Covalent Announces Partnership with Shyft Network
VANCOUVER, November 4th, 2020 - Covalent is delighted to announce that we are partnering with Shyft Network, a blockchain public protocol that allows encrypted, attested and secure data transfers while enabling anyone to develop applications and infrastructure for global citizenship, trusted data and regulatory-compliant privacy.
Shyft Network’s solution can be thought of as a Web 2.0 and 3.0 O-Auth2-type interface with 2FA applications. Shyft Network allows for encrypted, attested, and secure data transfers between those who own data (Data Owners), those who hold data (Data Custodians, or Trust Anchors), and those who request data (Data Consumers). Shyft Network’s goal is to minimize entities that have custody over user data by providing an attestation framework that enables data validation and presents optionality around data availability and sharing. By integrating with Covalent, Shyft Network will now have an additional data source that will validate the actions of wallets to ensure they are not used for illegal purposes, like money laundering, or any other suspicious activities. This is enabled through Covalent’s ability to provide granular, historical per wallet data. Ultimately, this partnership will enhance the reliability of the Shyft Network, and compliment the institutional DeFi offering that Shyft is bringing to the market.
Quote from Ganesh, Covalent’s CEO
Quote from Juan Aja Aguinaco, Co-Founder of Shyft Network
About Shyft Network
Shyft Network is a public protocol designed to aggregate and embed trust and validation into data stored on public and private ecosystems, and facilitate information transfer between permissioned and permissionless networks. By incentivizing individuals and enterprises to work together, Shyft Network allows for the layering of context on top of data, turning raw data into meaningful information. To learn more, visit www.shyft.network.
Covalent provides a unified API to bring full transparency and visibility to assets across all blockchain networks. Covalent’s proprietary technology enables a “no-code” solution that solves a vast array of use-cases for wallets, exchanges, custodians and taxation amongst others. The API allows easy access to data that is normalized, unified and granular.