Crypto Anonymous posted on April 14, 2019 05:07:52
They seem to be a legit company that is supposed to be a sort of Paypal for the unbanked by utilizing blockchain for remittances and microlending. Although more coins/tokens often claim they solve the remittance issue by just launching a cryptocurrency that should be the solution in and out of itself, at least Everex seems to be building a system of remittances by using e-money tokens that are (let's assume their claim is real) backed by actual fiat currency deposits. This usecase does however entirely depend on the Everex company as a centralized entity to be successful, so the token does not represent a decentralized value proposition. so investors need to be aware of that.
Also, although the e-fiat tokens can be used for remittances, the EVX token doesn't play a direct role in this, unless fees are charged (one of the usecases for EVX is requirement for payment for services on the platform).
The other primary usecase for EVX is sort of a credit scoring system for people holding EVX (a higher balance plays a part for a higher credit score for the micro lending platform).
The company has recently signed an agreement with a Thai Bank for a remittance service with Myanmar, which certainly helps the case for legitimacy (if the Thai bank did its due diligence).
Seems the company has also contributed to the Ethereum eco system with their own blockexplorer Ethplorer.io which is being used by other crypto platforms on Ethereum as well.
Binance research did recently publish a relatively positive report on Everex
, and even though that is no guarantee at all, at least we may assume some due diligence in researching the project has gone into this report, which does add to the credibility.
To summarize: eventhough I believe in the legitimacy of the company, services and the team, the usecases and value proposition seem to be a bit disappointing from an investor point of view, so I think that is where the project/team is definitely lacking and I can't therefore put a 100% confidence unfortunately.