You are giving your information to the governments to check on you for terrorist money drugs money and what not SO why a blockchain?..
Private blockchain vs traditional centralized DB - Ethereum Stack ...
https://ethereum.stackexchange.com/.../private-blockchain-vs-traditional-centralized-d...
28 Feb 2018 - If you're not crossing the boundaries of trust, then you're always better with a traditional database.
Private blockchain vs traditional centralized DB - Ethereum Stack ...
https://ethereum.stackexchange.com/.../private-blockchain-vs-traditional-centralized-d...
28 Feb 2018 - If you're not crossing the boundaries of trust, then you're always better with a traditional database.
This is something I've been questioning for a while now, it seems that exchanges are so focused on "complying with the SEC" they forget part of the reason we use blockchains. A certain level of anonymity is required if we're ever going to become fully independent of the old system. These KYC processes are so extreme to where they need not only your ID but your current picture of you holding your ID and your proof of address. At least with traditional databases you don't have to do all this and even if you did crypto is supposed to be better than that.
