Quote from: Mauser on Today at 07:50:48 AM

Quote from: Outhue on December 09, 2022, 08:51:18 AM

Is web 3 a misunderstanding word for some gambling crypto projects? I've come across few gambling / crypto projects that claimed to be a web 3.0 online casino and other but they still ask for KYC.

The definition of web 3.0 had everything to do with decentralization, block chain technology and token based economics as per what Wikipedia illustrated so why is identity/ verification integrated?

Is this just a misunderstanding of what web 3 actually is? Or it's a way to attract people/users to make them think that their platform is more advanced?.

It's true that it sounds a bit counterintuitive to have blockchain based, decentralised casinos that require us to complete a KYC process. We have learned over the years to stay as anonymous as possible in the internet and don't real too many personal information. The number of scammer and phishing websites increased a lot in the last 5 years, this could also be linked to the increase in crypto prices which makes it much easier to shift around stolen money. The main thing for casinos to require KYC is to prevent money laundering in larger scales to not attract the attention of the government. If a lot of criminals would be using online casino to try and launder their money then the government could step in and ban gambling all together. Therefore some form of regulation is necessary to show the good will of the gambling industry. I noticed that KYC is mostly required when you are dealing in large amounts of money, some casinos only require additional information when withdrawing more than 1,500 - 2,500 USD, which seems like a good compromise to me.

I agree with your point of view, It's true that in recent years there have been several cases of laundering stolen money through online casinos or crypto assets.
So don't be surprised if casino sites require conditions to make KYC.
Parties from the casino also do not want to be involved and be harmed in any form by the laundering of stolen money carried out by irresponsible persons.