Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
yes you are right a lot of people who use KYC for criminal acts. therefore I currently avoid participating in projects that use KYC requirements. I am not willing to exchange my personal identity for a few dollars. and using KYC does not guarantee that the projects we follow are not scams. many ICO projects are scams that also ask for KYC. now I prefer to join projects that don't use KYC.
That is why I am afraid when bounty needs kyc. But I have not heard any news that uses our kyc in terrorism, no news so far. Maybe there are some people uses cryptocurrency to make its image bad. This kind of news affects the cryptocurrency world, the market always goes to dip and crashes when something like this has been aired or been posted in different social medias.