Happy Holidays from the Shyft Network team!
Shyft Network is a public blockchain protocol designed to aggregate and embed trust and validation into data stored on public/private ecosystems, and permissioned/permissionless networks. By facilitating bridging across siloed datasets, Shyft Network allows for layering of context on top of data, ultimately turning raw data into meaningful information.
By allowing and incentivizing individuals and enterprises to work together to add context to data, Shyft Network unlocks the ability to build authentic digital reputation, identity, and creditability frameworks.
November was an incredibly exciting month for us, with several exceptional public networks, companies, and governments joining Shyft Network as partners and stakeholders, one of which we’re officially announcing today!
Bitfury Joins Shyft Network as Partner and Stakeholder
Since its founding in 2011, Bitfury has been a prolific and crucial pillar of the Bitcoin ecosystem as a Bitcoin miner and developer of infrastructure such as: Crystal, a blockchain analytics platform; Exonum, a permissionless protocol which anchors to the Bitcoin blockchain; Bitcoin mining infrastructure; Lightning payment infrastructure; a music and entertainment platform; and more. Bitfury Capital has also been supporting top startups in the crypto space on a highly selective basis.
Exonum specifically has been incredibly successful in recent years, launching a variety of use cases with global governments and enterprises, and recently releasing the Exonum Enterprise stack. Crystal’s analytics platform is extremely competitive as a tool for compliance and blockchain monitoring.
Here are the details of our partnership:
- Bitfury will be a key stakeholder and partner of Shyft Network.
- Bitfury will support in the build and distribution of our FATF Travel Rule compliance solution. Shyft Network, Exonum, and Crystal will also build a suite of compliance and analytics solutions leveraging the Exonum and Shyft Network blockchain protocols.
- Bitfury will use Shyft Network as a trusted identity platform, data integrity standard, and consent framework for its current and future customers and projects on Exonum. Shyft Network and Bitfury will also collaborate on additional identity and data infrastructure for current and future government and enterprise partners.
Read more about it on Coindesk.
▇ Tech Update
The Shyft Network engineering team is hard at work building out the best integration pipelines to coincide with network launch. With the network protocol modification audit complete, the Virtual Asset Service Provider connectivity mechanisms, partner integrations surrounding this use-case, interfaces, and user-flows are being ironed out to be the best-in-class in an environment that is now touching the crypto industry.
Throughout this journey, Shyft Network’s position at the intersection of compliance and freedom enables us to have a major impact on making frictionless digital asset flows possible within a world where AML/KYC requirements are becoming mandatory across all asset transaction channels.
This is unexplored territory; however, our work with governments and enterprises over the past two years has given us a lot of confidence that we’re forging the right path. With the right partner integrations in place to support the myriad emergent use-cases, we predict a bright, stable, and comfortable future for all users of digital assets, supported by what we’ve built to date, and the possibilities created by major government-backed virtual assets trading hands in large volumes across population sizes that are grand in scope and scale.
▇ Bermuda Identity Initiative
Shyft Network, in collaboration with BurstIQ and the Government of Bermuda as part of the Perseid project, is excited to announce that it has recently completed the first of three scheduled sprints in the building of a multi-layer, distributed identity technology framework. We’ve officially coined this project as the Bermuda Identity Initiative.
In this first phase of the Bermuda Identity Initiative, the emphasis was on getting local public and private partners integrated into a basic access and credentials network in order to allow for privacy-enabled electronic access to validate ongoing customer KYC/AML requirements. Existing customers of local institutions and companies currently governed by the regulations and laws pertaining to AML and ATF in Bermuda, as well as those falling under licensing regimes, will be users of this network. Our goal was to leverage best-in-class open-source components to speed up delivery of important data while adding security and a customer consent layer. We are extremely proud of what we are building and thrilled by the progress made to date.
Shyft Network co-founder, Joseph Weinberg, spent the past week in Mauritius speaking to regulators about Bitcoin, decentralized networks, digital identity, and digital asset policy. Stay tuned for more updates…
▇ Crypto Finance Conference
Join us at Crypto Finance Conference, St. Moritz!
Shyft Network co-founder, Joseph Weinberg, will be speaking about digital identity and digital asset regulations alongside:
- Tyler and Cameron Winklevoss of Gemini
- Avichal Garg of Electric Capital
- Jane Lippencott of Winklevoss Capital
- Ken Seiff of Blockchange Ventures
- Meltem Demirors of Coinshares
- Hester Pierce of the U.S. SEC
- Young Sohn of Samsung Electronics
… and many more incredible speakers.
Come join us in St. Moritz, Switzerland January 15–17th 2020. Tickets here.
▇ Wrapping Up
We’re really excited about the next few months. And we appreciate your support as early network friends and contributors.
This piece was written by the Shyft Network team.
Shyft Network aggregates trust and contextualizes data to build an authentic reputation, identity, and creditability framework for individuals and enterprises.
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