Shyft Network
Shyft Network
Token: CREDS


Global Network of Trusted Information

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Registrated in: Barbados

Platform: SHYFT
Type: SHYFT

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Contents
Patent and Disclaimer 01
Introduction 02
Problem Statement 02
Solution 04
Shyft Network: Ecosystem Overview 04
Creditability 06
Ecosystem Standards 06
Shyft Network: Technical Description 07
Primary Initiatives 07
The Shyft Blockchain 08
On Implementing ‘Know Your Customer’ 09
Attested Smart Contracts 10
Shyft Fuel: The Shyft Token 10
Shyft Blockchain Architecture 11
Other Shyft Capabilities 15
The Reputational Merit Token: Creditability 17
Tentative Development Roadmap 19
Appendix A: BlockUnity Alchemie 20
© Copyright 2018 Shyft Network Inc. All Rights Reserved.
...

Patent and Disclaimer
Please note: The invention disclosed in this Whitepaper is the subject of a pending
patent application
Certain of the information contained in this Whitepaper may contain “forward-looking information”. Forward-
looking information statements may include, among others, statements regarding the future plans, costs,
objectives or performance of Shyft Network Inc. (the “Company”), the ecosystem or the platform or the
assumptions underlying any of the foregoing. In this Whitepaper, words such as “may”, “would”, “could”, “will”,
“likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form
thereof are used to identify forward-looking statements. Forward-looking statements should not be read as
guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the
times at or by which, such future performance will be achieved. The actual results of the C...

Introduction
Shyft
is a distributed, multi-layer Blockchain-based
network enabling users to securely obtain, store, inquire
about, and work with regulatory-compliance-satisfying
data.
Shyft reduces the costs of compliance due diligence
mandates [e.g. Know Your Customer (KYC); Business
(KYB); Anti-Money Laundering (AML); Enhanced Due
Diligence (EDD), etc.], while maximizing data security and
protecting identity beyond the capabilities of traditional,
non-blockchain-based compliance systems. In this
manner, compliance becomes cheaper, faster, and more
secure.
As a result, compliance obligations for financial
institutions are increasing in number, complexity, and
rigor.
1
Costs of satisfying these obligations continue to
rise exponentially. Anything less than strict compliance
can result in significant legal penalties and / or
reputational damage.
2
For banks and large institutions, compliance represents a
substantia...

Financial institutions have to cope with maintaining
cost-effective, risk-reducing compliance by implementing
temporary solutions. The current approach is to simply
raise headcount and deploy larger and larger amounts of
capital to meet new mandates. This approach is crude,
unscalable, and, over time, has demonstrated diminishing
returns.
• In 2013, JP Morgan spent an additional $1 billion on
adding 4,000 employees to their compliance department.
6

Half of global financial institutions have added
employees to keep up with Know Your Customer (KYC)
compliance over the past year.
7
• AML analysts spend 75% of their time on data
collection, and 15% on data organization and entry.
6
Additionally, compliance processes can be repeated
multiple times by subdivisions of an organization due
to “data siloing”, effectively multiplying costs. Data silos
are repositories of data which exist specifically for and
remain under the ex...

Solution
Blockchain-based distributed ledger technologies have
the potential to streamline, cut costs, and reduce risks
inherent in traditional compliance systems.
Over the past seven years, projects ranging from
digital governance to supply-chain shipping have been
developed. Organizations are retrofitting existing product
lines with blockchain technology. Proofs-of-concept
are appearing in traditionally risk-averse institutional
environments to more efficiently mirror vast swaths
of data. Additionally, blockchain tokens are being used
to incentivize users to act deterministically within
ecosystems.
For most - if not all - blockchains currently operating,
collection of any user data, let alone collection of data
that satisfies regulators is at odds with surrounding
ecosystems.
The lack of blockchains focussed on compliance data,
coupled with what we saw earlier—financial institutions
spending significant resources to tackle compliance—
me...

Token Economics
Shyft Ecosystem at a business-interaction
(Data Market) level
Data Attestors
DATA HOLDER
/ ATTESTOR
Regarded as Trusted Entities. They receive
Data from Issuers; review, confirm and attest
to its validity and existance. They hold it
off-chain and release it through a private
channel following payment of a fee.
Data Issuers
DATA
FEE
Owners of K YC/AML Data. They
may or may not be regarded as
Trusted Entities. They provide
their K YC/AML data to Trusted
Entities in exchange for an
DATA
ISSUER
attestation. Make use of app
services.
FEE
Nodes
FEE
DATA
CONSUMER
Data Consumers
Offer pre-approved app services
that require the use of KYC
data. They review attestations,
determine usability, and request
Data from holders.
Validate and record these
interactions as transactions on
the decentralized ledger.
© Copyright 20...

Certain transactions on the Shyft Network require
compliance-satisfying information from users. Users
provide their information (e.g. the user’s personal
information, jurisdictions that the user operates in, and
other metadata) to a Trust Anchor, who associates the
user’s signature with this information. The association
is posted to a secondary ledger that operates in parallel
to the transaction ledger. Via encrypted communication,
this association can then be used as a means for third-
party application providers to retrieve compliance data
for regulators and compliance departments as needed.
The identity of the user is not disclosed, but his or her
reputation can be confirmed via attestation.
Shyft serves a variety of compliance use cases such as
financial instrument exchange, crowdfunding, investment,
payment, and subscriptions. As regulations, procedures,
and new technologies continue to mesh with Shyft over
time, arbitration and other capabilities will co...

The Shyft Network: Technical Description
The Shyft Network is a combination of centralized data
attestation (the ‘Shyft Bridge’) and an expansive network
of validation nodes that connect to the outside world (the
‘Shyft Ring.’)
All other aspects of the Shyft Network’s primary security
models closely follow the Ethereum model. As Ethereum
codebase evolves, we will keep pace by incorporating
technical changes to improve the network. The Shyft
Network’s subcomponents will be described in the
following pages.
The Shyft blockchain features a smart contract
compatible architecture, running simultaneously on
the Shyft Bridge and the Shyft Ring. It is based on the
Ethereum blockchain’s codebase with the following
modifications to its consensus engine:
1. All Shyft Ring nodes must forward end-user requests
to the Shyft Bridge.
2. All Shyft Ring nodes must validate the transactions in
the Shyft Ring mempool up to the defined capacity limit of
Joseph Weinberg
Joseph Weinberg
Chairman
Business Development Advisor
Bruce Silcoff
Bruce Silcoff
CEO
CEO of Shyft, a blockchain-based data protection, identity verification, and compliance platform for institutions.
Anthony Di Iorio
Anthony Di Iorio
Loretta Joseph
Loretta Joseph
Advisor
Darius Rugevicius
Darius Rugevicius
Strategy
Investments
Strategy Advisor
Founder and Managing Partner at Connect Capital
Darius Rugevičius
Darius Rugevičius
Co-founder, Partner in Prime Block Capital Investment Fund
Marat Kichikov
Marat Kichikov
founder & CEO of BitFury Capital
Peter Warrack
Peter Warrack
Diego Gutierrez Zaldivar
Diego Gutierrez Zaldivar
TECHNICAL ADVISOR
Blockchain Advisor
CEO & Co-founder RSK
Diego Gutiérrez Zaldívar
Diego Gutiérrez Zaldívar
CEO & Co-founder @ RSK Labs
Jane Thomason
Jane Thomason
Blockchain Social Impact & Emerging Markets Advisor
CEO of Blockchain Quantum Impact - British Blockchain Council and Philanthropic industry expert
Eyal Herzog
Eyal Herzog
Crypto-economics Advisor
Founder at Bancor