Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP, use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.
I know a lot of people are going to say that KYC is bad cause it defies the purpose as to which cryptocurrency was meant for; Privacy. But trust me, I believe that most of these ICOs that dont request for KYC are scam. And that comes with another risk that we are going to face which is giving out information to the wrong hands. Thats why its really good to mind the ICO youre investing, so you dont give your information to scammers who would sell it in the dark web.