ICO Projects with KYC are contradicting privacy efforts of Blockchain

[X-Infinity]

Knowing your customers (KYC) is a controversial topic when it comes to privacy standards in the World of Crypto. However, it serves great importance when unabused. By knowing who their customers are, companies can help prevent crimes such as money laundering, bribery and corruption, fraud, identity theft and terrorism. KYC is designed to filter out those individuals with no real interest in the ICO and only care about laundering their money so that it is hard to trace its true origins. https://medium.com/@XIF_Official/the-importance-of-kyc-in-the-crypto-world-a40ff02b8d57.

[limtjoehua]

Because privacy is the authority of every person that must be protected, can the company provide a guarantee that the user's personal data can be secure? What if it is leaked, stolen and misused? Who loses? Definitely their users.

[florac9]

I'm not that of an idiot to share my identity because of any ICO ,I always stay away from them ,who knows maybe in the future when digital has gone to higher levels your identify might be used for anything illegal and put one at risk ,moreover no guaranteed that it won't be leak,I'd stay away from any ICO requesting KYC

[Jadesola]

Giving out identity just because of ICO might not be the best,but if we can be careful enough not to give our identity to those that will take advantage if us then is not a bad idea after all.

[GrabityManager]

Know Your Customer

Thats good.

[Saisher]

It really is a big issue in the ICO investment, but I will hesitate to do KYC if the company that will ask of it are not compliant to the government where they are working on, KYC is ok if the project is successful but what if you do KYC and the company is nowhere to be found after a few months?