# Trunomi joins forces with Shyft Network to to launch fully interoperable Global e-ID framework and power Global ID and KYC Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-06-02 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Trunomi and Shyft Official Partnership for Global E-ID Meta Description: Trunomi, the leading consent framework, teams up with Shyft to launch innovative e-ID network in Bermuda and global markets, ensuring regulatory compliance. URL: https://financedigest.com/trunomi-joins-forces-with-shyft-network-to-to-launch-fully-interoperable-global-e-id-framework-and-power-global-id-and-kychtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd020618-1-3-1736842676289-compressed.jpg) _Trunomi data rights management solution enters partnership with Shyft Network_ Amsterdam, the Netherlands — [Trunomi](http://www.trunomi.com/), the industry’s leading consent framework and data rights management solution, today announces its official partnership with [Shyft](https://www.shyft.network/), a comprehensive blockchain-based digital ID solution for Know Your Customer (KYC) and Anti Money Laundering (AML) compliance. Together, they plan to leverage Shyft’s blockchain technology with Trunomi’s expertise in consumer consent frameworks to implement an innovative e-ID (electronic ID) network, which will initially be launched in Bermuda and then expanded to a growing list of nation states and Fortune 500 companies who are signing up to join the network. At the recent signing ceremony for the joint venture, the Premier of Bermuda, the Hon. E. David Burt, JP, MP has said, “The Government of Bermuda has decided to lead the way and build interoperability into the government legislation, in essence, approach [regulatory frameworks](https://www.financedigest.com/how-to-navigate-multiple-data-privacy-regulatory-frameworks.html "How to navigate multiple data privacy regulatory frameworks") with exportability in mind. This is our Bermuda jurisdiction as a service, the high level of exportability ‘stack’ that includes technology, regulation, process and protocols”. The Government has proven this to the market already by passing comprehensive ICO and [Digital Assets](https://www.financedigest.com/how-financial-services-organisations-can-address-the-vulnerability-lag-and-safeguard-their-most-important-digital-assets.html "How financial services organisations can address the ‘Vulnerability Lag’ and safeguard their most important digital assets") regulations which, when combined with the new comprehensive digital ID framework, will ensure a world-class bedrock for global interoperability and regulatory efficiency. This fully interoperable e-ID framework will [enable companies](https://www.financedigest.com/game-company-roblox-enabled-girls-sexual-exploitation-lawsuit-claims.html "Game company Roblox enabled girl’s sexual exploitation, lawsuit claims") and individuals to conduct business globally and empower individuals to share personal data cross-border more easily, while adhering to the strictest KYC/AML and Anti-Terrorist Financing (ATF) compliance rules and procedures. Trunomi provides consent and data rights [management technologies that allow data privacy compliant sharing of personal data and identity](https://www.financedigest.com/how-to-manage-identity-in-a-hybrid-cloud-environment.html "How to manage identity in a hybrid cloud environment") information between businesses and their customers enabling them to request, record and immutably prove customer consent to the use of their personal data. At Trunomi’s core is an advanced [distributed ledger](https://www.financedigest.com/how-distributed-ledger-technologies-are-transforming-esg-reporting-for-financial-intermediaries.html "How Distributed Ledger Technologies are transforming ESG reporting for Financial Intermediaries") that captures consent in real time, generating auditable and immutable consent receipts (TruCerts™), that allow data rights to be integrated across enterprise systems using the Trunomi Data Rights building blocks (APIs). TruCerts™ can be shared or made accessible between customers, exchanges, regulators and digital businesses to complete critical data sharing tasks such as [customer account](https://www.financedigest.com/covid-19-has-made-your-customer-accounts-more-valuable.html "Covid-19 has made your customer accounts more valuable") opening, onboarding, KYC/AML, data sharing all in compliance with the strictest global regulations, including the recently enforced E.U. General [Data Protection](https://www.financedigest.com/how-financial-organisations-can-stay-protected-from-financial-data-breaches.html "How Financial Organisations can Stay Protected from Financial Data Breaches ") Regulation (GDPR). Trunomi’s immutable consent framework and data rights management technology is an integral part of our global ID and KYC vision by enabling privacy by design, and proving accountability in data use and full transparency and interoperability across multiple markets and systems,” Bruce Silcoff, [CEO of Shyft says](https://www.financedigest.com/hungarys-otp-bank-pressured-by-ukraine-to-sell-russian-unit-ceo-says.html "Hungary’s OTP Bank “pressured” by Ukraine to sell Russian unit, CEO says"). “Global [data](https://www.financedigest.com/hot-u-s-inflation-data-reignites-global-selloff.html "Hot U.S. inflation data reignites global selloff") privacy laws now firmly put the customer in control of the relationship and ultimately their own data and identity, which can only be shared with the consent of the consumer, for a specific purpose and they need to be able to easily revoke this consent. Trunomi is capturing, tracking, proving and [sharing these data](https://www.financedigest.com/chipmakers-weigh-on-european-shares-focus-on-u-s-jobs-data.html "Chipmakers weigh on European shares; focus on U.S. jobs data") permissions to all parties and providing real time tools to adjust these rights. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---