Post
Topic
Board Altcoin Discussion
Re: in the future, token holders need KYC
by
Mr.Ease
on 20/09/2018, 01:39:50 UTC
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible

That would go almost completely against the idea of cryptocurrency and decentralization so I'm going to do something I don't normally do and say categorically that something won't happen. There's no KYC on fiat so why should there be on crypto.

I can't agree with that. KYC is maybe not completely compliant with idea of cryptocurrencies anonimity but it has nothing to do with decentralization and I don't see how KYC would endanger it.
Besides, cryptocurrencies also need to adjust because changes happen all the time. Increased number of scams and misuse require some action and KYC might help in part of it.
Cryptocurrencies can survive and evolve only if will keep ahead with time and requirements.

The thing is, `anonymous `  may have not been the original designer idea with cryptocurrencies but was a big factor in value during the early days... With more and more people using cryptos, anonymity may actually be holding valuations back with a modern market. ex. large corporate or retailer investments.

I think there will always be a reining "anonymous" token, Monero is a good example. But for the vast majority, crypto doesn't necessarily need it for massive consumer and worldly adoption