KYC flies in the face and is completely counter-productive as to what crypto-currencies are all about.
I thought the whole concept revolved sending money, peer to peer, cheaply, quickly and anonymously, anywhere in the world in one transaction rather than rely on various banking institutions who charge an arm and a leg.
They maintain that KYC is a deterrent for money Laundering. Yet these same governments, institution etc, will be the first to shout from the rafters that crypto-currencies are not money..
KYC is just another means of the few taking control over the masses
Just my opinion..
I thought the whole concept revolved sending money, peer to peer, cheaply, quickly and anonymously, anywhere in the world in one transaction rather than rely on various banking institutions who charge an arm and a leg.
They maintain that KYC is a deterrent for money Laundering. Yet these same governments, institution etc, will be the first to shout from the rafters that crypto-currencies are not money..
KYC is just another means of the few taking control over the masses
Just my opinion..
Good point. However, i could consider KYC necessary as there is a lot of Scam in the field. Why should a multiple account holder fill many submissions and in the end get the most stakes?
My point is that KYC somehow promotes Decentralization.
Maybe the way it happens is not the right process.
What about asking for a unique digital ID that has nothing to do with your personal/private documents? Both parts would be happy!
KYC is a legal obligation.
Don't forget that real ICOs are also real companies with rules to respect according to their country!
The KYC is imposed by the international banking rules we must know the customers who buy tokens.
I can understand that this whole system changed our habits a few years ago it was unthinkable because the crypto was still small but today the ICO that do not make KYC are probably scams