I sincere think that KYC is needed; in other to reduce financial fraud and money laundering....thanks for the idea of KYC in my own humber opinion it has really help in monitoring the movement of financial...just that am in total support for the need for ICOs platforms to collect less data as possible but must be accurate and containing some key details incase of subsequent cases of fraud...more than a regulatory requirement, the KYC has become an essential component of the customer experience. The digitization of company / customer exchanges requires that customers be given an easy and fast accreditation or identification experience. At the same time, the reinforcement of identification rules forces the company to manage and control an increasing number of channels, making the customer journey more complex. Solving this equation is therefore strategic!
For the end customer, this procedural burden of collecting and processing identification documents can be perceived as a real challenge, which can lead to a reduction in satisfaction associated with the complexity and length of registration which could lead to abandonment.
For the company, this abandonment is catastrophic: the identification becomes a position of costs, consumer of human resources, in constant growth.
On the basis of this finding, the outsourcing of KYC to specialized providers deserves to be examined - but i think is ok!!