The creditability network for the entire global economy.

A Seismic Shyft

A Seismic Shyft

The Shyft Network is here.

As of February 8th 2018, Shyft has launched. We’ve been working hard behind the scenes to bring this company to the public’s attention. Shyft’s goal is to create a decentralized, blockchain-based KYC network, federating government and industry, to deliver a quantum gain in security, compliance and cost.

We want to ensure our KYC/AML and Reputation solutions serve both traditional and crypto finance. Our panel of global advisors includes heavyweights from both sectors, which is key to creating an equitable service. Here, they weigh in on why they’ve decided to advise on Shyft.

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“In recent years, financial technology has been evolving by leaps and bounds. Unfortunately, at the risk of disruption or even catastrophic failures like terrorist financing, industry players have been struggling to keep pace with the advancements. Financial institutions are facing an increasing number of compliance obligations with heightened complexity and rigor, where failure to comply can result in significant legal penalties and reputational damage. The current processes used by financial institutions to handle regulatory compliance are broken and highly ineffective in stopping money laundering. Identity is being looked at in an improper manner and the industry is ready for a seismic change.”
— Joseph Weinberg, Shyft Chairman

From traditional finance, Daniel Kornitzer, EVP and Chief Product Officer of Paysafe Group says,

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“We’re keen to explore the leveraging of blockchain-based technologies to deliver more value to Paysafe’s consumers, merchants and partners, and this is a unique opportunity to do so alongside industry visionaries.”
— Daniel Kornitzer, EVP and Chief Product Officer of Paysafe Group
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“Business is getting increasingly interconnected; companies that remain islands may find it hard to survive. Shyft’s KYC technology is developing the “trust” infrastructure to help the business ecosystems of tomorrow operate.”
— Jeremy Bornstein, SVP MasterCard

From a crypto finance position, Ben Yablon, Salt Lending, has an interesting perspective,

“SALT is a financial ecosystem designed to allow holders of digital assets to use them as collateral for loans denominated in national currencies. Our model is based on a compliance first approach. As such, we take AML/KYC protocols very seriously. The process is among the most painstaking in our operation; the promise of Shyft is huge for us.”
— Ben Yablon, Chief Stratefy Officer Salt Lending

This launch has been an important step for Shyft, but it’s really just the beginning. We want to thank everyone who’s been involved in the process so far, it’s truly been a whirlwind.

UK Lords join Shyft Advisory

UK Lords join Shyft Advisory