Re: [ANN][NET] - The Browser Based Blockchain - Main net December - Liqui
Calling people 'idiots,' altcoiner555? Thanks for that!
There are, I feel, a range of questions that the devs should be here answering right now.
There are, I feel, a range of questions that the devs should be here answering right now.
Please go ahead and ask them
Firstly, what documents and information constitute 'KYC'? When Bittrex launched an enhanced-verification project last year, they arrogantly assumed that their KYC processes encompassed every national-postal-address system on the planet. As a consequence, I experienced days of drama -- locked out of my account.
If 'KYC' remains a set of unknown documents/information, then where do I stand? Do I hold on to my tokens until the conversion begins, only to find that I am simply unable to 'KYC'?
Secondly, check the latest Vlog. A Nimiq team member is seen making little electronic hats for little electronic heads. Meanwhile, both this thread and the Reddit have token holders expressing concerns about losing their holdings -- ??
Decentralization and KYC and non related matters. A centralized network can use KYC at some point in its evolution and this doesn't mean it has any of the flaws or disadvantages of the centralized economy.
Your reply, nimiq, is polite. Thank you for that. But my concern remains: conversion approaches. You can't tell me what the KYC will involve. And I don't think the dev team has handled the issue at all well.
'Decentralization and KYC [are] non related matters.' I'd like to go on the record: I agree with salary123: large numbers of people handing over data -- which we can only assume is being stored, and perhaps made available to government agencies -- may reasonably be seen as an instance of 'centralisation.'
The KYC process is defined by the KYC provider, which we are still defining. Our job is to make KYC-NIM relation as safe and easy to follow as possible, but the KYC process itself is not something we can change.
We understand the frustration that was created by the KYC requirement. Probably you have been following Nimiq for some time now and you got to know us well enough to know that this legal requirement was a very bitter pill for us to swallow. Wed strongly prefer to save you this hassle, but we have to be compliant with money laundering laws to build a clean legal foundation for the future of Nimiq.
By nature we care a lot about our community members privacy. Our third-party provider will act under the very strict EU/Swiss privacy laws, which means itd be a crime to store, duplicate or even sell your data.
What about hacks?
And here's some insight into what 'KYC' might include: 'it is now commonplace for an individual to have to submit a passport scan, bank statement, and various other documents and to answer a string of questions about their background and the origin of their cryptocurrency. Legolas, for example, requested that investors Provide as much detail as possible about the origin of the BTC.'
https://news.bitcoin.com/kyc-requirements-are-making-icos-riskier-not-safer/
In one end we are working with renowned KYC providers who follow the strictest security policies, and on the other, we have top cryptographers in our team, a security expert working with us as our internal auditor and a third-party auditor looking at our code. So is safe to say we care a lot about security. Regarding the information, we are still defining details with our KYC provider but for now I can comment that we are only going to ask personal information about the user. No weird questions or background information.