Shyft Veriscope
Overview
Together with the Shyft Network, Veriscope enables VASPs to discover which VASP owns a (hosted) wallet address and is the only solution that solves for address discovery at scale without impacting the end-user experience.
Veriscope enables VASPs to:
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Post attestations (i.e. requests to withdraw/transfer funds to a wallet address)
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Listen to attestations on wallet addresses
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Respond to attestations via a secure peer-to-peer https channel and:
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Include an address ownership proof
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Share encrypted KYC/IVMS data
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Accept/Reject transactions
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Registration & set-up process
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Install Veriscope. This will create a VASP "trust anchor" account on the Shyft Network.
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Complete VASP profile and request it to be verified
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Start posting attestations and encourage counterparties to join the network
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Start listening attestations
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Start responding to attestations
For more information, see the Veriscope implementation guide.
Transfer workflow(s)
Veriscope supports advanced workflows including the exchange of encrypted IVMS data between VASPs and accept/reject. VASPs have the option to soft reject and request further information or else hard reject and decline to send or receive the transfer.
Sequence diagram text file
To generate or update the diagram above, paste the following into https://sequencediagram.org/
title Veriscope workflow
sender->oVASP:Submit withdrawal request
oVASP->oVASP:Post attestation
bVASP->oVASP:Respond to attestation with proof and signature data
oVASP->oVASP:Encrypt IVMS
oVASP->bVASP:Send signature data and encrypted IVMS
bVASP->bVASP:Encrypt IVMS
bVASP->oVASP:Send encrypted IVMS
oVASP->oVASP:Decrypt IVMS and risk check
oVASP->bVASP:Accept/Reject transfer
bVASP->bVASP:Decrypt IVMS and risk check
bVASP->oVASP:Accept/Reject transfer
oVASP->on-chain:Process the withdrawal
oVASP-->bVASP:Update transfer with on-chain transaction hashFor more information, see the Veriscope documentation on end-to-end flow.