Deeper Dive In The Veriscope Governance Task Force Since mid-July, The Shyft Network has been hard at work to provide a global compliance solution, the Verified Shyft Compliant Optimized Participant Exchange, i.e. Veriscope to help Virtual Asset Service Providers (VASPs) effectively adhere to the most recent FATF recommendations. The release was followed up with the announcement of the **Veriscope Governance Task Force**, whose mission is to develop the onboarding solution…
Shyft Could Empower DeFi with Data to Compete Effectively The latest craze to hit the Crypto space is Decentralized Finance, or DeFi for short. Backed by the notion that a decentralized architecture is capable of recreating traditional finance in an environment without any centralized middlemen, DeFi is growing into an ecosystem of financial applications that are universally accessible to all. These blockchain-based financial applications are however facing fierce…
Accelerating DeFi Development with Algorand It’s pretty safe to say that we are currently living in the DeFi era. The following is a Google Trends chart that shows interest over time for the “DeFi” keyword. As you can see, there has been an increasing amount of interest in everything DeFi related over the past 12 months. As per DeFi Pulse, the total value locked up in DeFi is around $7.85. **DeFi’s potential** For the uninitiated, DeFi stands for decentralized finance. It’s…
Ethereum contenders Ethereum started the DApp revolution with its innovative blockchain technology and features. As DeFi gained traction, Ethereum naturally became the de facto platform of choice for its various tools and projects. But it continues to wear down due to DeFi’s unprecedented continuous growth and its own inability to scale up linearly. Ethereum’s plan to tackle the issue by shifting from Proof-of-Work to the much more scalable Proof-of-Stake has also been…
What the Travel Rule Means for Crypto Users and Investors In June 2019, the Financial Action Task Force (FATF) amended the anti-money laundering (AML) and counter-terrorist financing (CTF) recommendation to include virtual assets. Recommendation 16, widely known as the Travel Rule was established to provide guidelines for combating financial crime. Initially, the Travel Rule only applied to banks. However, the recent amendment has widened its scope to include virtual assets…
The Question of Underwriting in DeFi And What's Developing On That Front So far 2020, has been a truly magnificent year for Decentralized Finance (DeFi). Since the beginning of the year, the total value locked in DeFi smart contracts has risen fivefold, with the vast majority of this growth coming from the last two months alone. This was also marked by the emergence and explosive growth of new hopeful DeFi platforms, such as Compound and yearn.finance. However, there is…
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