Discover and read the best of Twitter Threads about #shyft

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1/ Part 3(2)

This week, we already covered #Shyft Discover's Know Your VASP capability. 

And today, we will look into how Shyft Discover solves the address attribution problem. 👀
2/ If you have been with us since day 1 of the Veriscope campaign, you will know we looked into the basics of address attribution in the early days of the campaign. 

If not, visit our previous 🧵 on address attribution below👇

3/ Address attribution basically means accurately verifying the beneficiary VASP’s wallet address 🔎

Why is it important❓👇🏼

It enables VASPs (read = #crypto businesses) to verify whether the counterparty VASP is indeed the correct party or not.
Read 11 tweets
1) Although published in 2019, very few countries have enforced the #FATF Travel Rule till now!

But that will change soon as ⚠️ Crypto #regulations are discussed at as high a level as the #G20.

And #Shyft will be there to educate policymakers and look for regulatory solutions.
2) Once countries begin enforcing the crypto regulations, including the Travel Rule, #VASPs will have no option but to comply

However, there are some major issues that must be highlighted during Travel Rule compliance:

#1 Attribution 🚨
#2 Data Transfer 🚨
3) These issues put #VASPs in a fix!

So, what is the Attribution problem? 🤔

It refers to the difficulty beneficiary #VASPs face in proving they own the respective wallet address

And thus, Originator VASPs, too, have no way to verify the identity of counterparty #VASPs
Read 10 tweets

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