Shyft Network
Crypto Overview
Purpose and Utility
Shyft Network is a public blockchain protocol designed to aggregate and embed trust, validation, and discoverability into data stored on public and private ecosystems. Its primary purpose is to provide a decentralized network for digital identity and credential verification while maintaining compliance with global regulatory standards.
Business Model
The SHFT token serves as the network's native currency, used for governance, staking, and paying for network services. The business model focuses on providing infrastructure for digital identity management and KYC/AML compliance solutions, which aligns with Islamic principles of transparency and ethical business practices.
Real-World Adoption
The project has established partnerships with various institutions and companies in the digital identity and compliance space. However, current usage metrics and adoption rates remain relatively modest compared to its ambitious goals.
Platform Development
The development team maintains regular updates to the protocol, with ongoing improvements to its core infrastructure. The GitHub repository shows consistent activity, indicating active development of the platform.
Token Distribution
Token distribution includes allocations for team members, development, and community initiatives. The project implements vesting schedules for team tokens, which helps align long-term interests with the project's success.
Crypto Impact
To assign a comfort level investing in Shyft Network from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Shyft Network.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.