Shyft Engages First Group of Trust Anchors With Over One Billion Data Points To Network, and Rolls Out TestNet

St. Michael, Barbados, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Shyft, a leading blockchain-based solution that is building a trusted ecosystem to enable secure and private data transfers, has announced its first group of companies that have signed an expression of interest to become Trust Anchors, including EnStream, BDO, Paysafe, Polymath, and Aion, with more than one billion data points across key sectors around the world. These companies represent a variety of use cases for the Shyft ecosystem, and are joining Shyft as partners at a pivotal time for the company.

Shyft also unveils its private testnet release this week, with the public testnet release to follow later this month. The private testnet reflects Shyft’s KYC/AML focus, contains documentation of Trust Anchor operations, sign up, and attestation flow, and will be released to the current group of Trust Anchors like EnStream, Polymath, Agora, and many others who have joined Shyft’s private beta.

Trust Anchors represent the key building blocks of the Shyft ecosystem. These organizations will act as a trusted source of verified data, and they could operate as nodes on the Shyft Network, as dApp builders, or simply integrate with Shyft through an API and take a larger role in the ecosystem.

Shyft Chairman Joseph Weinberg said: “Trust in institutional data collection and storage is unfounded, and the system is completely broken. At Shyft, we understand the need to reinvent the identity network to solve a global problem in a changing global economy. Shyft is undertaking an ambitious plan to build a global ecosystem that securely defines and attests data to the benefit of global consumers and institutions. We are leveraging the power of blockchain to help build reputation identity from this data that can be used globally, transcending borders. The caliber of global institutions we have on board so far is incredible, including governments and regulators, central banks, financial institutions, telecom companies, social networks, traditional and cryptocurrency exchanges, NGOs, retail and supply chain organizations, and hospitality and travel companies. These organizations will provide our ecosystem with high volumes of trustworthy data points for the benefit of all.”

Daniel Kornitzer, EVP of Paysafe, said: “Shyft’s goals to create a decentralized, blockchain-based KYC network, federating government and industry, and to deliver a massive gain in security, compliance and cost are beneficial and needed in the space. We’re keen to explore the leveraging of blockchain-based technologies to deliver more value to Paysafe’s consumers, merchants, and partners. This is a unique opportunity to do so alongside industry visionaries.”

For a full list of participating Trust Anchors, or to submit to be a Shyft Trust Anchor, please visit www.shyft.network.

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Shyft Chairman Joseph Weinberg and CEO Bruce Silcoff are available for interview.

About Shyft: 
Shyft is building the world’s first modern, secure, multi-stakeholder Blockchain-based digital identity ecosystem that enables KYC/AML attested data transfers. Combining privacy of data with efficiency of attestation, Shyft technology will radically streamline and simplify data collection, reduce cost and minimize the cybersecurity risks inherent in traditional compliance systems.  In addition, Shyft is working to make the global economy accessible for all by creating credible reputations for the 3.5 billion consumers who are lacking “identities” by today’s standards. Through participation in the Shyft ecosystem, Shyft is building a more financially-inclusive future for everyone. If you are interested in partnering with Shyft and integrating your solution with our platform, please get in touch with us through contact@shyft.network.  Representatives of our Shyft team based in St. Michael, Barbados and  our Shyft International team, based in Toronto, Canada are available to assist. For more information on Shyft, please visit www.shyft.network.