The only acceptable replacement for the identification procedure can be face-only identification, i.e. video identification.
The system remembers or draws your face, however, difficulties may arise with similar people.
The retinal scan can also become a replacement in the future, the best thing is the disclosure of personal data during passage.
Topic: Have you any new ideas to replace the KYC? (Read 727 times)
The only acceptable replacement for the identification procedure can be face-only identification, i.e. video identification.
The system remembers or draws your face, however, difficulties may arise with similar people.
The retinal scan can also become a replacement in the future, the best thing is the disclosure of personal data during passage.
that will always need the KYC implication. remember Face identification just to make sure if you are the same person with the documents that you have already provided to the team. It will never work to implement face identification only. The exchange site needs your face as a requirement to know your identity through your document The system remembers or draws your face, however, difficulties may arise with similar people.
The retinal scan can also become a replacement in the future, the best thing is the disclosure of personal data during passage.
The only acceptable replacement for the identification procedure can be face-only identification, i.e. video identification.
The system remembers or draws your face, however, difficulties may arise with similar people.
The retinal scan can also become a replacement in the future, the best thing is the disclosure of personal data during passage.
The system remembers or draws your face, however, difficulties may arise with similar people.
The retinal scan can also become a replacement in the future, the best thing is the disclosure of personal data during passage.
There is a FATF decision of June 21 this year, which stipulates that KYC can only be applied if the transaction is worth more than one thousand euros. Such a decision is mandatory for more than two hundred states, and these states are obliged to introduce this decision into their national legislation within one year. This applies to investors in ICOs and IEOs. For participants in ICO bounty campaigns, the question of passing KYC is still open, since we do not invest our money, and in this case, passing KYC is simply meaningless and contradicts its objectives. It seems to me that you just need to implement the FATF solution.
There's not really much that can substitute for a KYC accept a common digital identity of some sort that becomes an industry standard, but there isn't anything like that yet, but as the need for compliance grows there may soon be some sort of common standard adopted by startups and exchange
Why is everybody so scared about KYC process? None of us is James Bond who needs to hide his identity, it is a very simple process of doing a picture with your ID, nothing more. Besides I can hardly imagine something that can replace this process.
I really don't like KYC, if there's a replacement and it will not compromised our identity, I'd like to see how we are going to do that, but as long as the site, where it's asking a KYC is legit and will not sell your identity in the black market, then I'm ok with you, I'm ok doing sending my passport and my selfie, and so far I have done it in the top projects and exchanges that I invest and trade.It's also one of the safest and secure way to recover your account in case of a hack.
The crypto market is decentralized, we live here as anonymous and free and we love it! But this KYC process is killing the anonymity of crypto! To invest in a good IEO you need to verify KYC, to do a good bounty project, you will have to go through KYC! But why? You guys are doing nothing with our KYC, then why you keep asking our identity? A selfie by holding my ID card, wtf! Did we ever ask you to verify your KYC when you launch a project/bounty? Why you are not coming with another option where a freedom crypto member doesn't need to show his face?
Ok, guys, now my question to you, Have you any idea what can be good to replace the KYC method?
Crypto currencies were decentralized but market is not since it is filled with centralized services and platforms like exchanges,gambling sites,which were owned by someone.They are asking KYC for reasons like to avoid criminals from getting advantage of their project,laws of their jurisdiction made it as mandatory.I really don't think it is mandatory to know who are using cryptos when its decentralized so avoid those projects from investing. Ok, guys, now my question to you, Have you any idea what can be good to replace the KYC method?
Why is everybody so scared about KYC process? None of us is James Bond who needs to hide his identity, it is a very simple process of doing a picture with your ID, nothing more. Besides I can hardly imagine something that can replace this process.
I'm against the KYC procedure,it doesn't solve the problems of scam. There are many ways to abuse personal data. And if there are sellers of personal information, then there are buyers. And not the fact that the KYC is provided by real particular participant, and not for the other. I think an alternative to the KYC would be Individual Taxpayer Identification Number
It seems to me that we can hardly replace something KYC. As much as we would like it, but in most cases we will have to deal with it. If you do not want to go through this procedure, then you can simply not participate in the bounties that require KYC, and use decentralized exchanges instead of centralized ones.
Every human has got a unique finger print, and this can be used as a verification. Almost every country have the finger print of every human in their data center. When we are supposed to do KYC we can just scan our finger prints. If some issue has been caused by that particular person the details can be gathered from the data center of the government with the fingerprint. Every government won't agree to provide information, but this way it is possible to eliminate KYC.
Yes, quite an interesting idea,but let's just say not everyone has a smartphone with fingerprint support.And applications corresponding to such requirements I have not seen.Perhaps in time this is exactly the procedure KYC will be.
Not that I know of any alternate approach for KYC. However KYC is good for large extent. This would definitely avoid large chunk of scammers away from the crypto field.
KYC is actually a way to avoid fraud and to protect yourself from fake accounts, with KYC you can easily recover if one day you cannot access your own account.
In my opinion KYC is not something that needs to be debated too seriously, they just want to avoid washing and comply with existing regulations.
I think it is the best way to avoid some users that have a fake account of have multiple accounts because there are lots of people joining their multiple accounts in the same project. It is actually unfair because they are taking advantage of it. It is the best way for a project to recognize who is making money with their multiple accounts. I don't know how they track that maybe in the IP address or what but it is awesome, making transaction fair for those who do their tasks well like me. With this KYC, the project can know the people they are giving rewards or accessing their system. In my opinion KYC is not something that needs to be debated too seriously, they just want to avoid washing and comply with existing regulations.
because if someone's identity is given to someone else that we don't know is used to harm those who have an identity, is this not a new problem anymore?
You have made a very salient point here because if someone's identity is used to perpetrate an illegal act, the identity owner will bear the brunt and we have seen how devastating it turns out to be when vital and sensitive information of individuals fall in the wrong hands. Part of my fears, for instance, someone might use another person's identity to commit crime without the person knowing, you might now want to travel and get arrested at the airport for example, maybe your name already on a wanted list for a crime you are unaware of and as such exonerating oneself will be difficult. Maybe another method should be deployed which i can't really fathom out now.
I think the Know Your Customer(KYC) concept has somehow defeated the anonymity being talked about in the crypto ecosystem because it exposes sensitive details of users/participants. unfortunately, most projects always use it as a criterion before one can participate in the IEOs/ICOs though the days of ICOs are gone. In terms of bounty, it's been used to fish out some cheaters and allow fair participation of other hunters. The part that annoys me the most is holding your ID with your face showing also writing date on such piece of paper. I do not see KYC replacement in the offing for now
KYC is actually a way to avoid fraud and to protect yourself from fake accounts, with KYC you can easily recover if one day you cannot access your own account.
In my opinion KYC is not something that needs to be debated too seriously, they just want to avoid washing and comply with existing regulations.
I think it is the best way to avoid some users that have a fake account of have multiple accounts because there are lots of people joining their multiple accounts in the same project. It is actually unfair because they are taking advantage of it. It is the best way for a project to recognize who is making money with their multiple accounts. I don't know how they track that maybe in the IP address or what but it is awesome, making transaction fair for those who do their tasks well like me. With this KYC, the project can know the people they are giving rewards or accessing their system. In my opinion KYC is not something that needs to be debated too seriously, they just want to avoid washing and comply with existing regulations.
because if someone's identity is given to someone else that we don't know is used to harm those who have an identity, is this not a new problem anymore?
Personally I do not like the idea of doing KYC for bounties since doing bounty doesn't really entail one must invest. Funny enough some bounties which paid off very well didn't require KYC, and for some after going through KYC process, the end reward won't worth it. Well, it's always stated if KYC is required for any bounty, hence it's optional to do it or not. Talking about something that can replace KYC, it depends on the intention of asking hunters for KYC. If it's for official matters, I have no idea what can replace it. If it's to reduce bounty cheats, a proof of authentication will do.
The crypto market is decentralized, we live here as anonymous and free and we love it! But this KYC process is killing the anonymity of crypto! To invest in a good IEO you need to verify KYC, to do a good bounty project, you will have to go through KYC! But why? You guys are doing nothing with our KYC, then why you keep asking our identity? A selfie by holding my ID card, wtf! Did we ever ask you to verify your KYC when you launch a project/bounty? Why you are not coming with another option where a freedom crypto member doesn't need to show his face?
Ok, guys, now my question to you, Have you any idea what can be good to replace the KYC method?
Are we really anonymous? Do you visit this site in TOR browser on a public computer? Do you use only privacy coins such as Monero for payments? Ok, guys, now my question to you, Have you any idea what can be good to replace the KYC method?
Only people that are not educated in the security believe that they are anonymous, but, if someone wants to reveal your identity, he will do it even if you are good in hiding on the Internet.
In my opinion, there may be many new ideas to replace KYC. But we need to choose carefully and not be subjective about harm when replaced. Especially there should be safety measures.
KYC is actually a way to avoid fraud and to protect yourself from fake accounts, with KYC you can easily recover if one day you cannot access your own account.
In my opinion KYC is not something that needs to be debated too seriously, they just want to avoid washing and comply with existing regulations.
I think it is the best way to avoid some users that have a fake account of have multiple accounts because there are lots of people joining their multiple accounts in the same project. It is actually unfair because they are taking advantage of it. It is the best way for a project to recognize who is making money with their multiple accounts. I don't know how they track that maybe in the IP address or what but it is awesome, making transaction fair for those who do their tasks well like me. With this KYC, the project can know the people they are giving rewards or accessing their system. In my opinion KYC is not something that needs to be debated too seriously, they just want to avoid washing and comply with existing regulations.
Every human has got a unique finger print, and this can be used as a verification. Almost every country have the finger print of every human in their data center. When we are supposed to do KYC we can just scan our finger prints. If some issue has been caused by that particular person the details can be gathered from the data center of the government with the fingerprint. Every government won't agree to provide information, but this way it is possible to eliminate KYC.
Fingerprints and even DNA impulses are even more dangerous than previous KYC models.if it is legal and guaranteed by the local government then it's not a problem, but dangerous to use in global business, especially if it's only for IEO. the time has come for the government to work together to directly monitor the data ieo on the exchange organizer, at the moment I do not see that it is valid. If indeed the two parties have collaborated with each other, in fact KYC only needs a bank identity, to then be subject to tax and necessary matters.
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