Inspired by the Principles of Identification for Sustainable Development Goals, the EF empowers users to create a free, biometric, digital identity - with “privacy by design”. No entity, including the EF or any other organization, can open, change or alter any part of a user’s identity. As such, users are guaranteed (via code, not law) that their identities are private, secure, and persistent forever. Users can be pseudonymous, and granularly share various credentials. Although anchored in a de-duplicated, unique human identity, users can, for example, show zero-knowledge proofs that they are human, unique or are of age or KYC status, without necessarily giving up their privacy.
A Secure Account for Everyone
Store money, crypto, documents, and access financial services like payments, remittances, buy/sell/trade digital assets, savings & lending.
Self-funding DAO Governance
The EF leverages concepts from decentralized autonomous organizations (DAOs) to ensure that no centralized entity or person can access a user’s identity or account. Since “identity” requires recourse (i.e. in case of a catastrophic hack or a user’s loss of facial or other biometrics), multiple, different keyholders can come together to fix such issues or release software that could jeopardize the security of the DAO - an no single entity, including the EF, has the ability to open users’ identity stores. EverChain network is governed by Validators, which, in addition to processing transactions across a permissionless network, vote on pricing of basic services, transaction burn percentage, and validator rewards, among other potential initiatives. The DAO is organized to be self-funding based on the transactions processed over EverChain. That is, a percentage of the fees will be used to pay for the storage, bandwidth, and infrastructure to house identities and accounts in distributed storage around the planet.