Topic: in the future, token holders need KYC (Read 234 times)
That is never needed, the characteristics of blockchain is transparent with the transaction. But never again the identity of the owner of the transaction, if the owner has a large amount and their identity is revealed, their safety will be dangerous.
KYC for all the token holders? where's the decentralization on that part if most of them are going to apply this. It's possible for all centralized exchanges that they will do KYC and for ICOs as well which do really happen now.
But by just being an holder of a certain token? I can't see the point of KYC there.
But by just being an holder of a certain token? I can't see the point of KYC there.
It is very difficult to accept for this because the KYC is related to the personal data of someone who is dangerous if it is used wrongly.
If the token is expensive and worth the price, it's good, but if the token is cheap and we use KYC, that means it's the same to give your life to a hungry Lion.
If the token is expensive and worth the price, it's good, but if the token is cheap and we use KYC, that means it's the same to give your life to a hungry Lion.
for me KYC depends on the developer and blockchain that is used at that time, there is a blockchain that maintains customer confidentiality like monero where customers do not need to fear their data is misused, on the other hand there is a blockchain that requires KYC to collect customer data and monitor activities on tokens or coins this and we often encounter this time.
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
I think right now, there is some project that needs token holders to filled KYC and the participants that join in the campaign needs to fill KYC too before they can receive their tokens. maybe it will be good for the participants and the project itself so they can monitor who is the person that still give a back up for the project. but I think there are some people doesn't want to fill KYC as they think that in the cryptocurrency, we have a freedom to hide our personal information from anyone. we are free to choose what we want in the cryptocurrency and we need to know the project before we decide to join and filled the KYC.
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
actually it's good to know who is the person identity who receives the token to hold. there are now many projects that require KYC to confirm purchases or receipt of tokens. I think it's good and safe for Crypto.
the actual purpose of this KYC only as an additional security feature of the course. because of the nature of the crime system now also more and more modus. then there's this KYC system to cope with these problems.
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
Having a KYC for all token holders is to make crypto safer, it's a good idea to prevent others from being scams and fake people who hide their identities in false information and to undermine illegal actions in the market. It's very possible to make crypto safer.
Perhaps you are confused between digital identity blockchain and KYC. What you are saying is totally opposite with the development purposes of blockchain technology and cryptocurrency. No one can know how much and what token you have, it's anonymous.
Many projects introduce kyc for participation. And we have no choice, if you want to participate, you need to pass kyc. But what about the main idea of cryptocurrency, anonymity? At the same pace, kyc will be demanded for rebellion.
The KYC is obviously for the regulation and requirement from Authority of different jurisdiction where projected are sited! If you are not comfortable with a project asking for your details and all, don't send your details. There are legit project however that need your details for proper evaluation and record!
That chance of the implementation of KYC on any project is available, as we can see in the recent project, there are many that already asking for KYC.
At the same time the KYC can be useful for some kind of protection to our coins.
At the same time the KYC can be useful for some kind of protection to our coins.
I don't really like the idea of KYC, cause i've got worried if my data happened to be used for bad things, or being sold.
So I'd prefer to choose no KYC should be implemented.
So I'd prefer to choose no KYC should be implemented.
of course it is very likely this will occur. but I myself am not so concerned with KYC system or not. because in fact the purpose this KYC only as a protection system only. or not, it is certainly not a problem, because only the additional features.
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
What is the concept of decentralization actually? freedom to use money? future technology? If the token is used for daily transactions legally, of course we must conduct an anti-money laundering process. 
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
I certainly will not happen because this market is only suitable for those who want to be anonymous and there are many ways to keep the Token without KYC. I think only those who invest early in ICO projects need KYC but if you are a free investor then KYC is not required. maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
90% of the population here don't want their KYC thing to be done.And it would be really against the basic idea of anonymity and freedom of transacting if you start asking for KYC.
Also, people still get their KYC done while buying tokens worth more than 1K$ or so , this is just to make sure that the source of funding for buying the tokens is legit enough.
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
Well, i think its possible to happen. Having a KYC to all token holders is to make crypto safer, its a good idea to prevent others into scam and fake people who hide their identity in fake informations and to irradicate illegal action inside the market.
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
That would go almost completely against the idea of cryptocurrency and decentralization so I'm going to do something I don't normally do and say categorically that something won't happen. There's no KYC on fiat so why should there be on crypto.
I can't agree with that. KYC is maybe not completely compliant with idea of cryptocurrencies anonimity but it has nothing to do with decentralization and I don't see how KYC would endanger it.
Besides, cryptocurrencies also need to adjust because changes happen all the time. Increased number of scams and misuse require some action and KYC might help in part of it.
Cryptocurrencies can survive and evolve only if will keep ahead with time and requirements.
Sad to see a legendary poster wanting KYC for some security as he does not want to take responsibility and want to let the government take our freedom of privacy to protect him. Pathetic.
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
If you allow them to do a KYC for all coins the bankers and governments will use crypto as a tax weapon against the entire world population. They want a world currency but need to make sure even the most remote counties pay the taxes. Welcome crypto. The public tax ledge for all to see.
Yes, it could happen if in the future the token holder will need KYC, the main goal is of course to be safer, but we also don't know whether this really materializes for the future and of course we hope there is the best policy for the token holders
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
That would go almost completely against the idea of cryptocurrency and decentralization so I'm going to do something I don't normally do and say categorically that something won't happen. There's no KYC on fiat so why should there be on crypto.
I can't agree with that. KYC is maybe not completely compliant with idea of cryptocurrencies anonimity but it has nothing to do with decentralization and I don't see how KYC would endanger it.
Besides, cryptocurrencies also need to adjust because changes happen all the time. Increased number of scams and misuse require some action and KYC might help in part of it.
Cryptocurrencies can survive and evolve only if will keep ahead with time and requirements.
The thing is, `anonymous ` may have not been the original designer idea with cryptocurrencies but was a big factor in value during the early days... With more and more people using cryptos, anonymity may actually be holding valuations back with a modern market. ex. large corporate or retailer investments.
I think there will always be a reining "anonymous" token, Monero is a good example. But for the vast majority, crypto doesn't necessarily need it for massive consumer and worldly adoption
indeed kyc can make crypto better, especially to eradicate abuse and other illegal actions. to be honest I prefer this kyc requirement than crypto must be under the control of a regulator. there is indeed something better than kyc or regulator and I'm sure in the future this problem can be solved properly.
A KYC process can easily be bypassed and still used for illegal activities with no trace to the actual culprit.
Crypto would evolve and adapt as time goes. KYC for all token (and coin) holders is not plausible at this time, neither is it necessary. I think it would be also in future.
Crypto would evolve and adapt as time goes. KYC for all token (and coin) holders is not plausible at this time, neither is it necessary. I think it would be also in future.
I do not think it necessary, it´s enough that this is already a requirement for icos and exchanges, the purpose is to know where the funds come from to obtain these tokens. In addition, I would be disrespecting the anonymity that represents the cryptos, being a bit vague because in the same way, the use of money illegally exists anyway, and only this would be an excuse to exercise greater control in cryptocurrencies
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
Yes I believe that will be possible in the nearest future, it will become a criteria for the development of any token in the future to enable KYC and that is where the real regulations will cone in. Once every cryptocurrency have the feature of knowing your customers it will be easy for the authority to trace any illegal dealings that may be carried out using such coin. There's no KYC on fiat so why should there be on crypto.
There's definitely ways to trace fiat though including the serial numbers. On the whole, outside of illegal activity, it's very easy for a government to know how much money their citizens have.
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
Owners of tokens do not really need to check KYC. They can live without depriving them of their anonymity in the crypto currency. Under the pretext of combating money-laundering, owners of crypto-currencies are deprived of anonymity and want to continue to control cash flows. After all, who owns this information, he has power. At the same time, many people admire at this forum that at every step they will be required to provide their confidential data, various documents confirming this identification information.Offshore zones officially exist for laundering dirty money. States do not want to remove them, since it is profitable for them, all having power have the opportunity to launder their bribes in high state positions there. Here by means of KYC they want to take away from people confidentiality and anonymity and further to manage people, tracing their every step.
I think it is ok to ask KYC process for ICO investment and bounty holders, as it can stop unauthorized usage of money invested and whether the ICO is legal as if they are scammers then they WONT ask KYC.
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
Majority of the ICOs are now asking for KYC documentation even to the bounty hunters. But the main reason for it is to remain compliant with the existing anti money laundering law.
Having a strict kyc guideline is now a requirement for majority of the ICOs. But such guidelines are directly against the nature of cryptocurrency. While a cryptocurrency is meant to be anonymous, such KYC guideline is actually ruining that basic fact. But if it helps a startup to continue their business in the cryptospace, we will welcome the change for sure!
Thise who need to use crypto for illegal business, they will anyways continue doing that by using fake KYC. So absolute achievement is not possible, but to some extent it can cut down the illegal activities.
I think this just ties up to people who use crypto into some kind of centralization crypto has the aim to make the global economy more decentralized. I think this system will stop in the future and decentralized projects will get more value.
As long as tokens are built on decentralized platforms, I think it'll evolve into a two-tier space.
Tokens would be issued and redeemed by companies and brokers, who might have a KYC mechanism to comply with securities regulators. But since no entity has control over the underlying blockchain, they can't stop a secondary P2P market from developing where investors can buy and sell without KYC requirements. I would opt to invest on the secondary market, preferably using decentralized exchanges, to avoid trust and privacy breaches.
Tokens would be issued and redeemed by companies and brokers, who might have a KYC mechanism to comply with securities regulators. But since no entity has control over the underlying blockchain, they can't stop a secondary P2P market from developing where investors can buy and sell without KYC requirements. I would opt to invest on the secondary market, preferably using decentralized exchanges, to avoid trust and privacy breaches.
Some projects organizes KYC process for it's investors during it's ICOs. But once it goes I'm exchange the project can no longer control it's circulation.
Some exchanges also require traders and investors to identify themselves.
The main reason for this it to ensure they are not from states where cryptocurrency circulation is restricted.
A KYC process can easily be bypassed and still used for illegal activities with no trace to the actual culprit.
Crypto would evolve and adapt as time goes. KYC for all token (and coin) holders is not plausible at this time, neither is it necessary.
Some exchanges also require traders and investors to identify themselves.
The main reason for this it to ensure they are not from states where cryptocurrency circulation is restricted.
A KYC process can easily be bypassed and still used for illegal activities with no trace to the actual culprit.
Crypto would evolve and adapt as time goes. KYC for all token (and coin) holders is not plausible at this time, neither is it necessary.
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
That would go almost completely against the idea of cryptocurrency and decentralization so I'm going to do something I don't normally do and say categorically that something won't happen. There's no KYC on fiat so why should there be on crypto.
I can't agree with that. KYC is maybe not completely compliant with idea of cryptocurrencies anonimity but it has nothing to do with decentralization and I don't see how KYC would endanger it.
Besides, cryptocurrencies also need to adjust because changes happen all the time. Increased number of scams and misuse require some action and KYC might help in part of it.
Cryptocurrencies can survive and evolve only if will keep ahead with time and requirements.
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
That would go almost completely against the idea of cryptocurrency and decentralization so I'm going to do something I don't normally do and say categorically that something won't happen. There's no KYC on fiat so why should there be on crypto.
maybe in the future all token holders need KYC so that a token cannot be misused for bad or illegal things. Is it possible
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