Shyft Chairman Joseph Weinberg and Bermuda Premier David Burt sign MOU at Consensus 2018
Bermuda’s transition from crypto-nobody to jurisdiction du jour in the space continued to plow ahead Tuesday with the inking of a deal with Shyft, the Toronto-based digital identity provider.
Announced at Consensus 2018, the partnership builds upon the array of new blockchain and initial coin offering-friendly legislation, which was passed recently and awaits the governor’s signature, by laying the groundwork for a progressive ecosystem rooted in sound Know Your Customer practices, which are seen as a critical ingredient to the industry's continued growth.
“The Government of Bermuda has decided to lead the way and build interoperability into the government legislation [to], in essence, approach regulatory frameworks with exportability in mind,” Premier David Burt explained at the signing of the Memorandum of Understanding.
Burt continued:
“This is our Bermuda jurisdiction as a service, the high level of exportability ‘stack’ that includes technology, regulation, process and protocol that we have built with assistance and commitment of modern companies like Shyft with expertise in handling KYC and anti-money laundering compliance.”
Shyft is building a decentralized identity solution designed to collate all of the KYC and AML-related inputs required for a compliant blockchain transaction in a manner that maximizes privacy, enables required attestation and offers verification in a more streamlined and cost-efficient manner than current methods.
“Shyft has an ambitious objective of building a global digital identity ecosystem that gives all citizens the opportunity to participate,” Joseph Weinberg, chairman of Shyft. “We have a goal of leveraging new technology to make positive and inclusive change. We have found a similar intent and aspiration with the Government of Bermuda.”
No Time To Waste
The announcement comes amid a flurry of activity on the crypto front out of the British territory.
https://www.forbes.com/sites/astanley/2018/05/16/plowing-ahead-bermuda-continues-crypto-friendly-push-with-digital-id-partnership/Bagikan Berita Ini
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