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Shyft Network Partners with PARSIQ

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Shyft Network Partners with PARSIQ

The innovative credentials verification platform Shyft and the blockchain infrastructure company PARSIQ have announced their new partnership that integrates new technologies into multiple blockchains.

Shyft Network is aiming to bring ownership of data back to the people whose data is being managed, stored, and sold amid the world is starting to adopt blockchain technologies.

Meanwhile, PARSIQ has achieved to build an important technology in providing real-time notifications on transactional data processed on-chain.

Read our full guide to Parsiq here.

PARSIQ Monitoring will Be Integrated into Shyft

PARSIQ Head of Business Development Tom Matta highlighted that the company’s digital identity authentication and verification technology are important for the future of the blockchain industry:

“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.”

Both Companies Continue to Strengthen Their Technologies

Skyft platform enables sender identity authentication and unlocks new economies of trust. The world’s largest cryptocurrency exchange Binance applied the Shyft Network to deal with the FAFT “Travel Rule” that forces companies to share users’ personal data when processing digital asset transactions.

Recently, Shyft Network also left an announcement to be an “identity layer” for the permissionless blockchain network of Polkadot.

The Shyft Network Co-Founder Juan Aja believed that the integration of technology from PASIQ into the firm would give a more satisfying experience to users:

“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.”

PARSIQ uses “Smart Triggers” technology which handles live streams of data on-chain and pushes data off-chain in order to connect on-chain and off-chain systems. In 2020, the firm received the investment from BinanceX. Recently, PARSIQ also announced to integrate a Layer1 into the Polkadot Relay Chain.

One of the milestones of PARSIQ is the launch of Smart Triggers to the cryptocurrency industry. The new technology supports real-time on-chain events to trigger off-chain actions that bring developers the possibility to automate workflows and builds endless ways to interact with real-world applications.

Finally, it is able to maximize possibilities while still cutting down on cost.

Shyft Network is Making Data Safer

The Shyft Network is a public blockchain protocol designed to guarantee the safety of data stored on public and private ecosystems. This provides an opt-in compliance layer across all systems.

The key to this technology is user acceptance that supports users to track the usage of their data. As a result, it requires the agreement of the owner to be able to use their personal data.

Using the network, individuals and enterprises are allowed to work together to add context to data that helps the network to unlock the ability to build authentic digital reputation, identity, and credibility frameworks.

PARSIQ Creates Connections

Launched by a team who have experiences and highly qualified industry professionals and have passionate about blockchain technology.

PARSIQ was created to be a blockchain monitoring and workflow automation platform which is designed to be a multi-level bridge between blockchains and off-chain applications.

The company develops a proprietary ParsiQL programming language to support users in monitoring and interpreting an endless stream of data on the blockchain. Therefore, PARSIQ technology provides uses the ability to monitor traders and ordinary users’ wallets.

By providing the necessary solutions, the company wants to push forward the mass adoption of blockchain technology, give everyone the ability to understand, and manipulate blockchain data streams.

The post Shyft Network Partners with PARSIQ appeared first on Blockonomi.


All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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