Have you any new ideas to replace the KYC?

[llecrf]

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

[1715018990]

1715018990

[Jercyhora2]

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.

[angrybirdy]

AML and KYC requirements can not be replaced in the projects, exchanges that are trying to comply with the terms&condtrions of the regulation. The KYC is useless for the decentralized exchanges but this type of requirement is essential for the centralized exchanges. Replacing the KYC will give an excuse to the exchange management to ask for the documents in another way.

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.

[el kaka22]

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.

[adzino]

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?

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.

[Ferris419]

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!

[target]

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.

[aomakun]

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

[Obito]

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?

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.

[o48o]

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?

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.

[sulis sudibyo]

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.

[danherbias07]

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.

[JeffBrad12]

Just don't participate in that kind of bounty. End of story.
This isn't Facebook to give away your private information to be butchered to some wrong hands. You'll be lucky when your email didn't got spammed by junk mails after that.
Well some ICOs prove their legitimacy by making themselves pass the KYC test, but I think that those tests/reviews were paid.

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.

[zeze18]

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 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.

[bandungan]

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?

[ameliana]

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.

[robelneo]

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 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.

[jets567]

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.

[poornamelessme]

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.

[Stargazer]

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

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.

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!