KYC system at some program!

[JohnnyDaMitch]

Yes, i never join those programs because we do not know who is going to hold our data, that is the main reason of why i think that it is better to avoid those bounties/airdrops.

[Tlongbottom]

There is a risk for sending your data anyway for any reason. It makes sense for large transactions were you are sending fiat in exchange for tokens. There are anti-money laundering laws that go along with this. For bounty programs and especially airdrops, it is crazy to be that people would send their personal documents to projects that could potentially misuse your information. Stay safe out there, folks.

[Bro.Jack.Brown]

The threat of data use has always existed and will continue to exist. Where there is information, immediately there is a need to apply it and not always for good purposes. The fact is that a multi-level verification system exists to protect both sides from fraud. But undoubtedly we are very at risk, sending information about ourselves. The solution is as simple as usual: re-insure and re-check whether you should trust the company that you are going to send your data to.

[darkangel020716]

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

There is always risk, you are providing them your personal information which can be abused or sold to a third party.

Agreed KYC is always doing that keeping your private information is what they are doing and giving a secure detailed process in able for you to access your funds in their site, that's the advantage of KYC.

[giancarlo01]

in recent taim, increasingly require KYC ICO - without it you won't get the reward. and Yes your data can be used by scammers.

i agree with them,KYC serves as proof of participation. This is something that isn’t only required by governments and regulators, but also by the banks, large corporations, and public bodies. but im talking about the benefits of kyc. kyc is  to protect you, as token buyers, from the possibility that anyone could claim these funds aren’t legitimate.

There is a risk for sending your data anyway for any reason. It makes sense for large transactions were you are sending fiat in exchange for tokens. There are anti-money laundering laws that go along with this. For bounty programs and especially airdrops, it is crazy to be that people would send their personal documents to projects that could potentially misuse your information. Stay safe out there, folks.

[Pain Packer]

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

Well KYC helps a lot for determining multiple accounts and to avoid scammers. It's a great advantage for some project makers to know the details of their customers 'cause it will help them a lot but for us, it's not a great idea.

I don't want to send my information to a unknown project makers because they might it use for fraud.

[Kang Bahar]

For the function of KYC, try to read this: https://bitcointalk.org/index.php?topic=454795.0. That is an explanation of AML/KYC.

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

- Yep, KYC has a big risk. The risk of your data which is a possibility to leaked and misused by irresponsible parties.
- I think so. You should avoid this system in an unclear program.

Well KYC helps a lot for determining multiple accounts and to avoid scammers.

~

I don't want to send my information to a unknown project makers because they might it use for fraud.

Agree.
That's why I always avoid the KYC system. It's very terrible

[Dergansion]

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

Well KYC helps a lot for determining multiple accounts and to avoid scammers. It's a great advantage for some project makers to know the details of their customers 'cause it will help them a lot but for us, it's not a great idea.

I don't want to send my information to a unknown project makers because they might it use for fraud.

I know there are currently several projects ico after asking the system kyc they asked us to submit a number of eth when we claim token bounty program.whether it is the terms that real or is project a scam with a developer when we are asked to submit a number of eth

[Dergansion]

The threat of data use has always existed and will continue to exist. Where there is information, immediately there is a need to apply it and not always for good purposes. The fact is that a multi-level verification system exists to protect both sides from fraud. But undoubtedly we are very at risk, sending information about ourselves. The solution is as simple as usual: re-insure and re-check whether you should trust the company that you are going to send your data to.

if for verification of data about the real account that I think is very helpful and I agree.however there are some projects that I ever follow.after the process of the kyc they asked us to submit a number of eth to take a token of the bounty program.whether it is the project real?
I think that is scam project when we must send eth to their project.

[ulum5]

- is there any possibility of misuse of the data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

- Although the phrase "know your customer" may seem insignificant to most people, it has a very important meaning in the business world. The process of knowing your customer, otherwise referred to as KYC, is what businesses do in order to verify the identity of their clients. The term KYC can also reference the regulated bank's practices that are similarly used to verify clients' identities.

Banks and companies of all sizes have become the big supporters of KYC. It is increasingly common for banking institutions, credit companies, and insurance agencies to require that they provide them with detailed information in order to ensure that they are not involved with corruption, bribery, or money laundering.
- the possibility of misuse of data will always exist. but certainly the principle of prudence must always be held firmly in any case
- yes if in my opinion ... in following a program that requires a good system kyc we are looking to know what kind of program. whether the program is benefiting us or vice versa.

[castiloros]

Bounty use KYC will not be too interested in my follow unless the results are great. This would be highly risky especially concerning the Affairs of personal data. Moreover, the presence of a third party will certainly make the data transmitted will be very prone and are at risk for abuse. so for advice only better don't when the bounty by KYC requirements.

[macchiato]

KYC or Know Your Customer is a policy used by most ICOs today to verify the citizenship of its participants since some countries aren't allowed to join particular projects. KYC is advantageous only to the developers because they get to filter their participants according to their criteria and it is a disadvantage to participants because their personal data are at risk.

[asongotan]

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

There is always risk, you are providing them your personal information which can be abused or sold to a third party.

if so .. what about the bounty program that we follow .. but at the end of the program they use the kyc system in the distribution of coins result from bounty program. do we just leave it or how do you think

I am in your position, I join bounty and at the end of the campaign, rewards can be accepted only if we fill out the form kyc provided by the project, it is a risk there will be but as long as we do anything best, we will be able to face all obstacles that exist, on the one hand we are harmed with kyc but on the other side the company also not willing to bear the risk, the main reason is multi account, with kyc we can not do anything, unfortunately kyc known after the end of the campaign or at the time of distribution of rewards

[escalante28]

what is the function of kyc system .. will there be any problems or risks that we have after we send kyc on a program?
- is there any possibility of misuse of our data on certain things..or what about the action of prohibiting the law on our data?
-do we have to be more careful in following a program that requires a kyc system?

KYC is preventing money laundering and reducing fraud. It is important to verify the identity of the client in some reason such as preventing some financial  crime. There are also risk in KYC because we don't know how secure our profiles. It can be use for self interest like identify theft.  Remember the time we submitted our Identity they have our names that can't be change and they have our addresses.  The question is how safe we are from them?