Quote from: jackbit on May 15, 2018, 06:43:29 PM

Quote from: GoldenRays on May 15, 2018, 04:35:04 PM

Quote from: Joemzz31 on May 11, 2018, 04:07:32 AM

So based on what it is written in the white paper of the xbricks project is that they want to "tightened" the identity or the identification,
so mean to say that there's already a solution to the problem in te as ms of scamming because if this will be tightened therefore the scammers will be lessen

It is possible that scamming will be lessened since scammers might get discouraged and decide to not join cryptocurrency exchanges that involve KYC before accepting a user but it doesn't mean that it would be impossible. I think for now the project can only guarantee fast and secure trading but it cannot guarantee scammers not joining the system since KYC doesn't actually involve submitting criminal records.

Looking at the situation as a whole, i think the KYC is strictly related to the government's taxation.

You see, with anonymity in place, who would be taxed? No single government can't tax a John Doe.

But with KYC in effect, the government could easily pin down people generating great revenues within the crypto economy and tax them accordingly.

We all know how the Crypto community feels about this, but this is a phase none of us could ever escape if we want the longevity of the cryptocurrency.

I'd say it is inevitable for KYCs to happen to lessen the government's uproar against the cryptoeconomy.

KYC will stay for a short period of time. Governments will realize this if majority of people don't want tax. well cryptocurrency won't go and it will stay longer as this is a making money machine. Crypto community in space wants independent and among of them are liberalism.