Shyft Network To Build Opt-In Compliance Primitives on the Oasis Network
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Building a powerful creditability framework on the Oasis Network.
We are delighted to announce our partnership with the Oasis Protocol Foundation to provide new opt-in compliance primitives for applications built on the Oasis Network, a privacy-enabled scalable blockchain network for Decentralized Finance and a Responsible Data Economy. With this integration, the Oasis Network will be able to offer a more robust, interoperable and flexible compliant transaction framework.
The Oasis Network’s combination of confidential computing and blockchain enables a new paradigm called Tokenized Data. Blockchain allows for logging and enforcement of usage policies with high integrity and auditability. Confidential computing ensures that data remains private during computation and cannot be reused without permission. This capsule of data + policies creates a new kind of digital asset that can be consumed along specific guidelines for a specific fee or exchange of value.
Through our partnership, Dapps built on the Oasis Network will be able to integrate authentic digital reputation, identity, and creditability frameworks. This is a significant step forward towards enabling a user-controlled and privacy-preserving decentralized identity: users will benefit from the opt-in regulatory compliant feature that connects private and public databases, and permissioned and permissionless blockchains.
“Oasis strongly believes that privacy-preserving computation and identity will expand DeFi to a market worth $6T. We are excited to partner with Shyft to add this critical piece to the rich ecosystem of protocols integrated on the Oasis Network.” — Luca Cosentino, Oasis Product Lead
By integrating with Shyft Network, decentralized applications using Oasis Network can create whitelisted addresses, i.e., a whitelist of items/IP addresses that are granted access to a certain system or protocol, and Anti-Money-Laundering (AML) and GDPR compliant systems, that help comply with AML regulation while protecting user’s personal-identifiable information.
“This is an incredibly powerful partnership in terms of our goals of creating the future of compliant infrastructure and cross-protocol data discovery systems” — Suzanne Ennis SVP of Shyft Network
We expect that this integration will be fully ready by early 2021.
About Oasis Network
The Oasis Foundation is an organization supporting the development and ecosystem surrounding the Oasis Network. The Oasis Network is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Designed to give users back control and ownership of their data and financial sovereignty, the Foundation’s mission is to enable projects, developers and community members who seek to realize this vision. To learn more about the Oasis Network go to oasisprotocol.org or follow the Foundation on Twitter or Telegram.
To learn more, visit: https://www.oasisprotocol.org
About Shyft Network
Shyft Network is a public protocol designed to aggregate and embed trust, validation and discoverability into data stored on public and private ecosystems, and facilitate information transfer between permissioned and permissionless networks. By incentivizing individuals and enterprises to work together, Shyft Network allows for the layering of context on top of data, turning raw data into meaningful information.
To learn more, visit www.shyft.network
