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Blockchain firm Everex receives nomination in 2017 Remittance Innovation Awards

Everex, a financial inclusion blockchain development company, has received special recognition as an innovator in FinTech as it is one of 15 to be nominated for the 2017 Remittance Innovation Awards (RemTECH).

The nominees were announced on June 13 as part of the International Money Transfer & Payment Conference, IMTC USA 2017, held in San Francisco. Everex CEO Alexi Lane will travel to United Nations Headquarters in New York City, June 15–16, to attend the RemTech Awards presentation held at the Global Forum on Remittances, Investment and Development 2017 (GFRID).

Everex is a company offering cross-border microcredit services with all transactions transparent on the blockchain. Powered by the Ethereum blockchain, the Everex system makes it free for anyone to store and transfer fiat currencies to anywhere in the world, while offering micro-loans at competitive rates.

Last November, the firm announced a successful pilot test in which over 100 migrant workers transferred money instantly over blockchain to their homes in Myanmar.

Lane is excited for Everex to be one of four blockchain companies selected for nomination. He notes, however, that "Everex does not want to be perceived as only a remittance company," where transactions can “go unnoticed by the financial system.” He explains,

"We use our technology to put national currencies on the blockchain, where financial records create public credit history for the underserved. Like credit card transactions, blockchain records show how much is spent, so we can apply AI and machine learning to analyze the data and come up with the loan rate to offer the user."

The award presentation in New York coincides with the International Day of Family Remittances, which falls on June 16. The day was first celebrated in 2015 after 176 governments around the world recognized the importance of remittances in meeting the challenges faced by migrants and developing countries.

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