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The Shyft Network Solution

The Shyft Network standardizes the KYC verification process, while providing the highest level of personal data protection for businesses, consumers, and governments across the globe. Functioning as a distributed network, Shyft has no single point of failure susceptible to security breaches inherent in traditional compliance systems.

Shyft leverages off-chain KYC processes within a shared ecosystem, using diverse types of data to build credible consumer profiles, including credit, reputation, and regulatory due diligence.

Ultimately, Shyft will eliminate the need for centralized KYC data storage, so users’ digital profiles will remain under their own control.

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By leveraging distributed blockchain ledgers and smart contracts, Shyft facilitates third parties, or Trust Anchors, as they collect user data off-chain using traditional processes to verify their legitimacy.

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Verifications of the KYC data are then broadcasted to the Shyft Network, proving the information collected has been verified, thus enabling the Trust Anchor to discard the data collected and avoid traditional central databases.

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The verification is then associated with an individual’s signature, recorded in the Shyft Blockchain as an immutable transaction, increasing their Reputation and Creditability Score.

Cryptographically Secure

Shyft eliminates the need for centralized data storage in identity verification using blockchain-based technology.


Shyft is analogous to bitcoin/blockchain.

As bitcoin has value associated to addresses, so does Shyft with KYC verifications.

Each Shyft address holds value by the number and type of KYC verifications performed.

KYC verifications are cryptographically signed by Trust Anchors and cannot be reversed or altered.

Like Bitcoin, the identity of the Shyft profile is anonymous; only the verification types are known publicly.

Due to consensus of the Shyft blockchain, attempts to alter verifications are impossible.

Shyft is decentralized, ensuring that no single body governs or controls the blockchain.

Shyft Tokens

Tokens are required to participate within the Shyft Ecosystem. Tokens pass between Trust Anchors for access to and knowledge of KYC checks performed on customer profiles. These customer profiles are represented by Shyft public addresses which contain a history of KYC verifications.

Tokens are the participation utility within the Shyft ecosystem.

Trust Anchors requiring KYC verification on a new customer may view a number of verifications on the Shyft blockchain for a particular KYC check. In order to understand details of a KYC check, the requesting entity will use Shyft tokens to request details from the owner of said verification.

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Tokens reduce
compliance costs.

As KYC verification details can be shared between Trust Anchors, the cost of compliance is reduced. Every published verification on the Shift Network gives owners the opportunity to recoup their initial compliance costs for tokens, via the sharing of their verification efforts.

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Tokens reduce
compliance costs.

Less resources and capital are required to perform compliance or consumer onboarding if evidence exists that the KYC process has already been performed a number of times.

Future Opportunities & Growth

Global Creditability - Applying plausibility, believability, or likelihood that something can be credible, where regular evidence is lacking -- such as identity and trust.

Most consumers across the globe have access to financial systems due to verified identity, but millions of others do not. Regulatory bodies are confined to empowering only those they can legally verify.

To solve this global issue, Shyft believes a reputation layer needs to exist above KYC and Bitcoin, whereby regulatory bodies can identify and trust the unverified. Reputation and good behaviour metrics can lead to identification and trust, providing creditability and access for all.

The Shyft RMT Token

The Reputational Merit Token (RMT) has the potential to bring the "unbanked" into the global economy.

  • This RMT layer, which exists above the KYC layer on the Shyft blockchain, is intended to provide reputation to people who are unable to participate in the KYC layer.
  • The goal of RMT is to provide reputation over time to non-KYC eligible participants such that they may be awarded with reputational identity.
  • With enough RMT association, these individuals may begin to access financial services otherwise unavailable because of their lack of KYC-ability.
  • 10 RMT = 1 KYC

RMT Use Case

The global remittance market is a great opportunity for RMT. Often senders have been KYC verified, but receivers have not, as many receivers do not have bank accounts and therefore lack any financial history. These “unbanked” are designated Level 0 KYC within Shyft (i.e. Full Name + Mobile Phone = Level 0 KYC).

As remittance services become Trust Anchors on the Shyft blockchain, they are able to allocate RMT tokens to senders and receivers for repeated good behavior. As receivers gain reputation tokens by receiving funds from KYC senders, they gain trust. With enough RMT tokens, regulatory bodies can begin identifying these individuals, enabling their participation within financial systems.

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