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The crypto market is decentralized, we live here as anonymous and free and we love it! But this KYC process is killing the anonymity of crypto! To invest in a good IEO you need to verify KYC, to do a good bounty project, you will have to go through KYC! But why? You guys are doing nothing with our KYC, then why you keep asking our identity? A selfie by holding my ID card, wtf! Did we ever ask you to verify your KYC when you launch a project/bounty?  Why you are not coming with another option where a freedom crypto member doesn't need to show his face?

Ok, guys, now my question to you, Have you any idea what can be good to replace the KYC method?

I can not say what can be used instead of KYC. Things were a little different when crypto was not heard by many people in the past. Recently joining more people to this sphere require the removal of illegal business and therefore exchanges, IEO offerers need KYC to counter it. You may be able to protect decentralization within this sphere, but at the end you should still apply for central exchanges. BTC and the like are decentralized in their place, but when it comes out it returns to routine centrality.

You can actually ask the bounty hunter to fill up KYC spreadsheet form if you want. That is if he would fill it   :D

One thing you can only do is avoid those bounty campaigns asking KYC and if you don't want doing it on exchanges then just stick to KYC. I try not to register to some other exchanges since I don't wanna do it over and over to the exchange where I register.

Don't use centralized exchanges instead use those decentralized exchanges. But this problem starts through those because the volume from those kind of exchanges isn't that much.
That's the very solution that I can think so far but who knows in the future, there will be centralized exchanges that won't ask for it.

That's the downside of getting involved to IEO the project itself requires KYC because they need to otherwise they will be taken down by the government and could potentially be accused of money laundering or some sort.
KYC sucks I know considering that our data could fall into the hand of someone who's irresponsible or criminals that's also why I never submit KYC anywhere else but some exchange that are already reliable and the owner is already known by the public. There's definitely no other way to replace KYC as of now.

KYC prioritizes security to prevent people from doing twice or using excessive accounts. KYC has been a procedure to expel the cheater or scammer who wants to ruin the ecosystem of a project.
Somehow many do not like it because there is no freedom from crypto itself that says it is anonymous. It is true that it is very inappropriate if arguably anonymous crypto and they use KYC identity.
But in order to prevent various problems, one of them is KYC although not all platforms want it. And some trading platforms such as DEX solutions for people who want their identities remain anonymous.

Nobody in the cryptocurrency industry actually wants KYC. This is just a regulation that is forced onto the industry by regulators and governments.

Obviously most projects know that they are limiting their options by forcing everyone to complete KYC—it is better for business to have no requirements on who can invest.

There is no alternative unless we want to use some sort of escrow system where brokers pool funds to purchase tokens from ICO/IEOs.

This is similar to what Rocketfuel does, but they don't seem to be hugely effective.

This is like the 10th KYC thread I've seen just this month. It seems as people are starting to see the problem with KYC on crypto. It's pointless basically.
Smart money is accumulating projects like Blocknet, Komodo etc, as these projects works on Decentralized Trading solutions (DEX's). Eliminating the need for KYC, accounts, registrations, personal info, you name it!

A real DEX can't be shut down, you can compare it with downloading torrents, which is essentially you downloading off of something else who seeds the file. You can close ThePirateBay, but it doesn't remove the torrent itself. ;)

There's a reason Binance felt the need to make their own, since DEX's could easily become the industry standard.

I don't like the KYC process, but how else can prize rules be changed suddenly by requiring KYC so that I have to do KYC to get paid. I think it is difficult to replace the KYC process because the KYC process is to avoid extortion and money laundering.

I don't have ideas how to replace KYC with other system without upload our document data, many IEO investing project needed KYC because they want only give permission for investor allowed in their country become IEO investor participants, many country not giving space for investing with ICO and IEO project, next time many IEO and ICO project need KYC.

on the one hand, it has become a dilemma given that KYC gave up our identity. if it's a bounty maybe you can avoid it from not following the bounty that requires KYC. because of some Bounty cases, KYC information is explained at the beginning if you want to participate. If there are some exchanges that don't need KYC, for example, only installing 2fa, you can use that method. However, if KYC is required to make a balance withdrawal it is difficult to avoid I guess.

This is what most of the bounty hunters and investors are afraid of especially that we are giving our credentials to the team that we don't even know whether they will safeguard our credentials or they are going to make use of it like they are going to sell it for their own purposes.

KYC is killing our freedom so if there are any possibility that can replace the KYC then it will be best so we don't have to expose our own credentials for the sake of few bucks or thousand of bucks for the investors side as right now, I cannot think of something to replace it.

All of those asking for KYC are not doing it because they like it or because they want it they are being forced by governments to do it, so there is nothing that could be done to avoid it unless governments decide to back off and stop their demands but they will never do it, governments changed from their original reason to be which was a way to ensure the security of their citizens to an institution that wants to know everything you are doing all the time.

no, kyc is actually good. but many people abuse it. Instead of replacing, I prefer KYC to never exist. crypto was created for anonymity, and because of this many like crypto. but kyc only makes blockchain anonymity useless. the more projects that implement kyc the faster the crypto leads to collapse.

No, most of the time the situation is different, bounty projects announced the KYC requirement after the bounty period ends. So, this is a scam. For example, Mycrojobs announced the KYC procedure after 53 weeks of bounty ends, can you believe? I have no problem with exchange KYC because I have Binance, Kucoin to trade.

Crypto rules may be the second method besides KYC, but this is not possible because crypto is decentralized and the market is not regulated by anyone. Nevertheless KYC is a form of minimizing fraud in the project. For me KYC is not a big problem, it is important that projects / exchanges that require KYC are legal & responsible

No. A bounty or a project that is base on a country that ask KYC needs to comply for the project continue. They really don't have any choice to be honest but to ask the investors or bounty hunters for KYC. But those who announce KYC after finishing the bounty are absolute scums and a scam. The only thing for those people who doesn't want KYC is to just avoid it. If you don't want exchanges that ask KYC, then find another one or use DEX.

I also hate it but for now, I don't think there is a powerful method to replace KYC.
In addition, KYC is actually very useful for financial investigations used by someone in money laundering. But this method is also opposed by those who really are not the perpetrators of the crime, they just want the freedom that is not regulated by the government or an agency. Maybe another way to get rid of KYC temporarily is to move IEO to DEX.

in my opinion there isn't and there really isn't a need for kyc, let everything go like 4 years ago where all the processes went well and not complicated. sometimes for uploading documents, we have experienced difficulties. sometimes waiting for confirmation from the developer also takes a long time and is painful again when rejected. they ask Kyc with the reason to limit double accounts, okay we can accept it. but what's the lead lead? they don't do kyc, so we don't know the true identity of team members and when what happens at the end, nothing can be accounted for.

for now i don't think there is a substitute for the KYC method, maybe the only way you don't give KYC is not to participate in projects or campaign programs that require a KYC. avoid the program then you will be comfortable living, but if you still have the desire to participate then just do what has become a rule that has been applied, because in the future i'm sure crypto is no longer something anonymous because the growth of this industry has also been increase at least there will be many changes that happen later

as far as I know, the use of KYC is so that the project can meet the regulations in a country. it was made to avoid all kinds of forms of crime such as money laundering. The government is aware that the anonymous nature of crypto makes many people make illegal transactions because the KYC applies to projects in countries that have such regulations.
however, KYC is the only way to find out the users, because we need to prepare all the data themselves, and also selfies to convince them. I don't really support KYC, but it seems like it's really needed, especially when crypto is popular.

To replace KYC, we have to replace regulation from government too. bcz the one who creates KYC is government
exchange, project just wanna pass regulation. they need it to get accepted in their country
yes it is contrary with cryptocurrency purpose

I do not see any other way to identify this type of fraud apart from going through the KYC process, KYC is a good way to identify fraud whether it is multi-account in a bounty forum or to conduct transactions at every exchange. so I personally have no ideas other than KYC.

It's indeed contrary to the concept of decentralization, But there's also required information that the government will ask those business who caters the IEO's there's no chance for them not to comply so for now there's no other ways to avoid this KYC.

Government needs to protect their jurisdiction, making sure that their people will not freely invest/transfer money without their consent,
especially those trading exchange businesses under their jurisdictions. They will not allow anyone to freely work with this kind of business without their approval.

IEO requires KYC because it avoids money laundering
Bounty requires KYC to avoid fraud / multi accounts

I think if the reason is what I mentioned above, there is no other way than KYC

There are several bounties that asks for KYCs and several not. If you are not easy with sharing your personal identity to unknown people, don't join such bounty.
We can't just blame the bounty manager or the project for KYC as they need to cope with everything from bounty cheaters to regulations from the government. They need to have an answer when asked about.

Still the same.
Even with a new version of it, your information will still be leaked to another party.
That is what KYC is all about.
Just try to understand why they are doing it.
How about you try to imagine if you are the owner of the company which lies in Singapore?
You will have to abide with the government rules.
As a bounty hunter, they will give you a part of their coins which is actually against the rule. So they will need that KYC for it to be approved.

i prefer not to join those bounties that required a KYC
i only make an exception if the token look really promising
but joining every campaign and submitting your personal identification in every campaign is not really a good idea

it's done because many people use more than one account, indeed sometimes it is very annoying but if it's the rules of the project then we have to do than we don't get anything while joining, and I think there is no other way to verify other than KYC

Other project use this KYC method to see that they are not abusing by members if this is all about bounties. But other project such as IEO  to be able know where the investors came from and if its legal to thier country to invest in them. You already know that  there are country already banned crypto and ICO they are just making  sure  that  you are not belong to that country.

I still dont see any way to replace it, the only option you can do  is buy that coins after IEO, ICO.

I think only by using KYC, everything can be known clearly because if using other methods, it can be very easy to manipulate, while using KYC, it must have a valid identity and can be accounted for.

we are all against it, but KYC is the only way to eliminate fraud, even though it is also not good and safe to give our personal data to the ICO / IEO scammer site, so for those of you who feel bounty hunters if you really don't want rules about KYC should encourage Bounty Managers to self-correct as well, sometimes they judge the work of bounty hunters as inaccurate, whereas we know that many fraud accounts use the work of others by copying their work links, if the exchange site sucks for you because your KYC can go to a decentralized exchange site it is very easy

No. It's not up to us to decide whether or not KYC is required. It's completely up to the regulators and the governments that back these regulators, and their general attitude towards BTC related services is certainly not positive.

There are always going to be some unregulated exchanges that are present that allow you to trade without KYC. But then of course the question presents itself, whether or not you are willing to take a risk with such an exchange.

I think this is the reason why decentralised exchanges will be popularised in the future, given that somehow fiat can be integrated.

I think we don't need to replace kyc because all we know that all details that we need to verify someone's information is in the kyc. I have a suggestion. They need to add some requirements to kyc like face captured and requiring proof of billing to make sure that no more fake accounts will be created here in crypto industry.

We can't control these things. I am sure that if the project owners can avoid requesting KYCs, they would. Unfortunately, the government laws in their base of operations is responsible for those requirements.

I agree if it is in the interest of investors, but the bounty has different conditions where the allocation is very small and still divided again, the airdrop is also more alarming. Kyc's goal is no longer the same as that of investors, but multi-account prevention. The worst thing is that this project is a scam after taking user data, no one can guarantee this, so it would be nice if Kyc was only applied by investors, and for other things only apply verification of evidence in this forum or only verification of telephone numbers that can be contacted.

Kyc has now become a rule in several projects so it is difficult to replace, unless the government has other ways to replace personal identities, good bounties are always identical with KYC because they don't want the scamer to take the opportunity in the bounty, as well as IEO to maintain assets where there are problems that occur with your KYC can be fixed.
So I don't think KYC can be replaced by another identity right now.

Yes, it is absolutely true that passing KYC makes this procedure very inconvenient. But there are projects when passing KYC is very simple. And with great pleasure you pass it. And I want to say that KYC is obligatory that we are surrounded by scammers. And KYC in such cases can maintain safety. I believe that you need to somehow come up with the passage of KYC more secure and simple. I think that this should be done by project managers.

Filling a basic information is enough for me, but submitting with an ID, Well nope, I don't like it.  Well I don't have any idea replacing KYC, just filling information is enough to get the reward.

The anonymity of crypto transactions matters for me, the limitations just take the piece of freedom from the crypto users. It looks strange to give away the personal documents for passing the KYC on various sites, I never agreed to send my documents to third-parties for moving the small crypto transaction from the one address to another one. The alternative choices do not exist yet, KYC free exchanges are the synonym of decentralized exchanges.

AML regulations must be implemented so that there is not a lot of fraud, when we want to invest in crypto and use fiat to buy altcoin then we need a bank account, where the account has a number of personal data information that we have.
Crypto was created for easy transactions without currency differences in each country, KYC regulations do not prevent me from being able to buy altcoin and I think only KYC is good for avoiding fraud

There are few features that I don't really like having KYC :

• Lessen Anonymity
• Inconvenient
• Less Freedom
• Traceable

This really kills the crypto feature of being anonymous. If this method become mandatory, it will give negative effect to the cryptbto o community.
Otherwise it has few advantages like :

You'll be force to apply for our passport. Jk! 😅

Honestly I don't joining to the project even if it has potential. I dont really want to undergo KYC.
There's a chance that government interfere with any transactions being made inside this community which is not really good idea.
Who wants to be controlled by government or any kind of.

I do agree.
There are no other options to replace KYC verification since it is their only way to regulate and implement the condition they made to run their projects.
Let's just be grateful that this is only applicable to centralized exchanges and not in every corner of crypto space.

I think if you want to remove KYC for good you need to have a crypto haven country in the world. Online business models have been working great for Estonia for example, you don't even have to go to Estonia, you just open a business from your own living room, send the needed documents and be done with it, it takes maybe couple of days at most.

Most crypto casinos work with KYC anyway and they should not for example because their licenses are based in curacao, but their HQ could be somewhere else and they ask for KYC for different purposes. Exchanges should not force for any KYC instead of trying to find an alternative. Find a country that doesn't care about the KYC and open a place there and just run it from wherever you want but have your base in that country so you are not forced to ask for KYC.

Who told you they are doing nothing with your KYC? Some sites asks for KYC in order to abide by the anti laundering laws or follow their government rules. Again, some project asks for KYC in order to prevent users from abusing their system. But sadly, most of the (scam) project collects user information and KYC in order to sell those data and make some extra money after scamming them.
Right now, there is no replacement for KYC sadly.

I have no problem with KYC nowadays because it really helps to remove fraudulent from a project, sometimes it is very essential. But I have an objection in KYC for bounty hunters. There are many other options that can replace the KYC procedure in the bounty section. Like they can ask to pm the bounty manager through Bitcointalk or telegram as some of the bounties did before!  Asking participants a selfie by holding a NID card is an insane procedure in the bounty! But the sad part is you can't replace the AML/KYC system from the crypto world!

I don't think there is something else we can do to replace KYC, if they will do it they will ask mandatory registration with documents.
But we can probably replace our names with BTC address if the government will ask us which BTC address we use.

In the Philippines, there is a popular app named coins.ph all of us who lived here were asked to submit IDs to them.  WE can't change our BTC address forever, we don't even have the privatekeys to it but we use it since its just the only that will allow us to make transactions. If the BTC address we have to this company associated to out names we can be identified by the addresses we have. If the government seize them our data will belong to the government, our selfies are bonuses.

I don't have the idea to replace KYC because in my opinion it doesn't matter as long as when I do KYC I can make sure the data I provide is not used for crime. plus usually companies need KYC for existing regulations and proof that customers are not bots

The purpose of KYC is the validity to its user. They are not asking it for nothing. However may sound it exhausting we cannot just avoid such thing. In addition, KYCs are offered by platforms who are centralized meaning they are controlled by center authority so if you want to avoid those thing or you are annoyed with that then look out for platforms who are stand alone. On the other hand, on the contrary of your argument that you didn't ask for their KYC before deploying the project or whatsoever is that, the thing KYC is for the customer or to people who will be their transacting at meaning it is for us.

Maybe just don't do ICOs or IEOs then. It's not up to the team if they want to ask you that, it's needed by law. Just choose to buy them after an ico or mine them yourself. In theory i guess they could implement some sort of Zero-Knowledge proof system, but that's just for proving that you are who you saying you are anyway, you just don't give the passport etc.
But if at some point you want to change it to fiat money, it's really hard not to reveal who you are.

what about video calls, this is better than KYC. the project team can make a video call to interview investors or just show proof of personal documents. rather than kyc, which is very detrimental to investors because there are many problems with kyc data. kyc is currently too obsolete, many problems have occurred since kyc was first introduced. I strongly criticized this rule from the start.

Difficult question specially if you relying by the rules of your government. It is hard to escape taht.
Different government have different rules. If bitcoin is regulated by the government and the banks then how could you escape from it?
What I do is not rely with what the internet needs, that is already a risk.
 
WE are here for privacy and if that is not could be given by our government then we can retaliate in a peaceful way.

Being spammed with junk mails is one normal thing happening after our information got spread out in the dark web. Parcitipating into bounty recklessly is like investing into our future problem that's actually can be avoided but people will still participate to it anyway because greedines.
I'd personally never trying to get involved into anything that demands my ID except from those legitimate company that is verified by the government and not just a measly new founded company with the information that I barely know even worse is when the owner of the project is not showing their face.

I think no other thing to replace KYC to prevent people are not doing bounty or airdrops with multiple accounts. I think if a person don't want to do KYC they should not enter the website like bounty or airdrops that require KYC. Or if an exchange require KYC to withdraw big amount, the person should seperate their balance into several wallets. just like that.

maybe with the KYC can minimize the existence of fraud by many parties. and nowadays sometimes KYC is thought to be useless for anything. we never know for what team stores the amount of data that many people have. but maybe we think now what should be done to replace the KYC system in order to minimize fraud?

Video calls aren't too bad but I have heard some kind of interaction between producers and consumers having conversations via video calls but the same problem is not much different like the manipulation of people's faces or some kind of paid person. actually the KYC project can help minimize fraud, but I don't really know firsthand about the misuse of people's data, but in most cases personal data can be sold and make money.

I hate KYC AND there are so many good projects and opportunities that have passed, because of KYC, I have horrible experiences, on these airdrops and bounty campaigns in the past they only want our infos and they have no intention to continue their projects or platforms.
I don't think they will ever replace or do away with KYC, because it's the government's requirements for these crowdfunding projects and exchanges to operate, and this is the only way to track people's money.

Implementing KYC for crypto investors are required because there are some restricted countries their citizens to participate in this kind of investment while KYC for bounty participants is optional and will only depend on the project owners decision. There are pros and cons with KYC in crypto space but for me its not a bad idea either since it helps to prevent criminals to enter in this industry.

Personally I think the KYC situation is pretty ridiculous. I understand the reasoning for it, but the idea that everyone involved in crypto needs to provide a ton of personal information to every exchange, every bounty, every single time they want to do anything with crypto, is too big a risk.

What should be done is some sort of KYC standardization and communication between exchanges or some central authority. Such as if you pass KYC at Coinbase, Gemini, Binance (or whatever large exchange), you are done. Do it once, at a single exchange and you pass KYC for all of them... no need to send your license/passport to every other exchange too nor do they get that info, just a confirmation that the person passed KYC. Minimizes risk at least somewhat.

Some bounty projects asks KYC after the campaign period ends. No one likes this procedure but in the end, most of the projects keep doing this! KYC is not what cryptocurrency means. It's ruing our anonymity. Sometimes you need to open an account in other exchanges where they ask KYC before with withdrawal! But alas we have no alternative to KYC procedure!

Everyone knows that the KYC is the opposite of crypto's nature but still everyone accepting it! So that bounty, IEO, even 5 USD worth airdrop program is asking the KYC verification! They ask passport, driving license id paper with a selfie with handwriting signature verification! Therefore you can't be done only by Coinbase, Binance KYC, if you do bounties you have to perform LYC every single time again and again! I wish a perfect alternative may come which admires the crypto's decentralization!

Op, I don't think you understand that exchanges *have* to implement kyc procedures in order to deal with fiat currency.  They don't have a choice in the matter.

What makes my blood boil is when these ico projects slap down a kyc requirement on their bounty hunters, whether it's at the beginning or end of the bounty.  There is no reason for that at all, and I bet the information is being sold to spammers or worse. 

I imagine that eventually all exchanges are going to have to get more documentation from their customers as time goes on and gov'ts start regulating crypto more.  Right now the situation is tame compared to what it's probably going to become.  The possibility actually scares me.

The bounty/KYC situation is nonsensical. If a bounty campaign wants KYC, I simply forget about it. I was referring more to exchanges, which in itself is pretty terrible ... especially for the smaller exchanges. I'm not sending my license/photo and personal information to a smaller exchange in some little country somewhere, the risk is simply too great. I'm not even fond of sending it to a large exchange, but there the risk/reward situation leans towards reward. But as things are now, we are supposed to send that info to each and every exchange too -- there it seems they could streamline the process and make things safer.

As for bounties requiring KYC, there really isn't a solution. Well, besides simply ignoring them, that is. I see little point in even bothering for bounties/airdrops, most are lucky to pay out anything at all.

What I don't understand is why a bounty or airdrop would even require KYC. There is no risk of money laundering, as no funds are exchanging hands. If it's a tax situation, it's equivalent to the govt worrying about a $5 bounty ... it'd be like requiring tons of forms to fill out, passport, personal info, for a free t-shirt giveaway somewhere or when McDonalds gives away a free burger. So beats me why bounties feel a need for KYC unless they want that info because they think it'll also mean folks will invest in their ICO/IEO. Or they want that info to resell it.

It seems to me that in the future this procedure will appear much more often. I, too, believe that this wrong. For bounty participants, this procedure is not necessary at all.

KYC is started why there is a lot of scammers and fraudulent happening in crypto, many people take advantage of being anonymous to scam others and we have the solution, and this is to require KYC in all participants. We are somehow worried to pass KYC cause they'll used it for illegalities which they are using our identity as well. Well, it something we need to face the reality that KYC is in the adoption of all exchanges today but if we feel doubt on that certain exchanges...pls don't try to risk your Identity.

Kyc for the bounty of the participants is not completely necessary, I think. It seems to me that the projects are asking them to go through this procedure in order to get rid of them and not pay them a reward.

I have the same thoughts also on that. If the project didn't tell beforehand that they need to undergo kyc after the program is finished, then they motivations not to pay those participants. Because only few will comply.
Instead of KYC, they can use the IP check, and the exclusion of those who are using tor network. But for legit exchanges, we can't avoid the kyc stuffs.

In my opinion, KYC has still not been replaced. IP check might be possible but we know it can be tricked and many countries still use dynamic IP so that IP keeps changing all the time. With KYC, people cannot falsify their data because the exchanger or the developer team will know whether our data is edited or not

KYC is necessary for everyone! Bots, spam, fake users abound, KYC minimizes this number. But I see that a lot of user information has been exposed, which is something that many people consider carefully before verifying on certain platforms!

yes i agree with you. the use of KYC on the IEO project to prevent people from doing twice because sometimes someone has multiple accounts. and they register all their accounts to be able to get a lot of profit. if you use KYC then everyone will only register once. and the use of KYC to prevent money laundering. I myself do not really mind if a project requires filling KYC. if the OP does not like KYC then look for projects and exchanges that do not use KYC.

That is definitely unfair. When a project is launching and asking investors for monetary support through ICO or IEO, investors do not ask them to appear in a selfie with a written note that they are so and so together with the current date and their signature, while holding their valid identification. And when the investors will receive the worthless tokens, they will have to undergo it first before the tokens will be finally deposited to their wallets. I think we need to scrap this KYC if that is the case.

that's what's not fun. I once did KYC with an email address for the bounty project that paid me. but after a while, many projects sent me their promotional emails. and it bothered me because I was afraid that it was a fraud. not just 1, but many emails from the project did not enter my email.

Look your KYC with bounty campaign is not safety about your email account, they always sent you promotion about many ICO project for investing, how about with your document upload for KYC safety or not, I think when your email is not private by bounty manager KYC they will use your KYC data for using at other KYC forum, keep hidden your ID when using for other KYC.

Although I myself do not like KYC and I try to minimize the provision of my personal information, sometimes KYC is necessary. I still use KYC for the exchanges I am using, because it is necessary to protect my money.
I don't do kyc for aridrop and bounty, because most of them are spam and they are just trying to steal my personal information.
At the moment I think there is no better alternative than KYC, hopefully in the future there will be other verification methods that we do not have to disclose our identity.

I don't even think it's wise to give strangers or any kind of person your valuable IDs, pictures, etc without knowing how they handle them. It's a very dangerous thing to do. It is not even clear whether there are laws that protect people against the misused of their pictures and ID by those who collect them otherwise I would've advised you to be informed about the laws just incase of misuse of your information. Giving your identities to strangers is dangerous as long as there is no such law.

As regards the alternatives, some have proposed the use of decentralized(not fake decentralization) identify management/authentication system. The idea is that your identities and pictures can be verified by skilled random verifiers once in awhile. While your pictures/identifies are only stored locally (on your phone or computers) and not centrally. Alternatively, your identities can broken in pieces and stored decentrallly or on community computers/phones. Whoever wants to verify your identity can do that without ever accessing the informations.

I don't know if someone has built something close to this or even something better.

do kyc only for pre-sales, and for ICOs it is not necessary because it can be represented by the exchange they will register, this concept is actually no different because both of them require customer data, dev can interact directly with the intended market, there is no good integration yet besides kyc.

There is no legality element in ICO because it is not included in the institutional monitoring list. Dev only took the opportunity to collect data in a dirty way, a protocol that is not useful for group authority.

Doing KYC is good only but when your producing your KYC make sure for whom your producing KYC that is not fake. and there is no other option to replace KYC. If they don't ask for KYC then many people have more projects which is not correct.

Crypto market  is a decentralized. When you do exchanges you will have to provide KYC.

In some countries for crypto  KYC is compulsory without completing that you cannot go further due to regulations.  

To me know your customer is the real and most used tool to dictate scammers and monitor everyone being real or unreal, so I do not think there's anything that would surpass that as that's just persons identity and details. Some kyc requires live chat self, some requires holding of your passport and snap while some requires just your passport and bank details. I do not think any other thing can actually replace KYC.

KYC prevent us from being anonymous in the world of cryptocurrency because this kyc requires us to submit our necessary data so that the projects and bounties avoid multiple accounts for those person who are abusing the bounty campaigns. But for me it is somehow have a negative effect on us because we will not become anonymous anymore if we get a selfie with our ID card for just to pass the kyc requirement of the projects. That's why many people are not supporting project that requires KYC because the supporters and the bounty hunters don't want to submit kyc in order to remain anonymous.

before coming to your question, I will discuss the KYC provisions in IEO. IEO is the collection of funds from the exchange to finance a project (here is crypto) an IEO will be successful if the exchange partner is large. like Binance, Huobi, Kucoin, Bittrex. and this exchange is responsible for the government. has a regulation from the government. and the task of the government is to protect its people (here is financial) as we know, too many ICOs, IEO that end up fraud. Why? because it ignores and does not comply with regulations. ICO / IEO is made only to take investor money without ID. so when IEO gives requirements about KYC, it basically protects you from fraud. if your money is lost because of IEO. You can sue for an exchange that holds IEO. Your question is, is there a replacement for KYC? I think there is currently no. KYC is still the first choice to protect your funds.

KYC was created to prevent abusive users from creating multiple accounts, that is why a lot of projects requires for them avoid this kind of incidents. KYC is really killing the anonymity of crypto because we are sending are own personal data, which it is very dangerous that they could sell out our information to illegal acts such as scams and money laundering. I think there's no need to replace KYC because i think it will be better if we remove KYC for crypto users not to be afraid from investing in projects. We could easily determined a users in creating multiple accounts by checking their ip and mac address, that is why there's no need to worry to require a KYC.

It should not be eliminated but right now it's been doing for the wrong thing. The implication of KYC itself will be correct when it will be used as a way to verify the identification of the developer who will be running an ico. Kyc implementation needs to be on its place. The verification through another way is a good idea too but that needs to be tested.

You need to note that there are many fraud IEO aswell, demanding KYC doesn't necessarily mean the IEO is safe or legit, if they turns out to be a fraud it will be even worse, Imagine losing money and getting your ID sold on top of that. If the government is really wanted to protect their own people they should have made some kind of organization to verify the KYC and hand the result to the respected project and not instead making people submitting their ID to stranger. What government care is just about how they will prevent money laundering because that will minimize their taxes revenue not saving their people.

Sending your personal information or KYC in a projects is really unsafe, that is why we should remove the requirement of having KYC in a project because if the project that you have submitted a KYC is a scam, you should be scared because they could used your personal information in illegal activities like money laundering.

Centralize Exchanges require an audit report for their yearly income and finances, as this is the reqirement of securty exchange commissions. Because if they do not provide an audit they may be fined or their registration revoked and terminated. So maybe they need Kyc for this too.

Although we all hate KYC, I think there is nothing much we can do about it right now. The centralized exchanges are legally registered as a business establishment in their place and because of that they are operating under the existing laws and regulations. You are right that a violation of these laws and regulations might put their entire business at stake because their licence could be revoked or canceled. The option that we have right now is to use DEX or maintain a minimum transaction amount.

KYC is maybe imposed by exchanges because of regulatory reasons. Some countries have strict policies and regulations in regards to cryptocurrency, that must be one of the reasons why KYC is required by exchanges to abide and to avoid any regulatory conflicts. So, there is nothing we can do, it is either you provide the KYC requirement or just find another exchange.

There is no KYC substitute but the companies can impose exceptions for small time investors. Kyc for bounty hunters is a different approach companies are doing it to eleminate bad actors and cheaters. The KYC system is really not part or out of decentralization dream, privacy is still a big issue in this case.

There's no replacement for KYC and I don't think these exchanges and those who want to identify us will do away with KYC, this is the only way they can trace who we are and where we are, this is something we cannot deal, it's better to shift to decentralized exchange if you don't want to do KYC.

With small investors KYC should be exempted the developers can imposed this requirements once the maximum purchased has been invested.
Since KYC was required by the government and there's no way for the host exchange not to implement this requirement. It's still a question
if there's substitute that developers can bring to this types of investment, or they will continue the same process.

Nothing and this should never exist.

To be honest, no one would do such a silly thing, we here know anonymity is very necessary and outline for the blockchain.

I regret ever doing this to get what is rightfully ours.

We just have two choices, give our/your identity and we can use cryptocurrency freely or keep your KYC/identity secretly but you can't use them as you wanted because you will find many obstacles.

Give me one exchange, especially an exchange which can be able to change your asset (crypto) to your money fiat who doesn't ask your identity, I'll bet there is not any exchange which can do that.

Whilst, the function of an exchange is really influental because you will store your asset at there. So, you have to give your identity to use the exchange then you can feel the benefit from cryptocurrency. And also, I think there is no way to replace KYC since our concern here is our identity.

I don't like KYC and if there's a replacement for KYC so our information will not be compromised, I'd gladly support it, but right now and all the other who posted here do not have ideas or any kind of replacement to KYC, KYC is here to stay, it's the only way that exchanges can validate the identity of their users and if they are abusing their platform, and it's also what the government want on exchanges for compliant.

at this moment only kyc to prove our identity ,and there is no other ways . i am sad why in decentralized market we still need to pass kyc ,meanwhile its againts with decentralized concept which is no one could control this market. Government and exchange still have their role to protect their customer fund that saved in exchange. Someday due this kyc , government will get finance data from exchange and it could use to attract taxes.

It does exist so even if we wanted to get rid of it, it will be impossible.
We do, but there are some companies that apply centralization to their project and KYC verification is necessary for that project.
I think you should never regret it because as long as the company does not violate the privacy law, your identity is still safe even if you undergo KYC verification.

KYC with identity documents is difficult to replace because with identity documents, misuse can be minimized. Everyone who commits KYC certainly will not dare to commit crimes because their identities are known. If you want the cryptocurrency market to be regulated, I think KYC cannot be avoided so that the government can monitor the abuse of transactions

KYC probably use to prevent AML Anti Money Laundering that's why there is a need to identify if that person really exist or not. Since crypto can be used to do illegal I guess doing KYC seems the project is more legit since they allowed it because they might be registered in their government or In a SEC. As long as we know the process and the project been honest on what they need it and how they can keep our privacy then I'm fine with KYC

It is ok to share the documents for KYC&AML verification but the main concern of the crypto investors is the illegal use of personal documents in the dark web. I am fine to accept the KYC requirements, but it is very scary to see the flowing documents in the illegal sites. Scam projects can take the collected amount from the token sale and they will sell the investors data for passing the KYC on another site.

You can completely avoid them by using decentralized options. For trading I advice everyone to use DEX's like the Blocknet DEX. Been around the longest, and works pretty well for now.

I'm sure we'll see more volume on and liquidity in the coming years, for those of you who hasn't started using DEX's yet :)

The first step to do is KYC (know your company) before handing over your personal information to someone on the internet.
Who is handling the personal information provided any/all future changes when someone new will have access to it, when sold, to whom...

How I wish there is, but there isn't, we can be anonymous by holding our token but once you convert it to fiat or you become part of a centralize platform that deals with Cryptocurrency, you cannot escaped from being traced, unfortunately it will stay permanently until all of us shifted to Decentralized Exchange, which I don't think will happen sooner.

I don't think it is possible to completely eliminate the KYC process, but a solution like the fact that there is only a trusted organization that holds our information and all companies and organizations that need verification The user's identity will be passed on to the above organization. It is the best solution in ensuring user information.

I literally cannot understand what you are trying to ask. You need to verify somebodies identity and how it is possible to not use your docs. There are some apps, that have your digital identity, but you did KYC for them, so it does not matter.

Man, there is nothing that can be done when it comes to some of these centralized exchanges or projects that are requesting for our identity, it is either we don’t go for those projects or the exchange we use in purchasing them, we don’t use them that much, which means we will really have to be very selective because I doubt if we have any exchange right now that are not requesting for that KYC.

The only thing that I think would be the solution is if we can all start using the normal decentralized exchange, that is the only way that all these issue of submission of KYC will stop, but if we are still going to continue to be under the influence of these centralized exchanges, we have no choice than to continue to abide by their own policy which is being imposed on them also for government sake.

The FATF decision of June 21 this year established the general rules according to which KYC can be requested for transactions worth more than one thousand dollars. Over the course of a year, more than two hundred states must incorporate these rules into their national legislation. This is despite the fact that I'm not at all sure whether this applies to bounty hunters, since KYC has the task of preventing the laundering of dirty money and the fight against the financing of terrorism. Participating in ICO bounty campaigns, we don’t deposit our money, and therefore we can’t support KYC. In any case, KYC should not be passed by those who receive fewer tokens than the amount of one thousand dollars.

So project/developer must have really pissed you off because you sound really angry. I still think that KYC is important to control money laundering and other money related crimes around the world and I also think KYC should not just be for bounty and surrounding hunters only but for project developers/owners as well. Including exchange operators to bring more balance

The problem about KYC is how it could fall to the hand of irresponsible people and being misused. your KYC will be saved by them forever and people could change their mind as the time goes. Maybe they are now legit people and will not share your KYC but they could turn into a wicked person and sell your KYC for few cents in the deep web just for a little money and that's what I'm afraid the most because we don't know about people's mind. The reason behind KYC to prevent money laundering is good but the requirement to force use submit our ID is ridiculous.

KYC for just of few bucks, I don't we are in the point that we need to risk our true identity just for this. KYC is a big deal for everyone who wants to keep anonymous nor we need to take the option just to get our money.
Asking for any ideas to replace KYC, I don't think there is a need better of not asking any documents from us unless, for some (important) reason just like withdrawal of 100BTC, it might be for safety assurance and to help verify the person asking for this amount.

Kyc should be implemented on both parties and not just the participants in bounty or an ICO. To show legitimate approach to anybody this should be done wisely, to ensure how faithfulness from investors and project developer could work together for the success. This purpose shows transparency and I think this is fair, because since kyc implemented, this has been abused and even though they're complying the requirements that doesn't guarantee safety on their investments.

KYC on a scam project is not good at all but for sure we already have fill up many information sheets that banks are asking with us, well I can its more safe but yeah if there’s a good replacement why not, and if its for the good of everybody then it must be stay for good. KYC brings big fear to those who are new in the market, if the exchanges asking for your KYC always take car and ask the community first if its safe to do so.

Sometimes, the team of a project might not demand for kyc at the beginning of bounty, most especially when it comes to bounty campaign, but when it is moving towards the end, then the demand might be put forward. This is most times done to reduce the number of those that will be rewarded. Knowing fully well that some will reject such development.

I have joined various bounties but KYC requirements in some bounties not for all and if you are investing in IEO than this is compulsory requirements, these requirements are implementing by regulators may be in future for all projects and also a suggestion by FATF. KYC idea can be replaced with only video verification for bounty hunters.

The original purpose of KYC is to know and monitor the legality, eligbility and capability of the investors. Yes anonymity is gone and we can't be purely invisible with all the processes in KYC. It's just that KYC is mandated by most  project that govern some bounty which they implemented even on hunters that is not investing. That's totally unfair but when you joined a bounty connected to IEO I think we all dont have a choice for this but to comply.

I think that people are just over emphasizing this kYC issue and making it look like it is a real killer. KYC regulation has been in existence for a very long time and I have not really seen the negative effect of it to anyone or how it has destroyed people.

I am almost going to my 40 now and I have been submitting my information since I was 19 is when started looking for data entry project to do and I can really remember how many sites that I have dropped my detail with, which till now, I have not seen anyone used it against me. KYC is very important and they will not because we want to protect our identity be aiding those that are using it illegally for things that should not be used for like scamming people and also laundering money.

You spoke well, thank God we still have few good projects that are not KYC involved, among the few we will still choose. I don't know any other replacement for KYC. maybe our BAnk Verification Number and Passport.funny enough, the KYC doesn't guarantee that you will not have some issues with some projects. Although we are still in the understanding that they intended providing more authentication of our identity to reduce fraud and scam.but it is still hindering many from smooth access to projects.

Personally I do not have any problem if we have to go through KYC when you are converting your cryptocurrency to fiat, that is their system and they can do whatever they want in the system they control, what really bothers me is that you need to go through KYC when you are using bitcoin or ethereum to buy another coin, to me that goes against the principles and the goals of cryptocurrencies in general, that is why I have never done that and I will never accept to give up my information to buy a cryptocurrency.

Every human has got a unique finger print, and this can be used as a verification. Almost every country have the finger print of every human in their data center. When we are supposed to do KYC we can just scan our finger prints. If some issue has been caused by that particular person the details can be gathered from the data center of the government with the fingerprint. Every government won't agree to provide information, but this way it is possible to eliminate KYC.

ecxx allows Singaporeans to join the exchange by using their Singapore national ID number, more exchanges may do the same.

KYC is actually a way to avoid fraud and to protect yourself from fake accounts, with KYC you can easily recover if one day you cannot access your own account.
In my opinion KYC is not something that needs to be debated too seriously, they just want to avoid washing and comply with existing regulations.

KYC is not killing any anonymity of crypto, only drug dealers or criminals will go against KYC because KYC is the only way to stop money laundering, sorry pal its too late for that and now to even participate in any IEO sales you have to go through KYC process

Fingerprints and even DNA impulses are even more dangerous than previous KYC models.

if it is legal and guaranteed by the local government then it's not a problem, but dangerous to use in global business, especially if it's only for IEO. the time has come for the government to work together to directly monitor the data ieo on the exchange organizer, at the moment I do not see that it is valid. If indeed the two parties have collaborated with each other, in fact KYC only needs a bank identity, to then be subject to tax and necessary matters.

I think it is the best way to avoid some users that have a fake account of have multiple accounts because there are lots of people joining their multiple accounts in the same project. It is actually unfair because they are taking advantage of it. It is the best way for a project to recognize who is making money with their multiple accounts. I don't know how they track that maybe in the IP address or what but it is awesome, making transaction fair for those who do their tasks well like me. With this KYC, the project can know the people they are giving rewards or accessing their system.

In my opinion, there may be many new ideas to replace KYC. But we need to choose carefully and not be subjective about harm when replaced. Especially there should be safety measures.

Are we really anonymous? Do you visit this site in TOR browser on a public computer? Do you use only privacy coins such as Monero for payments?
Only people that are not educated in the security believe that they are anonymous, but, if someone wants to reveal your identity, he will do it even if you are good in hiding on the Internet.

Personally I do not like the idea of doing KYC for bounties since doing bounty doesn't really entail one must invest. Funny enough some bounties which paid off very well didn't require KYC, and for some after going through KYC process, the end reward won't worth it. Well, it's always stated if KYC is required for any bounty, hence it's optional to do it or not. Talking about something that can replace KYC, it depends on the intention of asking hunters for KYC. If it's for official matters, I have no idea what can replace it. If it's to reduce bounty cheats, a proof of authentication will do.

The KYC polemic is indeed very pleasant to discuss because it concerns the privacy of a person with the existence of KYC. which one might ask whether it can be held responsible for not misusing someone's identity to be abused? this is another matter. I agree with your opinion to reduce the misuse of many accounts by someone, but whether there is no other way that is more acceptable by not causing new polemics again.
because if someone's identity is given to someone else that we don't know is used to harm those who have an identity, is this not a new problem anymore?

I think the Know Your Customer(KYC) concept has somehow defeated the anonymity being talked about in the crypto ecosystem because it exposes sensitive details of users/participants. unfortunately, most projects always use it as a criterion before one can participate in the IEOs/ICOs though the days of ICOs are gone. In terms of bounty, it's been used to fish out some cheaters and allow fair participation of other hunters. The part that annoys me the most is holding your ID with your face showing also writing date on such piece of paper. I do not see KYC replacement in the offing for now

You have made a very salient point here because if someone's identity is used to perpetrate an illegal act, the identity owner will bear the brunt and we have seen how devastating it turns out to be when vital and sensitive information of individuals fall in the wrong hands. Part of my fears, for instance, someone might use another person's identity to commit crime without the person knowing, you might now want to travel and get arrested at the airport for example, maybe your name already on a wanted list for a crime you are unaware of and as such exonerating oneself will be difficult. Maybe another method should be deployed which i can't really fathom out now.

Not that I know of any alternate approach for KYC. However KYC is good for large extent. This would definitely avoid large chunk of scammers away from the crypto field.

Yes, quite an interesting idea,but let's just say not everyone has a smartphone with fingerprint support.And applications corresponding to such requirements I have not seen.Perhaps in time this is exactly the procedure KYC will be.

It seems to me that we can hardly replace something KYC. As much as we would like it, but in most cases we will have to deal with it. If you do not want to go through this procedure, then you can simply not participate in the bounties that require KYC, and use decentralized exchanges instead of centralized ones.

I'm against the KYC procedure,it doesn't solve the problems of scam. There are many ways to abuse personal data. And if there are sellers of personal information, then there are buyers. And not the fact that the KYC is provided by real particular participant, and not for the other. I think an alternative to the KYC would be   Individual Taxpayer Identification Number

Why is everybody so scared about KYC process? None of us is James Bond who needs to hide his identity, it is a very simple process of doing a picture with your ID, nothing more. Besides I can hardly imagine something that can replace this process.

Crypto currencies were decentralized but market is not since it is filled with centralized services and platforms like exchanges,gambling sites,which were owned by someone.They are asking KYC for reasons like to avoid criminals from getting advantage of their project,laws of their jurisdiction made it as mandatory.I really don't think it is mandatory to know who are using cryptos when its decentralized so avoid those projects from investing.

I really don't like KYC, if there's a replacement and it will not compromised our identity, I'd like to see how we are going to do that, but as long as the site, where it's asking a KYC is legit and will not sell your identity in the black market, then I'm ok with you, I'm ok doing sending my passport and my selfie, and so far I have done it in the top projects and exchanges that I invest and trade.
It's also one of the safest and secure way to recover your account in case of a hack.

There's not really much that can substitute for a KYC accept a common digital identity of some sort that becomes an industry standard, but there isn't anything like that yet, but as the need for compliance grows there may soon be some sort of common standard adopted by startups and exchange

There is a FATF decision of June 21 this year, which stipulates that KYC can only be applied if the transaction is worth more than one thousand euros. Such a decision is mandatory for more than two hundred states, and these states are obliged to introduce this decision into their national legislation within one year. This applies to investors in ICOs and IEOs. For participants in ICO bounty campaigns, the question of passing KYC is still open, since we do not invest our money, and in this case, passing KYC is simply meaningless and contradicts its objectives. It seems to me that you just need to implement the FATF solution.

The only acceptable replacement for the identification procedure can be face-only identification, i.e. video identification.
The system remembers or draws your face, however, difficulties may arise with similar people.
The retinal scan can also become a replacement in the future, the best thing is the disclosure of personal data during passage.

that will always need the KYC implication. remember Face identification just to make sure if you are the same person with the documents that you have already provided to the team. It will never work to implement face identification only. The exchange site needs your face as a requirement to know your identity through your document