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Everex is a young technology startup in the Blockchain space with both a team and a business-model uniquely qualified to answer some of the challenges of international microfinancing.
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Everex Ensures Shariah Compliance Alongside Financial Inclusion
Interest
and remittance fees can cause the un- and underbanked to pay upwards of
10–30% in remittance fees and interest on loans. Depending on the
circumstances, some loan rates can climb even higher. As a result,
microlending has become increasingly popular across the globe, and
especially prominent in Islamic culture.
Everex
aims to significantly reduce the cost of international remittance and
provide micro loans with low transaction and conversion costs by
leveraging blockchain technology approach. International remittance
costs are currently very high, with the cost of sending funds internationally at around 7.5%, according to the World Bank Group. While microloans may be cheaper up front, often they can very easily accrue a large debt.
Seeking to resolve these issues while also being Shariah compliant, including facets such as riba, Everex
will offer competitive microlending rates and remittance fees while
promoting rotating savings and credit practices through smart contracts.
By
placing all of their records on a publicly auditable blockchain to help
the underserved establish a credit history, as well as reduce the fees
paid out to high-cost village savings and loan providers this
crowdsourcing model encourages group accountability and expands on some
operational efficiencies of traditional rotating credit and savings
associations.
Everex covers financial inclusion and Shariah compliance
Everex
intends to establish and maintain Shariah compliance during operations
with Islamic customers. Among the methods slated to be used in
compliance are flat-rate lending smart contracts which align with
prevention of riba qard, growth due to interest outside the scope of an
agreement; and riba jahiliyyah, debt growth in response to defaulting on
payments.
By ensuring Shariah compliance and offering financial inclusion, Everex
hopes to relieve financial stress on migrant workers, their families,
expatriates, and any other individual that may fall into the category of
un- and underbanked, totalling a market of more than 2 billion
individuals.
Everex Bounty and Link Referral Campaigns Are Now Open!
Everex
has begun reimbursing the community for their support. In order to
promote community engagement and give back to the ecosystem, Everex has
set aside 1 million EVX tokens.
Community is a core focus for the Everex Project and as such, Everex
would like to compensate the community for following their passion. 176,720 EVX is set aside to engage and give back to our community!
- The remaining 823,280 EVX tokens will be included in a bonus to token sale contributors!
Below
is a list of open social media outreach bounties that will reward our
community pursuing their interests and continued support.
Please note that all bounties are to be paid on a first-come-first-served basis, and that signing up for a bounty is required to be eligible for selection. Any attempts to abuse the system will result in permanent forfeiture of future bonus opportunities.
Everex would like to thank everyone for supporting the project!
[NOTE] Bounties will be paid within two weeks of token creation and allocation.
Link Bounty: blog.everex.io
My Contact
Bitcointalk Username : nor9866
Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=59586
Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=59586
