Wyre Partners With Zeppelin to Make On-Chain Compliance a Reality

Wyre will be the first Validator on Zeppelin’s Transaction Permission Layer

Wyre
Wyre Blog
Published in
3 min readMay 23, 2019

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At Wyre, we’re on a mission to help lower the barriers to entry for FinTech entrepreneurs by offering them compliant ports into a regulated fiat world.

tl;dr —We‘re collaborating with Zeppelin to make our On-Chain Verification compliance token into the first digital jurisdiction in Zeppelin’s Transaction Permission Layer (TPL) and Wyre will be the first Validator!

Zeppelin shares a common goal with us, to allow teams to get to market quickly and safely. It’s common knowledge that Zeppelin has set the standards in the community as a leader of smart contract architecture and security. Their libraries and tools have powered, collected, and secured billions of dollars for crypto projects.

💭 What is it?

ELI5 — Boom-Beach. Completing in-game tasks to unlock achievements is no different to obtaining attributes to join jurisdictions. In fact, TPL’s design could already work for this example.

Similar to how a smart contract defines the rules and archetype of a token, TPL does the same for individual Ethereum addresses. TPL is a broad term for the ecosystem and in this ecosystem, teams can set their own rules via a jurisdiction. Validators, such as Wyre, act as a resource to ensure whether participants are compliant with the rules of the jurisdiction.

A simplified example. Twitter has normal accounts, and then special ones with blue tick marks. Two jurisdictions.
Those confirming those attributes reaches the Verified AML/KYC Jurisdiction for that end user — Businesses can confirm their business attributes to reach the Licensed MSB Jurisdiction for them.

💡Why is it helpful?

The ecosystem is largely orientated around value transfer. That starts crossing over into finance (“FinTech”) quickly, which is a heavily regulated space. Unlike social-media where you can build the product and ship the next day, FinTech requires certain regulatory compliance, that varies from vertical to vertical.

Now, projects will be able to utilize the YES compliance token and TPL to quickly map compliant users. TPL will use the public list of YES Token addresses to build a digital jurisdiction that identifies addresses which have been validated.

We are thrilled to be the first validator on TPL and look forward to seeing how teams leverage this awesome tech. Working with TPL for a first version is genuinely just the beginning.

If your team is interested in using TPL, let us know or get in touch with them through their site, or check them out on Github! Awesome team, doing great work for the ecosystem.

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Published in Wyre Blog

Helping the crypto world interact with the fiat world.

Written by Wyre

The leading infrastructure provider in crypto. Powering teams from the start. We want to #buidl with you.

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