Team also needs to pass KYC - page 12.

avikz

legendary

Activity: 3080

Merit: 1500

Quote from: Dacosta Osei-Tutu on March 27, 2019, 08:43:59 AM

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?

Thank you for again bringing this topic to life. Almost one year ago I said the same thing. The scam opportunity is not just limited to money. The ICO owners can even sell out your KYC documents at a very good price. Read it here,

https://bitcointalksearch.org/topic/kyc-requirement-from-icos-will-open-up-a-whole-news-area-of-scam-2946614

Also the remediation plan needs to be well thought. Even if the ICO owners publishes their KYC documents in their website, how are you going to validate that?? Just try searching in Google playstore and you will find more than 20 apps that can help you to generate fake KYC documents. So there's no way to validate the authenticity of those KYC documents uploaded in the website either! If a scammer wants to scam, they can find hell lot of ways to do that!

carter34

member

Activity: 1302

Merit: 25

Quote from: Dacosta Osei-Tutu on March 27, 2019, 08:43:59 AM

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?

As such that there is a logic to what you said but regarding the team show themselves in their project and pictures during their road show except those trips , faces and pictures are fake, we never can tell too.

joeperry

sr. member

Activity: 2282

Merit: 470

Telegram: @jperryC

KYC stands for Know Your Customer it implemented only for all the investors of the project in order to know their credibility as an investor and make sure that the money their going to invest is not from illegal activities or money laundering.

For what I've known there are 2 reasons why KYC is implemented on the bounties:
1. To control the greed bounty hunters who uses different altcoin to abuse the campaign
2. To steal your Identity (Identity theft)

And for your topic which is team needs to pass KYC... and where are they going to conduct their KYC test? the thing here is that the investor and everyone of us should study the project first and don't easily give our personal information.

Gagal Mancung

member

Activity: 203

Merit: 48

Quote from: Dacosta Osei-Tutu on March 27, 2019, 08:43:59 AM

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?

What do you also think? I think why are you complain here, is anyone listen to the feeling of injustice that you feel?
It's better to avoid project that associated with the Kyc system. I think it's better for you.

Dacosta Osei-Tutu

member

Activity: 560

Merit: 10

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?

Topic: Team also needs to pass KYC - page 12. (Read 1065 times)