/biz/ - Business & Finance

Isn't it pretty much dead?

Sir I’ll be able to afford nice thot and Porsche in the Swiss alps if I buy this sir?

>>52248024
No, their Chainlink node is launching soon at which point they will be handling everything compliance related because Sergey and the executives don't want the responsibility.

>>52248032
Yes

>>52248024
not a chance. in case anyone was curious; for a financial Institution to legally take or use KYC:
these 4 attributes MUST be adhered to by law.


1) The software entity is subject to the SAME obligations for data retention, customer due diligence, that the financial institution they are working with is. This would be according to the laws of each jurisdictional sector. i.e. The software provider must be licensed and regulated by the same laws that the Financial institutions they are working with are beholden to.

2) Contract of data sharing

3) Risk of transaction and customer due diligence still must be done by accepting financial institution

4) Ongoing monitoring still must be done by accepting financial institution

SOFTWARE SUPPLIERS OF KYC CANNOT DO THE REQUIREMENTS ABOVE

Everest empowers users, organizations, and projects to utilize True Identity, eKYC, and a full suite of financial services including on/off-ramps for fiat/crypto backed 1:1 by our legal and programmable stablecoin voucher.


In summary that means that all DID and ZKP producers are potential partners, not competitors, of Everest. All will have to meet the above requirements... or they can just plug into everest.

>>52248538
VC Verified Credential reputation means nothing in the eyes of the banks and the law.

1) Attention is paid to KYC because the existing laws, system, regulations require KYC, among a bevy of other things.
2) If you read MiCA, and what the EU has stated will be in the next draft of MiCA (coming in Q1 ish), DeFi will be regulated. Again, I'm just reporting the news on this one, but when regulators tell me point blank "yeah, we had to get the first version out to handle basics on stablecoins, but we absolutely will be tackling DeFi in the next version", I don't know what to tell y'all. The sun is going to set in the west, water is wet, and DeFi is going to be regulated.
3) KYC alone does NOT make DeFi or anything compliant. Regulated in this context means that a full compliance system is required; for example, ongoing monitoring, risk rating, license, reporting, etc......so, even if some software vendor shows up with KYC (simply or even with identifiers or zkps), the DeFi project will need to build an entire compliance system per the above, and likely be licensed with insurance......or just plug in Everest.....

Does anyone remember FATF edicts from 2019, requiring KYC + compliance? Half the CEXes in EU disappeared in the following 12-18 months. And before the requirements, everyone said that it would never happen.

Reputation via identifiers is nice; it's like making someone on a dating site have over 50 FB friends, which is supposed to reduce (not eliminate) catfishing. But, as I used to joke with the CEO of DAOstack, "the moment you have large amounts of money/value transferred/distributed, someone will setup 500 wallets + get a bunch of interns in a village to add reputation......and the money/value will be stolen." In sum, I feel good about Everest's position and solution regarding KYC, compliance, use of ZKPs, and supplying real, deduplicated identity.

what's the make it stack and time frame please, I like Chainlink but too late now, mc too high, Everest marketcap looks interesting

>>52247979
Do you know how long I'd bury my face in that ass? Do you???

>>52247979
already dead in the water shitcoin. only invest if you want to lose all your money.

>>52249133
>>52249120
>>52249107
>>52248549
>>52248538
>>52248070
>>52248032
>>52248024
How much Everest to make it

>>52249107
>>52249144
Give or take 50k to make it, but even a 10k bag will allow you to make it on a long enough time frame.

>>52249133
Imagine being this retarded.

>>52247979

I lost so much money on this