VerifyVASP
  • Welcome
  • Change Log
  • Getting Started
    • Getting Started with VerifyVASP
    • Product Overview
    • Alliance Registration & API Key Creation
    • VASP API Functionality
    • Database
    • Enclave Installation & Execution
    • Security Guide
    • Robot VASP Utilization
    • Enclave Server API Utilization
    • Enclave Server Health Monitoring & Troubleshooting
  • Reference
    • Enclave API Reference
      • v1
        • VASP ID
        • VASP List
        • Screening API
          • Risk Assessment with Chainalysis Sanction API
          • Risk Assessment with Chainalysis KYT API
          • Risk Assessment with Refinitiv WCO API
        • User Account Verification
        • User Verification
        • Verification Result List
        • Verification Result by UUID
        • Transaction Result Report
        • Error Report
        • Transaction Status Query
    • VASP API Reference
      • User Account Verification
      • User Verification
      • Transaction Status Query
      • Callback API
      • Decrypting Database Encryption Key
    • IVMS101 Guide
      • About IVMS101 Standard
      • IVMS101 Message Format Guide
      • IVMS101 Personal Data Fields
    • Supplement
      • Network Field
      • Wallet address and transaction ID standards
    • Glossary
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On this page
  • Definitions
  • VV
  • VASP
  • Verification
  • Originator
  • Beneficiary
  • Originating VASP
  • Beneficiary VASP
  • VV Central Server
  • Enclave Server
  • Sanction Screening
  • Risk Assessment
  • Alliance
  • TxHash
  • Vout
  1. Reference

Glossary

Definitions

Explaining of terms used in this documentation.

VV

  • Stands for VerifyVASP.

  • A service provider of the Travel Rules service.

VASP

  • Virtual Asset Service Provider

  • ex. Cryptocurrency exchanges or cryptocurrency custodies

Verification

  • 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 beneficiary VASP, the beneficiary VASP verifies the beneficiary information entered by the originator and delivers the results.

Originator

  • A person who wishes to send virtual assets

  • A person who requested withdrawal from VASP

Beneficiary

  • A person who receives virtual assets

Originating VASP

  • The VASP to which an originator belongs

  • aka. ordering VASP

Beneficiary VASP

  • The VASP to which a beneficiary belongs

VV Central Server

  • A communication mediating server operated by VerifyVASP

  • Every verification request performed through VerifyVASP is mediated to each VASP via VV Central Server.

Enclave 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

Sanction Screening

  • A process of pre-verification to check whether a certain user or wallet address is on the sanction list.

Risk Assessment

  • It includes both pre-validation and post-validation, and uses information such as blockchain addresses, transactions, individuals, and entities for sending and receiving to assess the risk of a given transaction.

  • We typically use solutions from 3rd party vendors who have a lot of transaction data and fraud history data to assess risk.

Alliance

  • VASPs registered in VerifyVASP

TxHash

  • ID value which can identify the transaction in the blockchain after the virtual asset was performed in the actual blockchain

Vout

  • In cases where multiple transfers can be included in a single transaction, such as Bitcoin, an index value indicating which transfer corresponds to within a single transaction

PreviousWallet address and transaction ID standards

Last updated 1 year ago