KYC Safe or Threat

[sull.kureen]

KYC faced the real security issues. Someone can steal your data by hacking the platform and use it for criminal purpose. But in other hand, crypto world still finding the best ways how to protect crypto transaction form money laundery, human trafficking and drugs transaction.

I think, its a big responsibelity to keep KYC data safe. If not, crypto will had bad ending.

[paxmao]

KYC faced the real security issues. Someone can steal your data by hacking the platform and use it for criminal purpose. But in other hand, crypto world still finding the best ways how to protect crypto transaction form money laundery, human trafficking and drugs transaction.

I think, its a big responsibelity to keep KYC data safe. If not, crypto will had bad ending.

There are many projects out there that can prove identity such as The Key or Civic. The problem is that the ICOs are not managing this issue correctly and that makes them loose prospective investors. Like myself.

[markj113]

Of course its a threat.

Half the large companies cant secure personal data, most exchanges have been hacked at some point so what makes you think your personal I.D will held securely.

[steve_rogers]

I think it's a great way to earn some extra cash by solving all gathered personal data to black market.

In my opinion KYC brakes one of the main idea of crypto-world - anonymity.

Anonymity is in trend now, and it worth a lot.

[CoinOnTheBeach]

KYC is often one of the requirements for the platform or exchange to operate legally within its jurisdiction.
sometimes there is no choice.
either the platform is compliant or it risks being closed down / deemed illigal.

[CryptoNewbie18]

Of course KYC is a threat.

The FIANCIA project in its spreadsheet published the personal phones of those who passed the KYC.
Does someone else want to go through this procedure?

[osasshem]

It is the right of the ICO team to keep close all the details of their customers, and if they can't, then, they are seriously imposing threat to people in their project.

[wenxop]

I think they should use another way of doing the KYC because lately there have been many accusations about several projects, ico, and it is not known what would happen with the data that is sent and what use they would give in case of fraud and theft of the identities

[CryptoNewbie18]

By the way, what the community think about such cases when project team declared the KYC procedure for bounty hunters post factum.

This is acceptable? Or not?

[Mc_Moneysack]

By the way, what the community think about such cases when project team declared the KYC procedure for bounty hunters post factum.

This is acceptable? Or not?

I think this is absolutely unacceptable. If a bounty campaign does not explicitly state at its beginning that it will require KYC, such conditions should in no way be introduced retroactively. The problem is that you won’t have any leverage on the campaign managers. You have actually entered into a contract with them once you are accepted in the bounty campaign and it can’t simply be altered unliaterally by introducing KYC requirements. However, it will not be worth the effort to enforce your right.

[Ashimwe]

It matters alot which type of crypto project you giving your details ,if it's a legit exchange.....i feel it's a bit safe as it's protecting my funds but it's like a threat giving your kyc to these many ICOs coming out everyday.......i feel like they will use the information for their own benefit and to our own demise

[server]

I think one should never use their real identity for online KYC.
Only this way you can protect yourself against abuse.

It's obvious that a lot of the ICOs out there have one goal: stealing your personal data.

A quick fix could be splitting online and offline personal data.
Online profile should not be valid offline and vice versa.
This will stop offline abuse of online personal data and vice versa.

[Mc_Moneysack]

I think one should never use their real identity for online KYC.
Only this way you can protect yourself against abuse.

While this may be a way to protect your personal data I would rather advise against this, since it could have negative consequences for you. It will depend on the legal system of your home country but things like soliciting the forgery of documents and fraud immediately come to my mind.

[server]

I think one should never use their real identity for online KYC.
Only this way you can protect yourself against abuse.

While this may be a way to protect your personal data I would rather advise against this, since it could have negative consequences for you. It will depend on the legal system of your home country but things like soliciting the forgery of documents and fraud immediately come to my mind.

Exactly, personal safety first.

[B1tUnl0ck3r]

But in other hand, crypto world still finding the best ways how to protect crypto transaction form money laundery, human trafficking and drugs transaction.

I think, its a big responsibelity to keep KYC data safe. If not, crypto will had bad ending.

I have been thinking about this issue for a while... And came to the conclusion that it isn't the tool that is the problem but the user.

A good example is Roger Stone, once his father was dying from cancer, he chose to broke the law and find weed for his dying father, to alleviate his pain, as it worked better than opoids on him.

So, do you think this man is a criminal for helping his own father suffer less before dying? if you do... good luck.

But to comeback to the original problem, it's not the means to transact on things against the will of another one (human trafficing, terrorism, etc), but the act. And an act can't be accomplished by a transaction, by this I mean it's the act of an individual, and this act (human slavery, terrorism, corruption) that should lead to the death of the perpetrators.

as you can see hillary clinton didn't use bitcoin and was able to setup the largest known criminal operation in the usa. The podestas for example, did they need bitcoin to be recognized in portugal concerning madelane mccann?

as you can maybe now understand, it's the actors that must be stoped. not the mean of payment. Stoping payment means, is just a nice feel good trick that the real terrorists, human trafficers and co will use to monopolize transactions means, and like paypal, credit card and co ban assange from receiving txs.

I hope you will understand better the enemy, and if you are it... again, good luck.

[cupCoins]

I agree with the opinion that it is dangerous. Not everyone knows how to save personal data in a responsible manner, unfortunately.
but on the account of money laundering ... it seems to me that such a sort of people will not stop by KYC

[Ginzink]

I agree with the opinion that it is dangerous. Not everyone knows how to save personal data in a responsible manner, unfortunately.
but on the account of money laundering ... it seems to me that such a sort of people will not stop by KYC

KYC is needed because of regulations. But really it wont stop the criminals. It is so easy to just get a stolen ID for them and use that.
And for us it is a security risk. So KYC is pointless and just gives us risk. Maybe for bounties to avoid someone having multiple account is where it could be useful.
Or like bittrex, which demands a selfie with todays date and bittrex written. Then at least the risk of stolen ID is reduced by alot.

[CryptoNewbie18]

The way with selfie and lettering seems in general humiliating to human dignity, IMHO 

[ScrodaPlatform]

KYC faced the real security issues. Someone can steal your data by hacking the platform and use it for criminal purpose. But in other hand, crypto world still finding the best ways how to protect crypto transaction form money laundery, human trafficking and drugs transaction.

I think, its a big responsibelity to keep KYC data safe. If not, crypto will had bad ending.

There are many projects out there that can prove identity such as The Key or Civic. The problem is that the ICOs are not managing this issue correctly and that makes them loose prospective investors. Like myself.

The Key sucks ^.^ Lmfao

[zoom_rich]

It's a danger. It's a big risk, a safe bet is to just wait for a coin to hit an exchange.