Shyft, a global blockchain-based network that facilitates secure sharing of attested and compliant data, has announced the signing of a Letter of Understanding with HyperChain MEA, a Blockchain Technology Services firm based in Dubai — UAE serving the Middle East & Africa. As part of this partnership, HyperChain will become an active ecosystem participant for the Shyft Network, acting as a referral partner.
What is Hyperchain?
Hyperchain provides blockchain consultancy and product development services to corporate entities and government agencies in the Middle East and African region. The team is very active in the blockchain space in Dubai and is currently partnering with many international companies including Huawei and CollinStar, helping them to develop in these emerging markets. Hyperchain is positioning itself to win a sizeable market share in the Blockchain for enterprise solutions in MEA, with plans to support Dubai’s initiatives in becoming the world’s first blockchain-powered government.
How will the partnership work?
The Shyft Network is building a new more secure framework to tackle regulation and compliance requirements around KYC/AML and user identity.
“I am thrilled to form a partnership with Shyft Network for a potential new business relationship between the partners in the Middle East Region”, said Nassar Al Achkar, CEO of Hyperchain. “This marks another step in Dubai’s enthusiastic mission to become the global technology leader in the smart economy and more specifically the world Blockchain capital by 2020.”
This partnership will expand Shyft’s well-developed ecosystem of partners in its open and unified framework that allows for the standardization of regulatory compliance and due diligence mandates for Know Your Customer (KYC) and Anti-Money Laundering (AML).
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. Through participation in the Shyft ecosystem, we’re building a more financially-inclusive and efficient future for everyone.
For more information on HyperChain please visit hyperchainmea.com.
Shyft is building the world’s first modern, secure, multi-stakeholder Blockchain-based trust network that enables KYC/AML attested data transfers. Join our Telegram (https://t.me/shyftnetwork), follow us on Twitter (https://twitter.com/shyftnetwork), GitHub (https://github.com/ShyftNetwork) and other channels found on https://www.shyft.network