Shyft Network is a public blockchain protocol designed to aggregate, verify, and validate data stored within both private and public ecosystems, as well as permissioned and permissionless networks. By bridging siloed datasets, Shyft transforms raw data into meaningful information. This process enhances trust in the data and establishes a reliable transaction framework for industry and public sector economic activities. The developers behind the project aim to create a secure and user-friendly platform for KYC/AML identification and user certification, ensuring data safety and reducing storage costs while boosting efficiency through blockchain technology. Shyft encourages its clients to enhance data with context, thereby forming genuine digital structures of reputation, identity, and creditworthiness. Shyft Network develops regulatory-compliant tools for decentralized finance (DeFi), bridging the divide between centralized and decentralized organizations, thereby facilitating their entry into the blockchain ecosystem. The platform aspires to assist mainstream financial institutions in engaging with DeFi in a compliant manner, potentially attracting significant capital inflows and millions of users from mainstream markets into the crypto space. Veriscope is Shyft's blockchain-based compliance framework and smart contract solution tailored for virtual asset service providers (VASPs), including crypto exchanges, non-custodial wallets, and brokerage firms. This framework is geared towards compliance with the Financial Action Task Force (FATF) Travel Rule, an intergovernmental organization focused on combating money laundering and terrorism financing.

The company was established in 2017 in Bridgetown, Barbados, founded by a group of experienced individuals who have collectively launched successful ventures in the ecosystem since 2012. The core team of Shyft Network comprises five individuals responsible for technical development, architectural implementation, and network growth strategies. These members include Joseph Weinberg and Juan Aja Aguinaco (co-founders of Shyft Network), Chris Forrester (CTO), Kristofer Coward (Chief Scientist), and Fredrico Nassire (CSO). The vision of the Shyft team is to dissolve the barriers surrounding personal data through the use of blockchain technology. Shyft Network operates and expands in collaboration with industry leaders serving as technical and ecosystem consultants. Beyond the core team, Shyft benefits from the guidance of global consultants: Bruce Silcoff and Suzanne Ennis, who are part of the Shyft Enterprise Executive Team. They function as the sales department, establishing a trajectory for long-term partnerships and securing lucrative multi-year contracts. For more detailed information about Shyft Network, please visit Eulerpool.

The Shyft Network presents three primary use cases: compliance with the FATF Travel Rule through the Veriscope smart-contract platform; bridging decentralized finance (DeFi) and large liquidity providers via regulatory compatibility; and facilitating KYC processes for government digital identity systems in cooperation with partners such as financial institutions, healthcare providers, telecoms, and government agencies. Key features of Shyft Network include: The Shyft block explorer, which provides a comprehensive suite of tools to launch block explorers, thereby removing a potential point of failure, and enables users to view individual transactions that form part of internal transactions. Specially designed smart contracts that govern several key platform functions and facilitate KYC/AML verification processes. Shyft Safe, an accounting software built on smart contracts, which manages and protects assets by ensuring secure assets are cross-validated. This process occurs across multiple blockchains, effectively eliminating data invalidation issues.

The SHFT token is an ERC-20 standard currency associated with the Shyft protocol, introduced for the purposes of identification and data transmission. It functions as a governance mechanism to enhance coordination across various ecosystems. As a native token, SHFT powers the Shyft protocol, operating as a means of payment, a mechanism for linking value, and a tool for capturing value. Issued to support identification and data transmission, SHFT also facilitates governance and coordination between ecosystems. It is used to pay for data verification, storage services, and smart contracts. The total supply of SHFT is capped at 2,520,000,000 tokens, distributed as follows: 23.81% allocated to ecosystem development, 0.91% to public distribution, 20% to economic metagame, 5.68% to advisors, 5.48% to ongoing technical partnerships, 26.26% to purchasers, and 17.86% to the core team. An initial decentralized exchange offering (IDO) was conducted on March 26, 2021, via the Polkastarter platform. Revenue generated from the SHFT sale was directed to the DAO to provide grants for the community of developers and users within the Shyft Network, based on decentralized consensus mechanisms.

The Shyft Network platform offers users KYC verification, ensuring the security status of their personal data. This approach minimizes the risk of hacking and guarantees complete confidentiality of users' identities. By eliminating the necessity for centralized storage of KYC data, Shyft Network employs decentralized virtual profiles to protect users from hacking. While unifying the KYC procedure, the network ensures a high level of personal data protection. Shyft provides support for anyone seeking verification and protection, maintaining the integrity of the submitted KYC credentials. Shyft Network is compatible with existing applications across both the Ethereum environment and other networks. Offering blockchain interoperability, the platform leverages the strengths of various networks, enabling projects to operate seamlessly within diverse ecosystems.

As of August 2021, the primary exchanges for buying, selling, and trading Shyft Network (SHFT) are KuCoin, Gate.io, Uniswap (V2), 1inch Exchange, Bilaxy, and Jubi. The SHFT token is built on the Ethereum network, allowing it to be stored in any wallet compatible with Ethereum, such as Trust Wallet or MetaMask. For beginners, a simplified guide is available for purchasing cryptocurrencies such as BTC, ETH, and SHFT. For market news, product updates, and recent announcements, refer to Eulerpool's blog.