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.

In the sections that follow you will learn how to interface with some of the Shyft Core Smart Contracts (SC) that have been deployed to the Shyft Network Blockchain. As a developer, we will present the specific function calls including the Blockchain transaction responses for each action discussed below.

We have developed an SDK and API so you can execute the same functions while reading this document.

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.

This guide requires that you have installed the following dependencies: node, npm, axios, web3, truffle, truffle/hdwallet-provider, BN, ethers, pako, web3-eth-abi, dotenv, and truffle-contract

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 will be discussed here. The Testnet is a POA network.

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

They are:

  1. Creating a 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".