Introduction

Welcome to Veriscope.

In this document we aim to illustrate how VASPs can leverage Veriscope, to satisfy the FATF Travel Rule; i.e. the requirement to report known senders and beneficiaries of a crypto transaction between VASP platforms.

We have released an SDK and API so you can integrate Veriscope.

Full access to the SDK can be found here: ShyftNetwork/veriscope.

Please read the ReadMe for setup of Veriscope in your own server environment.

By the end of this document you will understand the process from start to finish on how your VASP platform can integrate Veriscope and solve the FATF Travel Rule.

When you are ready to integrate Veriscope, you will be provided access to the Veriscope Testnet. The Testnet will be set up with the necessary Smart Contracts deployed and configured for onboarding new VASP accounts. Shyft Network has developed dozens of SCs, but only a subset of those contracts are leveraged by Veriscope.

Note: As part of the installation, you will be required to serve your own POA node that will synchronize the Shyft Blockchain.

As a VASP, there are four main functions to consider for integration.

They are:

  1. Setting up your VASP account. At Shyft we call these accounts Trust Anchors (TAs).
  2. Creating Shyft accounts for users on your platform
  3. Setting Attestations for crypto wallet addresses
  4. Listening to network transactions

After all four of these functions are implemented, you will be able to monitor and record sender and beneficiary information related to crypto transactions that occur between your VASP and other VASPs on the Shyft Network.

Let’s review the environment requirements neccessary for integrating the SDK and API in the next section "Before You Begin".