestDotOrg]

"We're currently demonstrating swapping $ETH to $AAPL, and working with regulators & broker/dealers to expand functionality

We already have deals signed for distribution of the white-labeled widget with tier one players, who reach 100s of thousands of users, who currently trade billions of dollars of #crypto..."

👉 Learn more: https://t.co/dxHa7ZKlvW

$ID #RWA #RWAs

[Everest 🗻 @EverestDotOrg]

"@EverestDotOrg built the entire stack, including #identity and custodial wallet platform. So, similar to a bank, we’re effectively going to market now. And with MiCA, we get to custody fiat AND #crypto, and mint asset-referenced #tokens..."

Learn more: https://t.co/WMaeyuoLTy

#CryptoRegulation #DeFi #RWA $ID

[Everest 🗻 @EverestDotOrg]

🔒 PRIVACY is a human right. A #VerifiedEverWallet is tied to 1 of 8 billion humans, and no one, not the CIA, NSA, IRS, Everest, or THE Foundation can see the data!

Oh, and we don't collect biometric hashes from an orb...

Get your free #verified wallet and $ID rewards now: https://t.co/yimYIV9XmA

[Vit Koval @toVitaly]

Our recent guest on the Default Global podcast, @bobreideverest, CEO of @EverestDotOrg, is a true pioneer in the crypto and blockchain space.

🎧Tune it Now
https://t.co/FAEHjC4jB6

#DefaultGlobal #Podcast #Blockchain #Crypto #Everest #DigitalIdentity

[Everest 🗻 @EverestDotOrg]

Our fiat-on/off ramp widget is now LIVE on @Bancor! Offering #crypto purchases with #VISA & #Mastercard debit cards - GLOBALLY 💳🌍

Try it here: https://t.co/EFsATFot5c

✅ Lowest fees
✅ NO KYC on purchases under $1k
✅ $ID $ETH $MATIC $LINK & more

[Everest 🗻 @EverestDotOrg]

💬 Bob: This reminds me of the discussion w/ a certain company + consortium a few years ago, which went something like “since you can’t prove live human, deduplicated among FB, Visa, Uber wallets, and you have a permissionless chain and no licenses, your project is DOA. Maxine Waters and every regulator will not let you go live. FYI I bet the guys at the IMF that if you release as-is, you’ll go to jail and I’ll buy WhatsApp for cheap……if you use THE Foundation infrastructure, you’ll solve basic technical problems; if you leverage Everest’s licenses and accounts, you’ll change the world and create 10s to 100s of $$billions in value.” They stuck with their not-invented-here mentality and FB’s dreams were discarded into the dustbin of history. Note that 100s of the best engineers in the world were dedicated to this project, and they missed…..this isn’t an easy set of problems to solve.

So, what are the potential benefits to Twitter if they used THE Foundation’s identity infrastructure, and Everest’s financial services platform & licenses?
BASICS: At the end of 2022, 0.2% of Twitter had signed up for the blue checkmark, and as of April 2023, the majority of blue checkmarks were with accounts with less than 1k followers, so Twitter has a fundamental issue to solve. A “light-blue-checkmark/verified wallet” solves this problem.

- BOT PROBLEM: Giving users the ability to anonymously prove they’re not a bot, and not requiring a credit card solves the Bot problem immediately, and reaches 100% of Twitter’s users instead of a very low percentage of users.

- ANON PROBLEM: to paraphrase @ jordan, “provably live, anonymous humans solves Twitter’s Anon problem. If Lebron James wants to verify that he is *the* Lebron James and bind this to @kingjames, he can do that. And you get a proof of identity much stronger than the current blue checkmark! But if he also wants to run an alt (and he probably has a few!) he can give that only “proof of humanity” and keep his actual identity completely to himself.

So, how does this last bit solve the “anonymous troll-demon” problem? Well, while the alt’s real identity isn’t *exposed,* it is tied to a real and unique human. Which means that if it gets banned or otherwise punished for bad behavior - the human can’t spin up another alt to avoid the effects. That is a major change of consequence that will meaningfully down regulate troll-demonology.” Which leads to adding financial services…..

- FINANCIAL SERVICES: connecting 100s of millions of users globally to a financial services platform that can send/receive fiat and crypto (yes, even DOGE:)) globally, and ability to buy/trade/sell crypto and soon stocks, commodities, currencies is HUGE. To give you a sense, Western Union earns roughly $18/user/year; Revolut $43/user/year; Coinbase $32-50+/user/year. Everest combined all these services, so Twitter could/should earn billions more $$ in accretive revenue, and with higher margins. They would earn so much in financial services that they would want to give away the “light-blue-checkmark/verified wallet”. As Elon put it, “it would become half of the global financial system”

- CONTENT: Signing content as authentically coming from aforementioned live human, Twitter-associated account is inherent in the design as well. That is, if you want to know if the info you are reading is really from POTUS, not POTUS_, or you're publishing and want consumers to know if verifiably/cryptographically-signed content came from you, that's architecturally embedded. Value of credibility in this case is the difference between the 1980s NY Times (highly credible then) and National Inquirer (lies and nonsense).

- ANONYMIZED DATA: the value of all the anonymized, but “real” conversations is likely priceless.

- SERVICES: there’s a lot the aspiring town square should have, including voting, collaboration, organizational transactions, all of which require anonymized, but verifiably live, unique humans.

The above means the value of Everest to Twitter is in the $$ billions. It also would position Twitter as the de facto leader in identity, which Andreessen noted is one of the next trillion dollar markets, and what Ian Bremmer notes as the “digital nation” power shift that is coming.

#VerifiedEverWallet $ID

[Everest 🗻 @EverestDotOrg]

💬 Bob: We’ve done lots of integrations, from Ripple’s ODL to bridging to Polygon and a traditional bank. My favorite integration to date is Twitter. It hits all the buttons that differentiate Everest:

- HARD PROBLEM: Human, not a bot + authorization & authentication, “real” identity is difficult. Not Goog, nor Zuck, nor Vitalik or W3C/DID folks have managed to find a solution. Everest solved it.

- USER CONTROL: User’s control their identity creation & verification, which requires governance and the tech to be thoughtfully put in place, and the aforementioned won’t go to the depths required in this realm.

- PRIVACY: you can prove you’re not a bot and still be anonymous. And if/when you want to share a limited amount of information for a given service (i.e. send $1k overseas), you can share the minimum amount of data required for the service.

- BRIDGE & SEAMLESS: The Twitter integration only required oAuth to associate accounts, so it was relatively easy compared to integrating to a traditional bank.

- The UX is pretty straightforward

- Solves a real problem. Cheaper, more value, connected to a financial system

- Utilizes $ID tokens

#VerifiedEverWallet $ID

[Everest 🗻 @EverestDotOrg]

💬 Bob: I’m very pleased with our new SEPA partnership with Openpayd, and with Checkout for debit cards. And Bitfinex has been great in working with us as well. We had to delay a few partnerships due to chokepoint 2.0 USD and the general sentiment of Americans about crypto over the past year, but that feels like it’s changing (especially after the Ripple court victory). With Chainlink’s progress on CCIP and that they may actually reach regulated financial institutions (organizations that care about identity), as opposed to DeFi (most are hiding from regs these days until they get a knock on the door), I expect we may be able to do more together. And I am looking forward to Kina Bank finally going live…..we’ve been in QA for months, and I think we’re close.

#VerifiedEverWallet $ID

[Everest 🗻 @EverestDotOrg]

📣 "It was a busy Q2. And as previously mentioned, we've been buidl-ing. A quick recap on what Everest achieved and how we are executing the strategy..."

👉 Read & subscribe now: https://t.co/BjFlfHQTah

$ID

[everestbob 🗻 @bobreideverest]

A lot of the chatter of late has been focusing on if/how DeFi teams/projects can find loopholes to avoid complying with existing and upcoming laws. The short answer is they can't. Sorry, the writing is on the wall and it’s as clear as day. And not adhering to laws will put these teams in the crosshairs of the folks w fines, jails & guns.

The FSB (G20) and FATF have made public recommendations on DeFi compliance. The EU has given legal clarity. Now the US is chiming in. Singapore, Japan and other major players have intimated roughly the same ideas. In sum, this is gonna happen, just like KYC enforcement at CEXes happened a few years ago.

Let's dig a little deeper on what tactics & ideas are common, and why they don't work (at scale).

- "We'll make a DAO, so governance is decentralized". That won't work. First, as most of us who are honest with ourselves know, very few projects are truly decentralized. Second, the EU, for example, has already called out "backdooring" via DAOs (are you a known person associated with the project?), and being offshore, so not looking easy to reach those users. Other jurisdictions are doing the same.

- "Let's not have control and raise less than $25M". First, the proposal is for people who have “control”. That is a known term in corp parlance, and I would not bet that automation or funky governance gets the folks who interpret laws (regulators) to believe your interpretation. To give you an example: existing obligations of corps in which no shareholder holds more than, for example 0.5%, but there is some mgmt that pays the bills for AWS, or updates a frontend, or worse has ability to tweak a contract….That "mgmt" is responsible for compliance. And if they don't do what is legally required, then they are forced out of business, fined, you get the point. Saying “we’re an autonomous collective” doesn’t absolve the team, project, collective of responsibilities for activities it facilitates.

- "We'll make the smart contracts unable to be updated", and then walk away from it. As a former BitTorrent employee, I get it. But as was the case with Tornado Cash, the regulators realized that existing law doesn't is very difficult to apply in this case, and said honey badger, we don't care - and sanctioned the contracts, turning them into kryptonite. They'll do the same thing to wallets that earn profits from DeFi teams who don't comply.

I could go on and on, but suffice to say that this is a reality we all need to adjust to. It's worth repeating, most regulators I know of are not against DeFi. They simply want basic identity verification, risk, rating, and reporting; anonymity is not going to fly. And again, Everest can help DeFi by ZKP-ing identities to DeFi, supplying the requisite risk rating, reporting, license, and monitoring.

A few links that may be helpful:
FSB: https://t.co/qSknjde8YQ
FATF: https://t.co/2d8FDUfQwa
EU: https://t.co/JR3X8KjVAW
US proposal: https://t.co/3PzIu6YCB4
Solution: https://t.co/MZxqzuQhNy

[everestbob 🗻 @bobreideverest]

With MiCA 1.0 as law of the land as of June 30, what does MiCA 2.0 look like? Y'all wanted regulatory clarity, and it's pretty clear. Summary: https://t.co/K7LdPhSkrM. Tldr DeFi will be regulated, verify identities & adhere to transfer of funds regulation. On a qualitative level you can just sense that the European Parliament via their commissioned study is 1) fine with DeFi, but not anonymity, and 2) tired of being hoodwinked by folks trying to cloak themselves under the cape of decentralization. Simply put, they're not buying that story any longer and are closing loopholes. Easiest way to comply and never have to see users' pii is outsource: https://t.co/MZxqzuQhNy

[everestbob 🗻 @bobreideverest]

I’m calling it: DeFi is going to be regulated. Basic identity verification isn’t going to kill the industry, and will actually open it up to mass market participation + earning.  Pseudonymous and still decentralized!    https://t.co/8f5QXfHgHg https://t.co/xbw7gO0SPo

[Everest 🗻 @EverestDotOrg]

📣 DEXes, Wallets & dApps can now integrate @EverestDotOrg’s fiat-on/off ramp widget to offer #crypto purchases with #VISA & #Mastercard debit cards - GLOBALLY! 💳🌍

Try it out & integrate today: https://t.co/NHWNSoXziM

✅ Lowest fees
✅ NO KYC on purchases under $1k
✅ Earn commissions on all users onboarded

$ID $ETH $MATIC $LINK & more

[everestbob 🗻 @bobreideverest]

Watching the US crypto regulation debates, I’m reminded that @EverestDotOrg chose wisely in selecting EU/Malta, with its clear laws on ID verification & compliance. Being grandfathered into MiCA + adhering to transfer-of-funds-regulations (ie DeFi will be compliant) positions us well. Nice to know that all the flack we took for being cautious & thoughtful, especially around $ID, is bearing fruit.

[Nate @Nate3288]

@RobertsSpaceInd 88

[Everest 🗻 @EverestDotOrg]

🌄 BETA is coming! Due to significant improvements to our backend, which allows enhanced access to various crypto, fiat & RWAs, and biometric & social authentication, we are sunsetting our current ALPHA mobile apps (effective immediately). These platform enhancements will not only improve user experience, but also open up more functionality to transact across the Everest ecosystem

During this temporary phase, Buy/Trade/Sell/Swap/Stake will continue to be accessible via our web version of EverWallet: https://t.co/281ylQ9z7v 💻

The web wallet will be the first to benefit from the upcoming implementations in the very near future, followed by new mobile releases to the app stores 📱

We couldn't be more excited for this next phase of Everest, and we thank you all for your continued support! 🗻

[everestbob 🗻 @bobreideverest]

I'm glad Everest invested 4 yrs into being licensed & regulated in the EU, essentially paving the way to be grandfathered into a #MiCA license. The biggest opportunities MiCA opens for @EverestDotOrg are to custody EUR, USD & other fiat, and to issue tokens backed by assets (i.e. gold, btc). FYI we have our own chain, link to other chains, and didn't spend time in Wyoming ;) Offering all of these services under one roof is game changing. https://t.co/mCfI7gFfil

[Everest 🗻 @EverestDotOrg]

Partners can manage their users' #payments and #identity with @EverestDotOrg's widgets via the Admin Console....

✅ Payment transaction history
✅ Member of organization
✅ Human & Unique and/or #KYC status

For more info, see the developer portal: https://t.co/pc9BoGr8ZA

$ID