Post
Topic
Board Legal
Re: Why I don't Support KYC in cryptocurrency as it is
by
m.roth
on 13/09/2018, 16:51:04 UTC
If an ICO wants to go more legit within the existing world and comply with certain authorities, you most certainly need to do a kyc. If you want to reach traditional investors, this is the way to go also to be tradable on upcoming security token exchanges such as Polymath GBX or tZERO. I think the development of blockchain goes quicker in finding a way between evolution and revolution, implement it in the existing world and get a bit away from the thoughts of max disruption.

Anonymity was most probably one of the core ideas of the bitcoin network, but chaos was maybe not. Imo a system needs to operate in a somehow regulated framework, there should not be any profiting third party though. I further understand the privacy concerns and fear of data abuse. This again, i think will clearly be a part of the future technology dominant world, and we need to have kind of a digital identity. Therefore, data and IT security have a huge relevance within this area where it's all about trust.