Oasis Protocol Adds Shyft Network in Bid to Attract Institutions to DeFi

Oasis Protocol Adds Shyft Network in Bid to Attract Institutions to DeFi


The Oasis Protocol, a public blockchain with an eye on creating a more private and scalable version of decentralized finance (DeFi), has partnered with the compliance-focused Shyft Network.

Announced Thursday, the partnership will deliver anti-money laundering (AML) strictures by leveraging elements of Shyft’s identity system and whitelisting of items/IP addresses, while also protecting users’ commercial and transactional data. There’s also a line to be walked on making DeFi compliant with the General Data Protection Regulation (GDPR), the companies said. 

Oasis Labs, creator of Oasis Protocol, raised some $45 million in a private token pre-sale in 2018, backed by Andreessen Horowitz, Binance, Pantera and others.

The Oasis mainnet, which went live in November, is a layer one blockchain that sets out to do the same sort of things as Ethereum, albeit in a way that is potentially more scalable. It also allows developers to run smart contracts that keep data private while allowing for

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