By knowing who their customers are, companies can help prevent crimes such as money laundering, bribery and corruption, fraud, identity theft and terrorism. KYC is designed to filter out those individuals with no real interest in the ICO and only care about laundering their money so that it is hard to trace its true origins. Due to technological advancements recently, the KYC process can take less than 1 hour to verify a person’s identity. We are all part of the crypto community, so 1 hour should not deter us from wanting to make the crypto and ICO space a safe place for all. Despite KYC being a very useful process as explained above, it can can cause more harm than good especially to customers who give out their information. It all depends on the intentions of the company. You can read more about it here https://medium.com/@XIF_Official/the-importance-of-kyc-in-the-crypto-world-a40ff02b8d57.