Ocean Protocol is now in partnership with Everest
Ocean Protocol and Everest are partnering to add Everest’s global fiat on/off ramps and eKYC with identity creation & credential sharing capabilities to Ocean Protocol and Ocean Market. Everest is a device-free digital transaction protocol enabling digital identity verification for public services through the use of digital identities, electronic wallets, document management, and biometrics.
As part of the collaboration, Ocean granted funds to Everest to enable these capabilities for their community. Ocean Market users and businesses could benefit from fiat in/out, which necessitates identity verification. Similarly, data consumers want the ability to verify that users’ and business’ data truly belong to the individual or the business from whom they originated.
To truly monetize one’s data, be it a user or a business, a “real”, deduplicated identity must be associated with a wallet address. Without proof of uniqueness or humanness, a wallet address is as anonymous as a ghost. That said, users and businesses are entitled to their privacy, and thus to pseudonymity, as well as to private credential sharing. (For example, sharing a proof of address without revealing the actual address.) All of these are supported by Everest. With this combination of privacy and transparency, data suppliers and consumers can more easily exchange the value of good, verified data.
Everest’s eKYC solutions and fiat on/off ramps are a welcome addition to the Ocean ecosystem. The essence of Web3 is trust and privacy, and that is exactly what identity verification and private credential sharing are bringing to the table. If a data consumer wants to see a data publisher’s data asset, the consumer will be able to see the publisher’s linked credentials from Everest — all in a privacy-preserving manner, which is fundamental to Ocean’s values.
– Razvan Olteanu, COO at Ocean Protocol
With Everest tools, Ocean users will be able to associate their wallet address with humanness, eKYC status, and convert fiat to crypto and vice versa. As part of a phased approach, Everest will add the ability to process transactions on Everchain, its fast and low-cost L2 solution, and other chains.
The collaboration is accretive to both ecosystems, where Ocean users will get the benefits of the Everest ecosystem (ID tokens staked for various services), and similarly, Everest users will be able to monetize themselves more easily using Ocean Protocol and the OCEAN token.
– Bob Reid, CEO of Everest
Find out more about Everest’s Cloud FinTech platform at everest.org.
About Ocean Protocol
Ocean Protocol’s mission is to kickstart a Web3 Data Economy that reaches the world, giving power back to data owners and enabling people to capture value from data to better our world.
Data is a new asset class; Ocean Protocol unlocks its value. Data owners and consumers use the Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion.
Ocean datatokens turn data into data assets. This enables data wallets, data exchanges, and data co-ops by leveraging crypto wallets, exchanges, and other DeFi tools. Projects use Ocean libraries and OCEAN in their own apps to help drive the Web3 Data Economy.
The Ocean token is used to stake on data, to govern Ocean Protocol’s community funding, and to buy & sell data. Its supply is disbursed over time to drive near-term growth and long-term sustainability. OCEAN is designed to increase with a rise in usage volume.
About Everest
Everest is the world’s only device-free, globally accessible digital transaction protocol with built-in identity. The inability to prove identity is the single most significant barrier to economic inclusion. Banks, governments, NGOs, hospitals, businesses & users require ID verification, a wallet, and transaction system to exchange value. Through the use of digital identities, electronic wallets, document management, and biometrics, users will be able to digitally verify their identity for public services and claim their social and economic rights.
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