Glossary
Explaining of terms used in this documentation.
- Stands for VerifyVASP.
- A service provider of the Travel Rules service.
- Virtual Asset Service Provider
- ex. Cryptocurrency exchanges or cryptocurrency custodies
- A verification process performed before sending virtual assets to satisfy Travel Rules
- Generally, verification is a process where the originator information is sent to the beneificary VASP, the beneficiary VASP verifies the beneficiary information entered by the originator and delivers the results.
- A person who wishes to send virtual assets
- A person who requested withdrawal from VASP
- A person who receives virtual assets
- The VASP to which an originator belongs
- aka. ordering VASP
- The VASP to which a beneficiary belongs
- A communication mediating server operated by VerifyVASP
- Every verification request performed through VerifyVASP is mediated to each VASP via VV Central Server.
- A server module to be installed in each VASP infrastructure
- A backend server module to ease VV connection. Provided by VerifyVASP.
- Vicariously proceeds detailed performances communicating with VV Central Server
- Verifying risk level of a blockchain address prior to transactions
- The risk level increases if the address is potentially involved in crimes or illegal trades.
- Like pre-screening, sanction screening is a process of pre-verification to check whether a certain user is on the sanction list.
- The sanction list is managed by each VASP.
- VASPs registered in VerifyVASP
- ID value which can identify the transaction in the blockchain after the virtual asset was performed in the actual blockchain
Last modified 7mo ago