Quote from: o_e_l_e_o on Today at 08:06:12 AM

Quote from: Shiftal on May 08, 2020, 08:06:22 AM

Reply 2 : Well understood, the thing is, we do not share customer information with government unless there is a risk of money laundering for a specific transaction/user account.

As I suspected. You've gone from "peer-to-peer", to "we don't share your information with the government", to "we collect KYC via a third party", to "we share your details with the government if they ask for it". This is no better than any other centralized exchange in terms of privacy.

Quote from: Shiftal on May 08, 2020, 08:06:22 AM

Shiftal has access to the crypto funds as we provide an escrow service.

How can you claim your exchange is peer-to-peer if you have access to everyone's coins? That's the very definition of being centralized.

Hello, Thank you for your response. I think there is a confusion, i will try to clarify both questions/statements in one go.

Reply: We are a Peer to Peer exchange, but NOT decentralized. That means we do have access to customer wallet and crypto funds as we have an escrow system to keep buyer/seller safe from fraud and unnecessary time consuming disputes.

Regarding KYC, to make the process hassle free and fully automatic, we collect KYC via a third party (to make onboarding hassle free and instant), yes, But there is a specific limit for which you can trade (buy/sell btc/eth) before providing your KYC information (you can see the limit on may 14th).

Regarding sharing information - we are a regulated exchange, but we are only obligated to report specific suspicious transaction/user that we know is connected to money laundering or terrorist financing. In this case we will only be reporting specific transaction/user data when asked but NOT the whole database of the exchange. So legitimate users do not have to worry about their privacy.

Also in future we have plans to launch Shiftal DEX P2P which would be fully decentralized (where user hold the crypto funds as well), also after USP's release Shiftal would be targeting margin/futures trading and specific centralized trading pairs which would be country specific.

Hope this answers your questions.
Feel free to ask anymore question that you may have.
Regards