1. **Protection from Fraud** Verification shields both investors/users and the Bitcoin ecosystem from fraudulent schemes. By confirming identities and conducting thorough checks, the ecosystem can promptly identify and prevent fake investors or malicious entities from engaging in scams, illegal transactions, or deceptive activities.
It sounds like a fiat system. If fiat users whose names and data are kept in banks and countries can be scammed, it means the system is not good enough. Then why do we have to apply the same bad system?
6. **Seamless Onboarding and Access** Verification is integral to the onboarding of investors into the Bitcoin ecosystem. It ensures that only eligible and credible individuals or entities can partake in Bitcoin transactions and access investment opportunities. This preserves the integrity of the ecosystem and prevents unauthorized or fraudulent entities from infiltrating.
It's like taking away people's freedom, especially to use Bitcoin.