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Digital Identity, Security & Online Fraud

Shyft rolls out blockchain-based KYC/AML network

Monday 12 February 2018 | 08:59 AM CET

Shyft has rolled out an open and unified blockchain framework for the standardization of regulatory, compliance, and due diligence mandates for KYC and AML.

The Shyft Network’s blockchain-based system enables users obtain, store, inquire into, and work with compliance-satisfying data. It aims to provide a new paradigm for digital identity — one focused on leveraging reputation as collateral and setting a new standard in the attestation process.

Shyft is a reputation network that enables base layer identity anonymization and KYC data-anchoring. It assigns individuals and businesses with Creditability scores, defining their reputation, plausibility, believability, and likelihood that they are creditable. On the Shyft Network, creditability or reputation becomes collateral and user identities act as anchors on which bridges and gateways are created into new data sets that enable reputational creditability.

More: Link
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