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. 👀
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: 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❗️
After all, the impact would be considerably big. 💡
How big? 🤔
5X-10X more in magnitude in terms of daily data transmission on Shyft❗️
@josephweinberg 4/ To handle such a vast amount of data, we need a capable, well-designed system. 🛠
And the regulations must also be implemented properly before we reach that point.
And the regulations must also be implemented properly before we reach that point.
@josephweinberg 5/ Otherwise, such a massive amount of user data can quickly become a national security risk. 🚨
This is why a slow, steady, and measured approach to Travel Rule adoption is critical here.
This is why a slow, steady, and measured approach to Travel Rule adoption is critical here.
@josephweinberg 6/ Next 12-24 months will be pretty astounding for sure.
The days of putting out press releases one after another over regulations are gone.
We are in the phase of implementation now. 💡
The days of putting out press releases one after another over regulations are gone.
We are in the phase of implementation now. 💡
@josephweinberg 7/ Shyft has been building solutions for this very day to ensure a smooth transition for #VASPs to this new reality, in case it really came to this.
We will see regulatory acceleration within 12 months, including the Travel Rule adoption.
We will see regulatory acceleration within 12 months, including the Travel Rule adoption.
@josephweinberg 8/ There are two crucial pieces to solve before the Travel Rule adoption.
Interoperability ✅️
Getting everyone to collaborate ✅️
That's where Shyft comes into the picture.
Interoperability ✅️
Getting everyone to collaborate ✅️
That's where Shyft comes into the picture.
@josephweinberg 9/ That’s it for today! Next week, we will be back with the last part of the Shyft Office Hours Recap series.
If you have any questions, drop them below, and we will answer them asap.
Head over here to listen to the Office Hour's recording:
If you have any questions, drop them below, and we will answer them asap.
Head over here to listen to the Office Hour's recording:
https://twitter.com/shyftnetwork/status/1601306271935873025?s=20&t=vE5SibfQqET5UI_I6e5etw
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