Another area that needs a close look is the way that KYC is conducted in ICO/ITO offerings. In my view, the risk of giving out your information to some project on the Internet is just as high, if not higher, than the risk of losing funds from the venture. Identities can be stolen, either by a hack or by malicious ICO projects. This is something that the industry could establish a decentralized solution that would balance the legal requirements with practical requirements of the crypto model. These rules were written for banks, and while there is some overlap, there is also a different set of considerations that need to be taken into account when dealing with decentralized entities.
I think you just came up with the BILLION DOLLAR IDEA right here!
Whereas now, I am compelled to call out an object example of just how we get so much bad code, causing so many losses:
I'm being dead serious here but one of the reasons I keep coming back to this board is for experts such as yourself, HeRetiK and BenOnceAgain (hey just noticed the little rhyming pattern)
Have you thought of doing an advanced course that teaches best practices? Why not monetize your knowledge and expertise and simultaneously benefit the community to have better standards and protocols?