UI/UX Design
Web Development
Technical Consulting
Figma
JavaScript
web3.js
Infura
WordPress
Web
Ethereum Blockchain
OpenVASP was launched in 2019 by Bitcoin Suisse, Lykke, Seba Bank, Sygnum, Avaloq and MME, with the support of the Crypto Valley Association (CVA) and the International Digital Asset Exchange Association (IDAXA).
The aim of OpenVASP is to help the crypto industry to comply with the travel rule set by the Financial Action Task Force (FTAF), which requires financial institutions to pass on certain information to the next financial institution for particular fund transmittals. The goal is to build an open, decentralized protocol through a SWIFT-like messaging system designed specifically for cryptocurrencies.
OpenVASP requested that Voa Labs build a website for their newly founded association. A requirement was that they could fully manage all the website content on their own in a simple way. Additionally, OpenVASP requested a feature allowing non-technical users to interact with OpenVASP smart contracts running on the Ethereum blockchain.
We built a custom WordPress theme, including a front-end component that connects to the Ethereum blockchain. Using web3.js and Infura allowed us to build a web interface that lets users interact with smart contracts that run on the Ethereum blockchain.
The lookup function allows users to enter a VASP code to find out which VASP identity it belongs to. For the lookup, the system filters through events logs on the Ethereum blockchain. If an entered code is not used, users can directly register it to establish their VASP identity in the OpenVASP network. VASP Codes are free and assigned on a first-come-first-served basis.
A form on the website allows users to interact with the Ethereum blockchain. By entering a VASP Code and a few public keys, users can register a VASP Code to establish their VASP identity in the OpenVASP network. Registering a VASP Code deploys a smart contract on the Ethereum blockchain. The created VASP contract stores the different public keys used to encrypt messages sent to the VASP and to verify messages signed by the VASP.
“Voa Labs has delivered incredible work under time pressure. Their technical knowledge, especially in the area of blockchain, is top-notch.”
"Simplifying the use of blockchain technology is a major challenge of every project that wants to make the technology accessible for non-tech users. But with OpenVASP's interface enabling interaction and smart contract deployment without programming skills, we've succeeded in making it a reality.”
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