Copy link
Increase text size
Decrease text size
Link copied

Former FATF executives join blockchain network Shyft’s advisory board

Josee Nadeau, former head of the Canadian delegation to the FATF, and Rick McDonell, former FATF executive secretary, are the latest to join Shyft’s board of advisors.

Tue, 29 Oct 2019, 07:43 am UTC

Public blockchain protocol Shyft Network has announced that former members of the Financial Action Task Force (FATF) have joined its advisory team, Cointelegraph reported.

As per the report, Josee Nadeau, former head of the Canadian delegation to the FATF, and Rick McDonell, former FATF executive secretary, are the latest to join Shyft’s board of advisors.

With FATF Travel Rule Compliance Solution being one of the key areas of focus for Shyft, the company is poised to significantly benefit from the experience of Nadeau and McDonell.

In June this year, the FATF issued its guidance that states that Virtual Asset Service Providers (VASPs) are required to collect, hold, and transfer information about the identity of the originator and beneficiary involved in any transaction.

To ensure compliance with this so-called “travel rule,” Shyft Network has partnered with several leading cryptocurrency exchanges to implement an industry-wide solution using its database bridging and data attestation infrastructure.

“Working with VASPs gives Shyft Network access to millions of cryptocurrency users who will be onboarded to the Shyft user-facing portal through these partnerships,” Shyft said in an online post, adding that the collaboration is focused on creating “a system for passporting KYC information across all participants that must comply with global KYC requirements.”

Earlier this month, the government of Bermuda teamed with Shyft Network to develop a blockchain-based national identity system. Shyft will handle the underlying blockchain technology of the identity system.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,941.77 (+3.18%)
  • Ethereum (ETH) $280.22 (+8.61%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $413.81 (+2.83%)
  • Bitcoin SV (BSV) $305.56 (-0.45%)
  • Bitcoin (BTC) $9,941.77 (+3.18%)
Feb 18, 2020 (Tuesday)
13:26
Enjin’s game development platform goes live on ethereum
12:14
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:14
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:13
Boerse Stuttgart's blocknox to offer crypto custody services to institutional clients
11:12
Crypto derivatives exchange Deribit lists daily ether options
10:48
UEFA EURO 2020 tickets to be distributed using blockchain-based ticketing system
10:12
South Korean and Singaporean crypto exchanges partner to develop new services
09:42
Russian central bank completes blockchain tokenization pilot in its regulatory sandbox
08:17
Crypto Technicals: ETH/USD retraces brief dip below 200H MA, close above 5-DMA to see upside resumption
08:16
Crypto exchange FCoin likely to default after up to $130M bitcoin shortfall
06:46
France-based Lagardère Sports partners with blockchain-based fan engagement platform Chiliz
05:36
Binance launches cloud solution to simplify launching cryptocurrency exchanges
04:52
Crypto Technicals: BTC/USD hovers around 21-EMA (9690), potential 'Golden Cross' limits downside
04:51
Telecom giants jointly test blockchain solution for automating roaming discount agreements
Feb 17, 2020 (Monday)
13:34
Fullerton Markets adds support for cryptocurrency deposits and withdrawals
13:02
Crypto asset custodian Copper raises $8M in Series A round
12:06
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:05
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:58
CFTC sues Colorado resident with fraud in crypto-related Ponzi scheme
11:22
Crypto Technicals: ETH/USD slips below 5-DMA, 'Golden Cross' to limit downside
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft