Blockchain identity solutions are increasingly becoming popular as the consumers seek security and accessibility in a digital globe. A <a href="https://www.reportlinker.com/p05871821/Global-Digital-Identity-Market-Premium-Insight-Competitive-News-Feed-Analysis-Company-Usability-Profiles-Market-Sizing-Forecasts-to.html?utm_source=GNW"> report</a> published by 360iResearch recently indicates that the world’s digital identity market is predicted to reach about $37 million before 2026. As coronavirus continues to enslave the world, this figure could even rise.

The banking industry has expressed great interest in digital identity solutions.  Blockchain-based digital remittance provider, Everest <a href="https://pr.reblonde.com/everest-bri-remittance/">partnered</a> with BRI Remittance, which is part of one of the biggest banks in Indonesia. In particular, Everest partnered with BRI Remittance to provide the bank’s clients a digital commerce platform, based on blockchain. The platform will enhance the smooth exchange of value between Indonesians and Europeans across borders.

The co-founder and CEO of Everest, Bob Reid briefed media outlets that BRI’s digital platform will be officially unveiled during Q2 of 2020. He also clarified that the objective of the project is to make sure cross-border transfers between Indonesia and Europe get settled by 24 hours time.
<h2>Everest integrates RBI’s banking system with the digital identity system</h2>
Moreover, the new partnership saw Everest fuse blockchain into RBI Remittance’s banking network. The system, dubbed as  “EverID”, was developed upon two private but permissioned <a href="https://www.cryptoknowmics.com/crypto/ethereum-foundations-donation-might-have-prompted-unicef-to-adopt-blockchain/">ethereum blockchain</a> infrastructure.

The blockchain-based identity system enables BRI’s clients to share vital details of their identity including their names, location and income. This information is crucial for KYC and AML purposes. The data collected about the user’s identity is afterwards connected to a wallet known as  “EverWallet.” The digital account Everest’s native token CRDT. 
<h2>Blockchain identity solutions vital for banking</h2>
On top of disrupting the remittance market; digital identity solutions are set to create opportunities for nations such as Indonesia and others. According to Julie Esser, the communications vice president at CULedger, a credit union service organization:
<blockquote>“As concerns over the coronavirus pandemic began to spread, credit unions started closing their lobbies, urging members to use alternative ways to access their accounts — becoming a digital credit union overnight. The volumes in these ‘open’ channels have skyrocketed.”</blockquote>
In conclusion, CULedger currently offers about eleven credit unions in the U.S with a digital identity solution dubbed MemberPass. The system is based in Sovrin Network’s <a href="https://www.cryptoknowmics.com/crypto/blockchain-value-in-energy-market-will-top-35-billion-by-2025/">blockchain</a> ecosystem.

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Everest partners with BRI’s banking system to offer blockchain identity solutions

Blockchain identity solutions are increasingly becoming popular as the consumers seek security and accessibility in a digital globe. A  report published.. %

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Everest partners with BRI’s banking system to offer blockchain identity solutions

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