Quote from: yanetriwidia on May 06, 2019, 08:01:30 AM

Quote from: BennyK on May 06, 2019, 01:04:21 AM

KYC is done by most projects to comply to the government regulations. The projects are sometimes held accountable for transactions hence must be able to provide the identities of the individuals behind these transactions in order to avoid the issue of money laundering. KYC is also for verification purposes by the project in order to eliminate bot and double entries from participants.

I am more sure that KYC is for honest people that they are real people who are not people who abuse a project, I am rather annoyed to people who cheat with KYC using someone else's identity because KYC must also be detailed but must be accompanied by rewards comparable In my opinion, KYC is a double-edged sword can be profitable and can harm many people

I like your metaphor regarding KYC, it is a double edged sword which is true, if the team behind the project are also on the straight path paying people and give what they deserve they can earn from it but once the team are using those KYC to make money people is at risk.