I think there is a need of an intermediary. A trusted intermediary which should receive the KYC of the applicants on the behalf of companies, verifies them and send the results to concerned company. I think there are already few websites providing this service but adopting them as intermediary is not a common practice among companies.
Such intermediary should work two-way, verifying applicants KYC one way and verifying the genuineness of company the other way. Everyone will be in win-win situation.
We used to have escrow that hold funds for projects but I only participated in a couple of them.
So, what does KYC mean? I always hated that thing, mostly because I feelt it is an unnecesary leak of information.
With these times and all the shitcoin scams and real waste of time and money I came to the resolution that we need a new meaning for KYC.
Know Your CEO.
The best way we could prevent or atleast act in the case (most certain) of one of any new project being a scam is selecting a number of trusted users of the community to verify the "Team" of any coin just the same way we are verified in most sites.
Since most of the new coins claim the "Team" is the people shown in the pictures they shouldn't mind verifying it to this peculiar non snitch trustworthy gathering of users.
In the case a project is to be compared to bitcoin or ethereum and the team crave anonimity you shouldn't need an ICO or could provide code before launching and provide a service.
Any ideas? Would anyone actualy ask for this before investing? and keep the word and not invest without the check?
I think it is more than a fair price for trusting someone with perhaps thousands of bitcoins.
What's interesting is that projects that promise to create a decentralized platform are in demand for KYC. They're breaking down their own rules when they're at the beginning yet.
Sometimes parteneriates request such thing and is the way to take if you want to develop a legit business.
So, what does KYC mean? I always hated that thing, mostly because I feelt it is an unnecesary leak of information.
KYC/AML is really needed especially if you are starting a company that offers innovation and if you want to improve your services and if you want to have a solid statics and data system. You said that you need to know the CEO of the company before letting them know your personal information but it's not the thing you have to base. You have to know the whole team and what they really do. If you really wanted to try to invest with them then you have to try your best to reach them and talk with them verbally.
OP, please check this the remediation of having KYC/AML. :
https://complyadvantage.com/knowledgebase/kyc/kyc-remediation/What I mean is the same but from the perspective of the community to prevent and be able to recognize and localize the subject in case of scam.