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Product Marketing AMA With Brad Witteman (Mon 28th Feb 2022) Transcript

10 Second Pads:

How does everest handle hipaa laws? Sharing health data between two different organizations is illegal at the moment.


Brad:

For those outside the United States, HIPAA or the Health Insurance Portability and Accountability Act, is a set of laws that defines Protected Health Information, which cannot be shared with anyone but the patient and their representatives without patient consent. The method of sharing data in Everest is user initiated, or as a reply to a request, in both cases the user has granted consent to the sharing event. The recipient of the sharing data is sent a pointer and one-time-password which they use to view the shared data where it is stored. The healthcare information is not replicated, only referred to, and the receipt of that data is a biometrically verified event.




Dimitris:

can u please tell us how are u planning to leverage Everests partners recongizability in order to promote Everest and $ID? (Common workshops, promo videos, advertisements, or others?)


Brad:

I like the way that you think, Dimitris. When EverChain is available and able to be built on, many of our partnerships will be able to be promoted with common videos and events to show that combined functionality. Some of these partnerships also create significant value on their own, and will be highlighted as they are launched. What partnerships are you most interested in seeing promoted?


An example would be Chainlink or Kina. In the case of Chainlink, since we will host a node as an identity & KYC/AML oracle, any DEX or service provider currently taking their data feeds will be able to request proof of humanity, uniqueness, KYC status, and the user will be able to share that data (all consuming ID and LINK tokens). Chainlink is a great partner, and I envision them informing their network & partners of this service. And obviously, identity is just the first step, as we are discussing other things we can do together. Similarly, Kina Bank is essentially white-labeling the Everest platform (not all features), and they will be promoting that extensively. There are multiple other partners, but wanted to give you a sense of one crypto and one tradfi.




Dimitris:

How are u planning to control the promoting/marketing materials/activities of eAgents/eTellers so as to secure quality?


Brad:

Through enforcing the eAgent agreement. We have seen very effective constraints on marketing made by writing up the review processes in the agreement the eAgents sign for their territory, and then enforcing them. For each jurisdiction there are compliance concerns as well as social norms that need to be respected. In our eAgent agreement, the section on promotion has a review clause which is very explicit requiring the submission and approval of marketing materials prior to their use.


We are very aware of how the system could be gamed, so the thinking & methodology pays eAgents based on users’ actual monetizing transactions. For example, eAgents are not getting paid for “sign ups”, but are getting paid on buy, trade, sell, send, etc., essentially tying ID compensation to transaction volume and not to user growth.




Jaro:

Bob has made mention of Everest being able to mint eKYC NFTs on other chains, could we get a rundown on what exactly the KYC NFTs are, and how they can be utilized?


Brad:

Sure, nice question.


There are a number of ways of sharing information within the Everest ecosystem. There are Zero-Knowledge Proofs that we encapsulate in NFTs, and send with a corresponding One-Time-Password enabling the recipient to click through and view the proof. That NFT is minted on EverChain, then carried over our bridges to other networks. When a user clicks through the URL in the NFT, the Everest bridge and oracle direct that request to the appropriate location, and when the user inputs the associated One-Time-Password, the proof is displayed. In this case it can be wallet 0x0349kd was KYCed by Everest on 21 February 2022.


Deeper KYC data like Travel Rule recipient info or government identification can also be shared through a similar mechanism.




stuntmanKEV:

ser brad, feel free to answer some or none for the ama:


1) what brought about the shift to begin "engaging more with crypto communities, rather than traditional marketing"? how will that look exactly?


Brad:

There are synergies between the communities and platforms which are not unlocked through traditional marketing. No analyst days or press releases will unlock the power of a community. To harness the energy of the community we need to be making specific outreach to teach them about our technologies and how when included with our partners, they are game-changing.


There will be more focus on explainers, case studies, infographics and topical feedback.


Another angle is that Everest is positioned to bring TradFi into crypto, and equally to bring Crypto to traditional, mass market usage. We’ve found that TradFi is simply slower, and for now we add more value to helping Crypto go more mainstream, reach more users, become more regulated.




stuntmanKEV:

2) how is everest now prioritizing/sequencing product releases as opposed to what was planned last year? has there been a change?


Brad:

We are focused on delivering three main products and they are the same three products that Bob shared with the community many months ago; Identity verification and onboarding tools, Cashin - Cashout tools, and the bridge between Tradfi and Decentralized Finance.




stuntmanKEV:

3) why have there been no new affirmations on social media, or formal press releases, of updates with major partners such as oracle or ftx? are there any forthcoming?


Brad:

A lot of our partners, and the industry at-large got burned out on press releases and announcements prior to actual implementations and working solutions.


To give you an example, we signed a couple of MAJOR partnership agreements last year, but can’t say anything until the APIs are connected, the flows are live, real transactions are happening... then we can jointly announce the partnership.




stuntmanKEV:

4) if you're genuinely working to engage "more with crypto communities" what positive message would you be able to pass on to us diehard users on tg, discord, and even ct, that could help boost confidence that work is being done behind the scenes and tangible product will be more steadily released? when will the great ideas move past the idea stage?


Brad:

Bob and I are both products of Silicon Valley - we are tight lipped by nature and reticent to share things until they are ready for prime time. We are changing to become more transparent and have been working to share progress and planning with the community on AMAs. I assure you that we are constantly at work on the platform. We will continue to work to be more open and share our progress and plans with you. We appreciate the continued support and believe that you will be pleased with our progress at the end of the quarter.


We lived through BitTorrent being blameless, and Kazzaa, Morpheus, Napster getting put out of business. Similarly, we saw multiple friends’ and colleagues’ get sued out of existence for not following SEC guidelines. For example, I’m still seeing questions about roadmap with dates that are committed by the team... um, that’s kryptonite, dedicated management with forward-looking statements that may affect the price of something in some secondary market that we are not allowed to be part of. And to put your comment in context, I heard a lot of that in 2017 and 2018 when SAFTs were all the rage... nowadays, mention of a SAFT is utterly laughable.


Anyway, we’ll start posting more screenshots, API examples, transaction stuff on a more regular basis so that people know actual work is getting done.




stuntmanKEV:

and finally 5) you (brad) look like you listen to metal (hopefully pantera) but what kind of music do you listen to when you work? thank you for your time.


Brad:

I’m a big fan of Dimebag Darryl, but I really think that like Alex Van Halen, Vinnie Paul is the unsung glue that makes the band really great. I like a bunch of types of music from ambient to heavy metal. Not a fan of country.




10 Second Pads:

When does everest plan on being fully open sourced and transparent? When can we expect a github or slack channels? Running a slack channel for user issues would be a good direction where you can pin solutions. The future is open source and transparency, a narrative we hear a lot. If everest wants to be king, shouldn't you open your doors?


Brad:

At Everest, we believe in developing “Openly Proprietary” solutions which leverage open source software in a proprietary software stack. Why do we do this - it is truly the best of both closed source and open source software. We are strong proponents of the open source software movement, and contribute back to those projects we utilize, however, there are certain elements of our solution which are so sensitive that we should keep those secret.


This is a very similar approach to Apple Inc. They built their operating system above BSD, a well known open source project, however, included a series of innovations above BSD which they have kept private. They continue to contribute to open source projects that they utilize, but do not release all of their software under Open Source licenses.


Components of the system will be opened over time, however, other components will not.


Please keep in mind that open source code does not address lock-in via network effects. And lock-in is one of the key problems that it was supposed to solve. For example, if FB open sourced all their code, they wouldn’t lose too many users - due to network effect. Similarly, just because Ethereum and other projects are open source, does not mean that they don’t have lock-in (they do)... if you want to walk-the-walk of solving lock-in, then dedicate resources towards a common standard or transparent, cost-effective way to seamlessly traverse all L1s. To illustrate that point, how much in grant money has gone to opening L1s, and empowering users with the freedom to move, transfer easily? Not much. EverHub is an attempt to walk-that-walk.




J C:

what would constitute as “terrorism”, and justifiable cause to have an ID account locked or frozen or accessed by “authorities”, since recently governments around the world have arguably been overreaching with using definitions like terrorism to give themselves additional control measures over their population. In Canada the government even warned people and exchanges against using or promoting self custodial wallets, and froze some individuals accounts for donating as little as $50 to a protest before they even knew it was “illegal”. I would love to know what is the definition of terrorism in the case of Everest , since that alone could determine if an individual is at risk simply by using the platform. Thank you.


Brad:

“identity is sacrosanct and we can't do anything. If you're moving value across an unlicensed network and self-hosted wallet (i.e. managing a wallet via Everwallet, and sending over Polygon), similarly, there's not anything Everest can do. If you're moving value across any licensed network with a hosted wallet, then the entity (i.e. Coinbase, Everest Network, Ltd., Kraken) does what the government says.”




Jake Matteson:

Has the team considered reaching out to ENS’s competitor (HNS) for providing the same service both projects need?


Brad:

We have a concept called Everest Names which enable a human-readable address to easily share your EverWallet address with others. We can certainly approach HNS to offer a similar service for them.




bethebank:

What are three tangible goals that the marketing team are aiming to accomplish by the end of 2022?


Brad:

– Establish and refine the Ambassador program

– Increase the number and diversity of our AMAs

– Publish additional case studies and applications of our technologies




bethebank:

What other entities (banks, projects, organizations etc) would you like to see the APIs integrated into?


Brad:

Lots of banks, exchanges, VASPs and financial institutions.


DEXs – allowing them to perform fiat-in/out, and eventually enabling them to offer licensed services.




Oli:

Could you please comment on the extent to which the invasion of Ukraine has affected development? We understand that some of your dev team are stationed there. How many are in Ukraine and on the same note how large is the dev team now?


Brad:

While not direct members of our team, our colleagues in Ukraine are some of the smartest and most dedicated people we know. I am in awe of their strength and courage.


There will be minimal impact to our core development, but certain features may be slightly delayed.




MP:

Did you know Jordan Hall prior to working at Divx and if so, how did you meet him? How did Bob fit into this?


Brad:

I was fortunate to meet Jordan at DivX. Bob and I were the business and technical leads that created the mobile phone business there.


Bob moved to San Diego to work for Jordan at DivX, and they became friends over the years. To give you a sense of how forward-looking Jordan is, he was telling us about tokenization of media sharing in 2005, and creating viral feedback loops to drive online economies - all of this experience helped shape Bob’s and my views. Jordan’s thinking and mentorship helped to shape quite a bit of the thinking around Everest, and his relationships were helpful as well.


Fun fact, Jordan taught Sir Richard Branson about Bitcoin on Necker Island over a decade ago.




stuntmanKEV:

do you think that the log-in times are fast enough to make the wallet marketable? especially since it might be important to the general public to make the distinction between unlocking your phone with faceid as opposed to what the everwallet biometric sign-in entails. how much faster do you think it can get and will it scale to 1 million users? 100 million? (btw i logged in this fine sunday morning and it seemed even quicker than usual) can i spoof the algo by using a rubber nose from party city to make duplicate accounts? and how can you protect against that?


Brad:

We are continuing to fine-tune some of the login mechanism, but at 4 seconds, we feel it is fast enough for the general public. We also believe that the distinction between local and cloud unlock are important to highlight for people as it is a different experience and they should have different expectations - local should always work, cloud relies on network connectivity. This technology was explicitly chosen for its ability to scale.


Compared to scanning your face at an airport or immigration checkpoint, we’re on-par for speed of capture and processing. Comparing our current performance to opening an app (a local on-device biometric check), then we’ll need to get faster, but there will be some obvious design tradeoffs.




CryptoCowboy:

1.) Interested in learning more about how Everest fits into current industry identity standards (DID-WC3), can you elaborate on this piece a bit?


Brad:

The credential sharing standard, DID from the W3C working group, is a mix of how to format credential data and suggested protocols on how to share that data. Note that it is not an “identity standard”, and is inherently reliant on centralized databases of identity data as oracles (i.e. national identity registry or bank) for actual identification of an individual.


I believe Everest is the first decentralized, user-owned source of identity. For context, we’ve been discussing DIDs with Evernym since 2018, when it was barely an idea and a poorly documented one at that - it has come a long way since. Anyway, the formatting of data into that standard is something Everest can easily accommodate, and we likely will in 2022. Similarly, Everest can be an “oracle” in the DID paradigm, similar to how some of the CEXes are planning. Again, Everest is the only player we know of that creates an identity/is the source where the user actually controls their identity.




CryptoCowboy:

2.) The community had a good idea of the different KYC services offered by Everest. Would you mind going into details regarding Everest’s KYB (know your business) services, and the implications of being able to verify both businesses and customers?


Brad:

More commerce is conducted between businesses than person to person, and verifying a business (or a DAO) is fundamental to a complex economy. It’s so ingrained in society that we barely realize that it’s there, but without it, the world economy would stop. As we transition humanity/ourselves into something more self-governing, we MUST have KYB/DAO creation/verification, and such organizations need to be made up of verified human beings.


The POC we did with GLEIF and ADB is a good example of where we’re headed. Automating this process will take some time, but the end result will be akin to LegalZoom, where a business or DAO can be setup with governance, legal standing, a wallet with fiat & crypto - and verifiable identity.




Donzo:

I understand that Everest is running a Chainlink node and that Chainlink is expected to allow staking of the LINK token this year.


Will $ID holders who are also $LINK holders be able to stake their $LINK tokens on the Everest node or am I misunderstanding how this works?


Brad:

The Everest Chainlink node will be staked by Everest to enable us to operate most efficiently in the Chainlink ecosystem. Unfortunately, for management reasons, we won’t be opening up any of our stake for external stakers.




Nils:

I know it's a question you probably can't hear anymore, but considering the timeline what is the status of the iOS app?


Brad:

I am an iOS user also and want it as badly as you all do. It is coming, I promise it is coming.

Most of the APIs have been integrated, and we’re working through some bugs on biometrics - Apple likes to format things very differently than all other systems, so we need to ensure scalable, consistent behavior.



Rémi:

Can we have some sneak peeks, screenshots for example, of the iOS app ?


Brad:







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