Topic: Team also needs to pass KYC (Read 1011 times)
KYC is essential for preventing the token abusers and bounty hunters. Sometimes, it is hard to control the whole database of investors and for simplifying it they ask about the documents. If there is an idea to regulate the ICOs then asking KYC from teams can be acceptable.
I agree that the project team must also confirm their identity, it will protect us from a large number of scams. Today, we can only judge a team if we study their profiles on Linkedin. But we can't really know if it's the same person. After passing KYC, developers will get more confidence from potential users and investors.
We have ICO bench to verify ICO owners identity while in the mastenode ecosystem we have KYD or know your developer as a KYC procedure. But its not enough to stop scammers from launching their project since ID's and Selfie Documents are available in the dark market and they can easily use those to verify their fake profiles.
That's a poor due diligence on the part of the OP because in this day and age who invests in any ICO or bounty program whose team members are not known. If you invest your time or money into any project whose team is publicly known then i think they don't need any further KYC to prove their identity 
When team members require hunters to pass the KYC process, it is a must for the team members to pass the KYC as well. I would not risk my information to pass a KYC when the team members do not want to do the same.
You're absolutely right, the rules should be the same in such projects, because developers can get money and information about us in this way
Kyc for me is necessary for the developers and team to avoid a heavy scam of ICO because they are the bigtime scammers as they earn on ICO by investing of investors so they must the priority to have a kyc not the bounty hunters and investors.If they use kyc for team and developers we can avoid scams.
Investors and bounty hunters are mostly required to undergo KYC while the team behind the project itself are not known. And they scam people. I suggest the team should first pass a "KYC" test and publish it on their website before investors and hunters are also made to do same. What do you also think?
LOL.... who is going to check their KYC documents? Nowadays, the ICO market is completely devoid of any regulation and this has triggered an influx of scammers and criminals. If the team itself check the KYC documents of the promoters, then I don't think that it will be of any use. This must be done by an independent and unbiased third party.
It seems like IEO's brought this to the game.
For making an ieo you need to be out there and exchange must verify your team's id. So ieo means no fake team.
This is on the one hand of course very good that the market will not be exactly a Scam on the part of the team , but of course disappointing is that anonymity goes away For making an ieo you need to be out there and exchange must verify your team's id. So ieo means no fake team.
When team members require hunters to pass the KYC process, it is a must for the team members to pass the KYC as well. I would not risk my information to pass a KYC when the team members do not want to do the same.
I agree that the project team must also confirm their identity, it will protect us from a large number of scams. Today, we can only judge a team if we study their profiles on Linkedin. But we can't really know if it's the same person. After passing KYC, developers will get more confidence from potential users and investors.
I think this should be a prerequisite for each project because we need to know whom we trust our funds and in case of project failure, if the project team tries to deceive us, we will know who they are and where to find them.
I agree with you. Team KYC should be a prerequisite in this space where scams are at every corner. But I believe that a very serious team that know what they are doing and are ready to put anything in line for the success of their project should not be force to KYC or hide who they are. They should be ready to reveal themselves to their investors.
It is very important for the project team to do KYC. Because it is one of the investors' trust in the project itself. Therefore I often remind, before investing, of course the project TIm must be seen first. Is the team really real. If the team has passed KYC, of course it's very good for the future.
Investors and bounty hunters are mostly required to undergo KYC while the team behind the project itself are not known. And they scam people. I suggest the team should first pass a "KYC" test and publish it on their website before investors and hunters are also made to do same. What do you also think?
Rather than KYC, showing themselves as legitimate members would already be enough.Knowing their names, valid social media accounts or any other related things.Bounty hunters has nothing to do with KYC but sadly these people are included on the list implying the rules for them to get the token.
If you don't like to pass any information then better skip these kind of campaign.
Making kyc mandatory for team might not be the best or most effective way of forestalling scam, but it is just one of the catalysts that would aid it.
I am of the opinion that a regulatory procedure by a registered regulatory body would be the way out of scam.
I am of the opinion that a regulatory procedure by a registered regulatory body would be the way out of scam.
Who will be the regulatory body? The Government? Then its counter productive to what cryptocurrency is..
A simple video of the team speaking about the project is enough KYC to know who is behind the keyboard and a video cannot be fake thus making it an effective mode of KYC for Team Members.
There needs to be an independent third party or auditor that can affirm the legitimacy of ICOs. I believe something along these lines has been proposed within the Ethereum ecosystem.
There is no point in bounty hunters who are not investors having to submit sensitive documentation to organizations that might be questionable. Like others have pointed out, it may be best to simply skip past organizations requiring this.
Making kyc mandatory for team might not be the best or most effective way of forestalling scam, but it is just one of the catalysts that would aid it.
I am of the opinion that a regulatory procedure by a registered regulatory body would be the way out of scam.
I am of the opinion that a regulatory procedure by a registered regulatory body would be the way out of scam.
Who will be the regulatory body? The Government? Then its counter productive to what cryptocurrency is..
A simple video of the team speaking about the project is enough KYC to know who is behind the keyboard and a video cannot be fake thus making it an effective mode of KYC for Team Members.
Investors and bounty hunters are mostly required to undergo KYC while the team behind the project itself are not known. And they scam people. I suggest the team should first pass a "KYC" test and publish it on their website before investors and hunters are also made to do same. What do you also think?
I know where you are coming from, I have joined campaigns that don't give a damn about investors and bounty hunters. However, I don't think there is a way to check a team's validity. They could easily pay third-party verifications just like what you see in most ICO review sites. Your best bet is, as always, is to research all the things they present and pray that the team are not heartless scammers.
Making kyc mandatory for team might not be the best or most effective way of forestalling scam, but it is just one of the catalysts that would aid it.
I am of the opinion that a regulatory procedure by a registered regulatory body would be the way out of scam.
I am of the opinion that a regulatory procedure by a registered regulatory body would be the way out of scam.
It seems like IEO's brought this to the game.
For making an ieo you need to be out there and exchange must verify your team's id. So ieo means no fake team.
For making an ieo you need to be out there and exchange must verify your team's id. So ieo means no fake team.
To be fair, I strongly agree if the Team must pass KYC. So that not only bounty hunters must pass KYC. If the Team can pass KYC and the results can be displayed on the website, of course it will help investors trust the ICO project. Now, growing investor confidence is very difficult so we must always give positive things, so they want to invest.
Investors and bounty hunters are mostly required to undergo KYC while the team behind the project itself are not known. And they scam people. I suggest the team should first pass a "KYC" test and publish it on their website before investors and hunters are also made to do same. What do you also think?
it seems like a good idea
but I don't think that will be done by a team from an ico, yes especially those that lead to scams. maybe it really needs regulation as a supervisory body for all ico projects
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