With the whole world starting to adopt blockchain technologies, Shyft Network is aiming to bring ownership of data back to the people. Those same people whose data is being managed, stored and sold. PARSIQ aims to provide a key piece of technology in offering real-time notifications on transactional data processed on-chain.
Shyft Network and PARSIQ are excited to announce a partnership and technical integrations across multiple blockchains. Shyft is an innovative credentials verification platform that enables sender identity authentication and unlocks new economies of trust. Binance, the world’s largest crypto exchange group, chose the Shyft Network to help address the FAFT “Travel Rule” that requires firms to share users’ personal data when handling digital asset transactions. Recently Shyft Network announced that it would become an “identity layer” for Polkadot’s permissionless blockchain network.
PARSIQ is a blockchain infrastructure company that connects on-chain and off-chain systems via “Smart Triggers” that processes live streams of data on-chain and push data off-chain. BinanceX invested in PARSIQ in 2020, and PARSIQ also recently announced a Layer1 integration with the Polkadot Relay Chain.
PARSIQ introduced Smart Triggers to the crypto world, allowing real-time on-chain events to trigger off-chain actions, giving developers the possibility to automate workflows, creating endless ways to interact with real world applications, maximizing possibilities while focusing on being cost effective.
PARSIQ Head of Business Development Tom Matta commented “Digital identity authentication and verification is core infrastructure for the future of multichain DeFi, and PARSIQ is excited to create smart triggers to protect users and platforms. PARSIQ’s position as a push-based data system is very valuable for protecting digital identities, because our triggers can be structured as alarms. If a user identity is compromised or under attack, PARSIQ can monitor for strange activity and provide real time updates to users and platform compliance teams.”Juan Aja, Shyft Network Co-Founder said “we are very excited about this particular integration; we are a decentralized network and look for exciting and powerful tools that enable our developer community to do more on the Shyft Network. PARSIQ’s technology has a natural fit with our identity and compliance-related partnerships.”
About Shyft Network
The Shyft Network aggregates and embeds trust into data stored on public and private ecosystems, allowing an opt-in compliance layer across all systems. The key pillar for Shyft is user consent, allowing users to track the usage of their data. Therefore, no one can use personal data without consent from the owner. Shift Network allows and gives incentives to individuals and enterprises to work together to add context to data, unlocking the ability to build authentic digital reputation, identity, and credibility frameworks.
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About PARSIQ
PARSIQ is a blockchain monitoring and workflow automation platform that serves as a multi-level bridge between blockchains and off-chain applications. PARSIQ technology is a proprietary ParsiQL programming language that allows users to monitor and interpret an endless stream of data on the blockchain; thus, it’s possible to monitor traders and ordinary users’ wallets.
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