Shyft Network Profile picture
Nov 16, 2022 6 tweets 3 min read Read on X
1️⃣ Yesterday we looked at the address attribution challenge that #VASPs face while complying with the Travel Rule.

So today, we will look at its solution!💡

And which solution are we talking about? Well, of course, Shyft Discover 🔎

Let's see what it is all about! 👀
2️⃣ Shyft Discover enables a VASP to know who their counterparty VASP is! 🔎

But why is it so important? 🤔 Under the Travel Rule, #VASPs have to share user data along with the crypto transaction.

And it goes without saying user data is sensitive information.
3️⃣ So, if an originator VASP doesn't identify & verify the beneficiary VASP:

It may end up sharing critical information with a wrong VASP with dubious intentions. 🚨

And that will mean a data privacy breach. ⚠️
4️⃣ What should VASPs do? Well, all that VASPs need is Shyft Discover. 💡 

After all, it auto-detects 🔎 counterparty VASPs! 

And for auto-detecting the counterparty VASP, they only need a crypto wallet address.

Interesting! Right?
5️⃣ We will go over how VASPs can use Shyft Discover in tomorrow's thread!

Do you have any questions? Leave them in the comments below & we will make sure to answer them asap!

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More from @shyftnetwork

Apr 19, 2023
1/ Exciting news for VASPs (Read: #crypto businesses)! 🤩

We're launching #VeriscopeIaC, a powerful solution 💪 streamlining the Veriscope server deployment process. 🚀

More details here 👉 tinyurl.com/y45ebf4n Image
2/ It integrates with popular platforms & tools like #AWS, #Terraform, and #Ansible, & is flexible enough to work with other cloud platforms too! ☁️🔧

 VASPs, get ready to experience smooth deployment, from setup to usage! 🌟
3/ Follow our comprehensive guide 📖 and your Veriscope Server will be up & running in no time! ⏱️ 

Dive into the "infra" folder 📂 in the Veriscope repo to find the IaC magic. ✨

Veriscope IaC makes managing multiple environments (test, dev, staging, prod) a breeze! 🍃💻
Read 6 tweets
Apr 18, 2023
1/ UK Treasury's A. Griffith 🇬🇧 tells @CNBC UK's #cryptore gulations are coming soon. ⏳🔒

He reminded that post-#Brexit, UK controls rulebook 📖✊, aiming for agility & balance. ⚖️ Image
@CNBC 2/ In Feb, the #UK gov outlined proposed crypto rules 📃 for the turbulent industry. 💨📉

One of its key proposals was to get FCA-registered firms 🏦 to apply for a new FSMA-based regime. 🔐🔧
@CNBC 3/ Compared to the #UK 🇬🇧, the US 🇺🇸 has adopted a heavy-handed 🥊💪 approach to #cryptocurrency.

This raises Q: will UK's balance encourage innovation & adoption, or will the US's strictness prevail? 🤔

What do you think? Comment below 👇
Read 4 tweets
Jan 31, 2023
1/ Hello Shyftoshis! We're thrilled to announce our first 2023 monthly overview 🎉

Join us as we review our progress and set the tone for a productive new month 💪

From dev integrations and updates to community campaigns, it is a productive start to the year 🚀🌟
2/ Knowledge is power 💡 We keep educating our community and publish 30 blogs on:

CBDCs ✅️

China 🇨🇳 tinyurl.com/China-CBDC

India 🇮🇳 tinyurl.com/India-CBDC

Australia 🇦🇺 tinyurl.com/Australia-CBDC

Norway 🇳🇴 tinyurl.com/Norway-CBDC

+ more👉 medium.com/shyft-network
3/ We extensively follow the crypto regulations and their impact on user privacy in our Weekly Veriscope Regulatory Recap!

We analyzed:

Crypto Winter❄️ tinyurl.com/Regulators-Cry…

HK eyes on regional crypto hub 👀 tinyurl.com/Hong-Kong-Cryp…

Subscribe 👉shyft-network.beehiiv.com/subscribe
Read 8 tweets
Jan 30, 2023
1/ We have reached part-7 of the Shyft Office Hours Wrap-up Recap series.

And now, we move into the Q&A session that was conducted near the end of the Office Hours. 🎤

So, let's dive straight into it. 👀
2/ Question: In light of the current slow adoption of the FATF Travel Rule, what can Shyft Veriscope do to accelerate its adoption by #VASPs⁉️

@josephweinberg: Pushing Travel Rule adoption in a way that would prove to be negative for the #crypto ecosystem is a big NO for me❗️
@josephweinberg 3/ Instead, the preferred approach would be a more stable & safe one. 

After all, the impact would be considerably big. 💡

How big? 🤔 

5X-10X more in magnitude in terms of daily data transmission on Shyft❗️
Read 9 tweets
Dec 26, 2022
1/ Part-7(2)

We covered Veriscope installation in the previous Twitter🧵 & it's time to learn about the testing & onboarding processes.

So, let's dive straight into it 👀
2/ First, we will focus on the testing aspect:

There are two ways of testing the Veriscope API! These are :

Postman Collection ✅
Sandbox Environment ✅

Note: The testing stage will come only after downloading Veriscope 💡
3/ To begin testing, VASPs (read = crypto businesses) must log in to the Web application after downloading Veriscope. 

And then, VASPs can choose either the Postman Collection or Sandbox Environment to conduct testing.
Read 10 tweets
Dec 24, 2022
1/ We have reached the 7th part of the Veriscope campaign. This is also the last of the campaign. 

And today, we will give you an end-to-end walkthrough on how VASPs can install, test, and get onboarded onto Veriscope. 👀
2/ But for now, we will only look into the installation part. Let’s start.

We must visit the Veriscope Github repo to begin the Veriscope installation process 👇

docs.veriscope.network/docs/3.0.0/ins…

The repo consists of a complete installer with components to download Veriscope.
3/ The first thing VASPs (read: crypto businesses) need now is access to a server. 

However, the server must:

Be connected to specific internet ports. ✅

Have a domain name system (DNS) pointed towards it to translate the domain name into a machine-readable format. ✅
Read 7 tweets

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