Part-4(1)
1/ After Address Proofs does its job, which is enabling VASPs (read: crypto businesses) to determine who controls the wallet address, it's time for user data exchange.
Tap below if you missed our 🧵 On Address Proofs👇
1/ After Address Proofs does its job, which is enabling VASPs (read: crypto businesses) to determine who controls the wallet address, it's time for user data exchange.
Tap below if you missed our 🧵 On Address Proofs👇
https://twitter.com/shyftnetwork/status/1594873575336710144?t=ViM5mFj94RH4s7xFVmKKSg&s=19
2/ Facilitating user data exchange between VASPs - this is exactly what Shyft Veriscope is meant to do 🪢
It is, after all, Shyft's Travel Rule data-sharing product! 💡
It is, after all, Shyft's Travel Rule data-sharing product! 💡
3/ And the beauty of Shyft Veriscope is that it:
✅ Easily fits into the existing workflow of VASPs.
✅ Allows VASPs to share user data under IVMS format.
✅ Makes accepting/rejecting counterparty VASP messages possible.
✅ Easily fits into the existing workflow of VASPs.
✅ Allows VASPs to share user data under IVMS format.
✅ Makes accepting/rejecting counterparty VASP messages possible.
4/ Shyft Veriscope is very secure! It is HTTPs-based and all the payloads are encrypted.
Encryption basically means hiding the information through special code in a way that no one other than the intended party can access it.🔒
Encryption basically means hiding the information through special code in a way that no one other than the intended party can access it.🔒
5/ Data exchange between VASPs using Veriscope happens off-chain.
✅ All data exchange between VASPs using Veriscope is P2P.
✅ No middleman is involved.
✅ Shyft or Veriscope has no way of knowing about the data transfers between VASPs.
✅ All data exchange between VASPs using Veriscope is P2P.
✅ No middleman is involved.
✅ Shyft or Veriscope has no way of knowing about the data transfers between VASPs.
That's it for today. Comment below with your questions, if any. 👋
We will answer them asap.
We will answer them asap.
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