Is it neccessary to do KYC for ICO? - page 2.

Benarand

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Quote from: MediBloc on October 07, 2017, 06:07:01 AM

Recently, there are lots of company doing KYC for ICO.
However, it is kind of akward that doing KYC on blockchain technology.
Do you think is it neccessary to do KYC for ICO??
Plz share your opinion.

It's certainly not smart, we lose confidentiality. But on the other hand, the developers of the project want to make sure that they send their tokens not to a fictional person, but to a real one. At the same time, they are fighting terrorism and fraud.

abduljacklu

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Quote from: MediBloc on October 07, 2017, 06:07:01 AM

Recently, there are lots of company doing KYC for ICO.
However, it is kind of akward that doing KYC on blockchain technology.
Do you think is it neccessary to do KYC for ICO??
Plz share your opinion.

For the ICO investors that is very needed,so these ICO founders would be sure that they are complying the SEC's regulation that doesnt allow U.S citizens to participate in any ICOs,for the investors this is a good thing because they will know that the project isnt a scam,legitimate ICOs will require you to undergo with KYC verifications,most of the scam ICOs doesnt require KYC verification so you know the pros of having KYC.

radokan

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Quote from: akashark on February 19, 2018, 12:15:13 PM

Actually, KYC is not a big deal anymore I guess. Day by day scammers and spammers are increasing incredibly in ICO project. That's why ICO projects is trying to find out those scammers, This is just my opinion though, Besides this, There are some rules about it like If someone want to participate in ICO who lies in European resident then he must do KYC.

That is definitely not a reason.
Few countries have banned ICO's and with KYC it is easy to check if participant is from restricted countries. All other reasons are nonsense.

Quote from: pstraene on February 19, 2018, 12:27:37 PM

and when the team from the ICO after ICO runs away and sells the data? And then buy weapons or drugs with your ID card. And two days later the police will ring the bell? What do you do then ? Big eyes ??

Can you explain how to buy drugs with ID card? Drug dealers are asking for ID verification or something?
Your ID can be abused in many ways but not for buying drugs or weapons. I have never heard drug dealers or illegal weapon seller are asking for ID's , their business is already illegal.

tamango

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Personally I don't care if I have to do KYC for investing in ICO.. I have nothing to hide but if I were people that can't partecipate because of this I would be quite upset.....

but regulation is necessary in this world if we want to develop and expand even more...

abbywem

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Check out the post on sending in a fake id for KYC. Just eliminate the entire issue. It appears most of the people sending in documents are sending in fakes and they are flying right through. Just don't be the sucker (like me) sending your real information to unknown sources. Every govt official and scammer prob have my passport now. I'm very upset that everyone was using fake documents and I sent real ones. It appears only the suckers actually sent the real stuff in.

Kolokoy

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Quote from: MediBloc on October 07, 2017, 06:07:01 AM

Recently, there are lots of company doing KYC for ICO.
However, it is kind of akward that doing KYC on blockchain technology.
Do you think is it neccessary to do KYC for ICO??
Plz share your opinion.

If that's necessary then it's fine for me because I didn't hiding on any hoods because I am a simple guy with no criminal records in local and international.
If they require our identity information before investing then so be it but one thing they should do, that they're going to keep the records only on their vault and not be going expose to anyone else or any organization that might find useful for their advantage.
Our identity should remain private together with our Crypto Assets to keep ourselves away from future scams and frauds.

pstraene

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Quote from: akashark on February 19, 2018, 12:15:13 PM

Actually, KYC is not a big deal anymore I guess. Day by day scammers and spammers are increasing incredibly in ICO project. That's why ICO projects is trying to find out those scammers, This is just my opinion though, Besides this, There are some rules about it like If someone want to participate in ICO who lies in European resident then he must do KYC.

and when the team from the ICO after ICO runs away and sells the data? And then buy weapons or drugs with your ID card. And two days later the police will ring the bell? What do you do then ? Big eyes ??

bigdogdan2

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ICO is banned in some countries, so KYC is needed to prove you aren't from those countries.

akashark

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Actually, KYC is not a big deal anymore I guess. Day by day scammers and spammers are increasing incredibly in ICO project. That's why ICO projects is trying to find out those scammers, This is just my opinion though, Besides this, There are some rules about it like If someone want to participate in ICO who lies in European resident then he must do KYC.

pstraene

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Activity: 364

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LYMPO want to have KYC. what can we do ?

JOIN THE LYMPO TOKEN SALE NOW

Know your customer ('KYC') is the process of a business identifying and verifying the identity of its clients. It is vital for Lympo to comply with the regulations by various financial institutions in order to build a successful company. Please take a look at our token sale terms and conditions as well. Have your passport and your proof of address with your name on it ready!

Dear Lympo supporter,

This is a reminder about our airdrop for Lympo pre-sale participants!

Don’t forget to do your KYC here until February 28: https://lym.finpass.eu/.

rayk

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I think it depends on where you will start your company and ico. usa, switzerland or singapore? I see regulated projects use different kind of methods for kyc requirements so it depends on laws

thepo1m

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It is just an issue of trust, because most of the developers do not trust those investors, they will have protect themselves from all these various government agencies in case of future legal issue

coingrow

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For most of the ICO's, american citizens cannot participate in them and to keep them away these ICO's are asking for KYC. If you are a american and want to buy into ICO, I suggest you should use VPN. Why buy them from exchanges at a higher price. On the other hand, for most tokens, prices are going below the point at which the token was sold during ICO. So just be careful on what you buy!

~Bitcoin~

legendary

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It completely depends upon where those ICO were based on and as recent changes in legality of ICO in many countries like china and korea, it is quite mandatory for all of the project to have kyc policy in place to get rid of any legal issues in future.

buxlover

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I think that's necessary. The more the ICO KYC registration the more legal status it will gain in the social network which is now getting important because of today's untrusted factor of ICO projects. If they are doing the KYC that means they are bound by some sort of law and they have to show their every transaction to the government which means our money is being put into safe hands. This is pretty amazing as we could trust these ICO more and invest into them with free mind.

luffy7

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KYC makes the ICO more legit and easier to list on bigger exchanges.

Crankautist

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Quote from: MediBloc on October 07, 2017, 06:07:01 AM

Recently, there are lots of company doing KYC for ICO.
However, it is kind of akward that doing KYC on blockchain technology.
Do you think is it neccessary to do KYC for ICO??
Plz share your opinion.

Yes of course. Wont escape AML and KYC.
It is just a question of time.

Governments wont accept black money - never.

susila_bai

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It is very good that if ICO asks KYC but that is for fiat currency investment only but even if you are investing heavy investment in ICO through cryptocurrency also you need to fullfil the KYC documents. But in this process we cannot say that if the ICO created are scammers then they can use your documents for forging also. and the main point of cryptocurrency success was to not give any identification documents to reveal the identity.

Champ1

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Completely depends on the country you're situated, since they might be heavily regulated which is the reasoning for the KYC.

jezus

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What ico have kyc?

Topic: Is it neccessary to do KYC for ICO? - page 2. (Read 423 times)