Re: [ANN] Pundi X - Any store can buy, sell and accept Cryptocurrency
Pundy x announced that on July 21 all XWallet users should go through a KYC check, they wrote more about this on the blog
https://medium.com/pundix/compliance-kyc-on-xwallet-e20d45283d19
https://medium.com/pundix/compliance-kyc-on-xwallet-e20d45283d19
That sucks! Completing KYC just to use to the wallet? but I thought XWallet was a decentralized wallet wouldn't it become centralized if they start doing KYC?
The good thing is that they are allowing us till 21st July to withdraw the funds if you don't want to do KYC.
When governments are allowed to rule over us, we can never progress forward. KYC is another government hindrance from Crypto achieving more wide-spread adoption, and against the basic principles of cryptography, that is supposed to allow for PRIVACY in the transactions that are transacted over the network.
Shame
I think we would not have the widespread adoption without the support of the government, I understand that we are looking for complete privacy in using crypto and supporting it, but reality speaks, things will not progress without KYC.
We can either choose, no KYC or privacy but bitcoin and crypto will be stagnant, or the government would regulate, require us KYC and we will see more businesses to adopt with crypto. The thing is, when there's an endorsement or support by the government, that's when people are confident on investing or using it.