The real question is who are you giving your passport to? Are they thieves, terrorists, criminals or scammers? Why would a crypto project want your identity like that and not move the business to a proper jurisdiction to take this potential huge liability off the supporters..
Do they secure the info (impossible to take out the human factor).
You feeling lucky? For those that send in all your information may your chains rest lightly.
Is crypto really crypto when you need to show 18 forms of id? May as well head down to the big bankers and do business there.
Of course they don't secure the information enough, if you want to trust some start up with like max 30 people out there go ahead. Thing with crypto is that it was supposed to be available for anybody without requesting your IDs and all other stuff.
I believe that any ICO project that requires your personal data is SCAM! There are no legitimate reasons for this, for this I pass by such projects. The same goes for AirDrop.
It doesn't need to be a scam, some countries for instance don't allow ICOs to rise funds from their citizens, so by requesting your IDs they want to make sure not to have any trouble with governments in future. I know that some ICOs are even baned for US citizens, so how the hell can they make sure you are not? I don't say that this is the good way to do it.
Most of the government issued identification documents are marked. The fake ones are always identify if the ICO team are serious and know what they are doing. Also some machine can identify fake and original documents, so it can be verify.
What can you do about stolen ones? I don't think that companies behind ICOs even care that much tbh.
I believe that any ICO project that requires your personal data is SCAM! There are no legitimate reasons for this, for this I pass by such projects. The same goes for AirDrop.
Glad to see some free thinking individuals are here looking at the big picture and not submitting to this bogus KYC scam.
I can't wait to hear the sheep crying when one of these KYC projects get hacked and Al Quada is running around with their passport doing god knows what.
I mean crypto with passport identification losses the entire spirit of the movement. I fear the narrow minded who send their documents in are going to be hurt soon.
Imagine how easy it would be to start a project, get everyone's passports and sell them to the most nefarious individuals.
Anyone know how much a stolen passport goes for now days?
People see only profit and they don't even think twice and look that this is an serious issue out there giving you IDs to anyone online is dangerous.