London, UK-headquartered blockchain and Web 3.0 venture capital firm Outlier Ventures has become an investor in and strategic partner of Herriman, Utah-based Evernym, according to an Outlier Ventures-Evernym joint press release CoinReport received.
Evernym is regarded as the leading developer of self-sovereign identity technologies and inventor of Sovrin, the worldwide public utility for decentralized exchange of verifiable claims. Sovrin’s utility token distribution event is scheduled for mid-2018.
Employing the exclusive properties of Sovrin, Evernym develops applications that allow people, businesses and linked devices to securely control their own identity data, deciding when, with whom and how much data they want to disclose in any given exchange.
Evernym is using this technology to develop applications for several partners including the US Department of Homeland Security, the UK’s healthcare system and numerous top worldwide financial organizations.
Outlier Ventures CEO Jamie Burke said in the release we received, “Evernym is an organization unlike any other in the distributed identity space. At their stage, to have earned the cooperation and patronage of such organizations as Hyperledger, the Illinois Blockchain Initiative and the entire U.S. credit union industry, speaks directly to the potential Evernym possesses. We just knew we had to be a part of this story.”
He added, “Self-sovereign identity for people, organizations and connected devices is the one problem everyone wants to see solved. The deeper you look at Evernym’s breathtaking technological innovation, it feels the solution is at hand. Each of our portfolio companies, present and future, needs this technology, as demonstrated by Evernym’s recent announcement of a partnership with IOTA. Despite a lot of noise in the identity space these are the only innovators who have achieved any serious level of adoption.’’
Evernym delivers SaaS services and applications developed on top of the Sovrin Network, which is considered as the world’s only distributed ledger purpose-built for self-sovereign identity and the exchange of confirmable claims. The international, non-profit Sovrin Foundation is directed by a constitutional “Trust Framework,” conceptualized with the Sovrin network’s persisting independence as its principal aim.
Evernym co-founder and CEO Timothy Ruff stated, “We’ve accomplished a lot in our relatively short existence, but among the highlights I count our new relationship with a firm as well-regarded as Outlier Ventures.
“Together, we will break ground destined to prove fundamentally transformative to the internet in general, and digital trust in particular.”
Image via the GlobeNewswire press release