Now it looks like you really took the time to a proper investigation.
However, here are my investigation results:
Now my.electroneum.com needs KYC, this is ridiculous.
Did you ever do a serious business? Buying toilet paper completely anonymous only works at your local toilet paper dealer.
Whenever you do business online, i.e. ebay, Amazon, Facebook, online banking, you always have to put your name at a minimum as well as address details and some form of payment.
So, no. It's not ridicculous, it's just serious.
The electroneum ltd company needs your full personal details to make cloud mining with smartphone for a small amount of cents per month!
Nope. Only if your total amount is or was or will be (based on Amazon AWS analytics) above a certain treshold in a certain timeframe.
For further information about the tresholds, please refer to the jurisdiction of your local neighborhood.
(via yoti, just another bankrupt british start-up company with a negative net worth of 27 million pounds)
Did you miss the article, that Yoti is even being used by the Scottish Government and is being implemented on hundreds of websites proving the age of UK residencies?
I have to admit, I did not find any financial information about this private company. So I assume you are of of their employees? Or how do know whether or not they do negative business?
The coin is semi centralized and fully controlled by electroneum ltd
True. The instant payment system as well as the web wallets is being hosted by AWS but under the control of Electroneum.
But that has never been a secret and is also true for millions of other websites you are probably working with. (i.e ebay, Amazon, Facebook)
and chinese mining giants.
Well, there has been a time when most of the hashrate came from a chinese mining pool. That's true.
But this information changes rather fast.
Currently most hashrate comes from the Netherlands.
The electroneum ltd has contracts with chinese mining giants for cheep mining in China, that's why the coin does not have the monero algo CryptonightR and has cryptonight7 an ASIC mining algo, because they have to have mined the coins in order to share free (!) to smartphone cloud miners.
All the ETNs that are being distributed through the cloud miners were premined. Which is and never was a secret at all.
No need to pay money to anyone to have them mine any coins for that cloud miner ETN pool.
In regards to the hashing algo, Electroneum is based on the original monero code which is based on Cryptonight.
I'm pretty sure you meant that, right? Because everybody knows, there's currently no Asic available for Cryptonight7.
The whole electroneum crypto project is for failure after the continuous Ethereum crash and the british economy crash after brexit.
Electroneum has nothing to do with Ethereum.
The electroneum coin is based on ERC20 tokens.
Nope, Electroneum is a coin based on its own blockchain.
And as you mentioned yourself above, it's even a completely differnt Hashing algorithm.
Ethereum is Ethash which is based on SHA-3
Electroneum is based on Cryptonight.
So they will decide to sell your full personal details that they have acquired via KYC, for marketing purposes if it is needed.
That would be against GDPR. Since they do serious business they have to honor the law as well as everbody else (i.e ebay, Amazon, Facebook)
Your personal details have value don't sell it for just a little cents to suspicious start ups.
I fully support that statement!
But Electroneum is not a suspicious startup. They are a real company.
Or are you refering to Yoti again? Use Google. They are a real company as well and aren't suspicious at all.
