Harnessing cutting-edge technology, Shyft and PARSIQ are partnering to incorporate advanced innovations across various blockchains, poised to make a transformative impact. PARSIQ With this strategic collaboration, the goal is to empower individuals with ownership of their data, especially in a world increasingly dominated by blockchain systems.
Shyft Network At the same time, PARSIQ has successfully innovated a breakthrough technology that provides users with real-time notifications concerning blockchain transaction data.
Shyft will soon be enhanced with PARSIQ's Monitoring capabilities.
Read our full guide to Parsiq here .
The partnership marks a mutual effort by both companies to fortify their technological foundations.
“In the realm of decentralized finance spanning multiple chains, the verification of digital identities stands as a core structure. At PARSIQ, we're thrilled to develop alert mechanisms designed to safeguard users and their platforms. Our unique push-based system is instrumental in defending digital identities, as we can establish alerts. Should a user’s identity be compromised, we’re equipped to flag suspicious actions and relay real-time updates to both users and their platform's compliance units.”
The Shyft platform not only verifies the identity of senders but also fosters new spheres of trust economies. A case in point is Binance, the largest cryptocurrency exchange globally, which leverages Shyft Network to comply with the FAFT 'Travel Rule'—a rule compelling firms to exchange user data during digital asset transactions.
Tom Matta, from PARSIQ’s business development team, emphasized how crucial their digital identity solutions are for the blockchain sector's future trajectory:
In a recent move, Shyft Network declared its intent to serve as an “identity layer” within Polkadot’s unrestricted blockchain ecosystem.
According to Juan Aja, Co-Founder of Shyft Network, the introduction of PARSIQ’s technology into Shyft is anticipated to enrich user experiences:
“We’re exceedingly thrilled about this integration; as a network functioning without central authority, we seek vibrant and potent tools that empower our developers to expand the Shyft Network’s potentials. PARSIQ’s innovations naturally align with our identity and compliance collaborations.”
Employing 'Smart Triggers', PARSIQ handles real-time data streams directly on the blockchain and extends this data off the blockchain, crafting a bridge between both realms. In 2020, they received investment support from BinanceX. Recently, they also unveiled plans to integrate a Layer1 solution into Polkadot’s Relay Chain.
PARSIQ’s introduction of Smart Triggers marks a cornerstone achievement. This technology, facilitating instant reactions to blockchain events in real-time, allows developers to automate processes and paves countless avenues for engaging with real-world applications.
Moreover, it optimizes functionalities while simultaneously reducing expenditures.
This technology entails a public blockchain procedure uniquely designed to safeguard data integrity on both public and private digital ecosystems, delivering compliance features across all involved systems.
Shyft Network is Making Data Safer
The Shyft Network At its heart, user consent is crucial, enabling individuals to oversee how their data is used and requiring their approval for utilization of personal data.
This network empowers users to collectively add depth to data, enabling the creation of genuine frameworks for digital reputation, identity, and trustworthiness.
Spearheaded by a team of seasoned professionals with a fervor for blockchain advances.
PARSIQ Creates Connections
Aiming to be a comprehensive tool for blockchain oversight and process automation, establishing a sophisticated link between blockchain environments and external applications.
PARSIQ was created The company has forged a specialized programming language called ParsiQL, dedicated to supporting users in observing and deciphering continuous data flows within the blockchain. Hence, PARSIQ technology grants users the capability to supervise trader activities and ordinary wallet operations.
Through delivering essential solutions, PARSIQ is on a mission to propel widespread acceptance of blockchain technology, enabling all to comprehend and manipulate blockchain data streams effectively.
Nicholas Say, originally from Ann Arbor, Michigan, has traveled the world extensively. Having called Uruguay home for many years, he now resides in the Far East. His written works are widely published on the web, with a strong focus on realistic tech development and the future wave of human-centric technologies.
