Shyft Network Profile picture
Nov 18, 2022 7 tweets 2 min read Read on X
1) Continuing from where we left off yesterday, we were to look into how Shyft Discover solves the VASP discovery, AKA address attribution issue.

But before we do that, there's something we must first understand: "Attestations"

It is a key functionality of Shyft Network. 💡 Image
2) So today, we will cover attestations, but only the basics, leaving meaty details for later.

What VASP stands for, though?

VASP = Virtual Asset Service Provider, which basically means a crypto-related business.

Let's begin now! Shall we?
3) Attestations enable VASPs to share user data along with transactions while keeping user data confidential. 

And it does so by encrypting user data.

(Note: Under the FATF Travel Rule, it is mandatory for VASPs to share user data along with crypto transactions)
4) Interestingly, only those permitted by the crypto business itself can access the user data. 🔐

And there is a clear benefit of this!

After all, it makes it very difficult for malicious actors (ex: #hackers) to obtain user data. ❌

A pretty solid functionality! Right?
5) And speaking of Travel Rule, how can we miss this week's biggest news?

Industry representatives have proposed to use a decentralized VASP discovery mechanism for Travel Rule compliance in the V20 event. 🎉🎊

That’s a huge win for the industry!
That's it for today!

Keep an eye on our Twitter feed. We will explain how attestations work in the coming days.

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

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Shyft Network

Shyft Network Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

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

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(