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Jan 31 • 8 tweets • 5 min read
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
4/ Shyft also celebrated Lunar New Year with a special giveaway! ✨️ 

tinyurl.com/Lunar-New-Year…

And in line with the demand from the Shyft community, we also published an SHFT Tokenomics update 📈

tinyurl.com/Shyft-Tokenomi…
5/ On the DAO front 🙌🏼 the ShyftDAO participation agreement voting is now open for DAO participants. 🗳 It aims to create an operating framework & govern the rights & obligations of each party.

Vote 👇🏼

Forum tinyurl.com/3a4vw64x 

Snapshot tinyurl.com/mrxrzam93/
6/ On the Dev side 🏗️ we added new IVMS-related features to Shyft Veriscope. 🛠

With this new feature, #VASPs (read: crypto businesses) using Shyft Veriscope can now add ➕️, manage 🔧 and export IVMS data. 

More details here 👇

7/ So, what do we have in store for next month? A lot, actually❗ 

The Shyft Ambassador Program ✅️

New Shyft Veriscope Updates ✅️

And more. Exciting! Right? 👀
8/ Thanks for following along with our monthly updates. The Shyft Network team always working to improve and grow, and we appreciate your support. 

Here's to another great month ahead! #MonthlyUpdate #MovingForward 🏂🏔️✨

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More from @shyftnetwork

Shyft Network Profile picture
Jan 30
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
Shyft Network Profile picture
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
Shyft Network Profile picture
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
Shyft Network Profile picture
Dec 23, 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
Shyft Network Profile picture
Dec 23, 2022
1/ Part-6 (1)

Today, we will discuss the transaction workflow consideration from a VASP's viewpoint.

Let's start. Shall we? 👀

So, here we go:
2/ Both Originator VASPs & Beneficiary VASPs have to do the following throughout the transaction workflow for Travel Rule compliance. 

Name Screening 🔍
Wallet Screening 🔍
Know Your VASP 🔍
Transaction threshold 🔍
3/ Now, let's look at three unique situations that Originator VASPs find themselves in a while complying with the Travel Rule.

We will see these situations one by one and get to know what options do VASPs have.

You be the judge and decide which of the options is better. ⚖️
Read 10 tweets
Shyft Network Profile picture
Dec 22, 2022
1/ Part-5 (2)

Starting from where we left off - Veriscope User Data Exchange.

Case-3: oVASP shares both originator & beneficiary data with the bVASP

🚨 In this case, the same issues that we saw in case -2 yesterday may crop up here as well. 

Check 👇
2/ 🚨 Resultantly, bVASP will reject the #crypto transaction due to an information mismatch. 

Once the transaction is rejected, oVASP will inform the originator 📩

And then, quite naturally, the originator will take this up with the beneficiary.
3/ ⚠️ This will cause friction between the originator & beneficiary!

Frustrated by the failed transaction, the originator may then escalate the matter to oVASP’s customer support 📞💥

This puts a strain on oVASP customer support capacity.
Read 7 tweets

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