Would You Prefer a KYCed Team?

[coin-investor]

Recently, I am seeing some good altcoin projects that boast of having the project and the whole team passing some form of KYC. I am not, though, familiar how the whole team KYC is done but I guess this is in conjunction with a known third-party verifier. Of course, there is no guarantee that a project and team that got its own verifiable KYC will not never run away or fail as there are many variables to be considered but then again this can be helping in boosting confidence on the part of the investor. Should this be the new standard when looking for a new project to support?

I trust teams that can do AMA and webinar and their credentials posted on their true social media profiles, even that is not a guaranty that the project will be successful, they need to have a project that will contribute to the advancement of the community a platform where the community can use, like exchange or gaming, KYC is ok but the platform is more important.

[nekorakoeora]

Recently, I am seeing some good altcoin projects that boast of having the project and the whole team passing some form of KYC. I am not, though, familiar how the whole team KYC is done but I guess this is in conjunction with a known third-party verifier. Of course, there is no guarantee that a project and team that got its own verifiable KYC will not never run away or fail as there are many variables to be considered but then again this can be helping in boosting confidence on the part of the investor. Should this be the new standard when looking for a new project to support?

It is recommended to familiarize yourself with team members and get to know about their previous works and projects. If developers and founders have many successful cases, this project may also be successful. If the team has passed KYC it gives you even more confidence as then you are sure that they don't lie and they are those people who introduced themselves.

This can be a good consideration. When their team already has some successful project history then trusting for KYC doesn't matter. but if only carelessly will certainly harm yourself because it concerns a matter of personal identity that should not be given carelessly. There may be many original projects that appear and many new people just make a profit directly giving their KYC freely.

[Doell]

not really ! proof is that satoshi is unknown and although now his whereabouts are also unknown but bitcoin is successfully trusted by all of us in this industry ,but the KYCed team can help strengthen will be a better structure organizational

[fullhdpixel]

Recently, I am seeing some good altcoin projects that boast of having the project and the whole team passing some form of KYC. I am not, though, familiar how the whole team KYC is done but I guess this is in conjunction with a known third-party verifier. Of course, there is no guarantee that a project and team that got its own verifiable KYC will not never run away or fail as there are many variables to be considered but then again this can be helping in boosting confidence on the part of the investor. Should this be the new standard when looking for a new project to support?

Yes! A million times yes. What is the benefit of having a team without KYC? This doesn't mean that I will not invest into any project that I do not know the team of, it just means that if you ask me which one I prefer, a team that is KYC'ed or a team that is not, then the question should answer itself. We are talking about something very clear here, doesn't have to be KYC'ed for me to put money into, but I rather if they did. Because with a team that we all know, I can search for who they are and where they are coming from and how they are planning to make money, without that in sight then I am just trusting my gut and hoping that they are legit people.

[HashingTower]

Yes KYC and doxxed team gives more confidence to investors, they can easily invest on the project and sleep at night but I still prefer getting KYCed through IDO platforms like DAO Maker and others because they have other strict rules that will protects investors even more

[JeWay]

Yes KYC and doxxed team gives more confidence to investors, they can easily invest on the project and sleep at night but I still prefer getting KYCed through IDO platforms like DAO Maker and others because they have other strict rules that will protects investors even more

Regardless of your liking for something or Dao Maker or IDO, what is clear is that if KYC can be applied to all projects for teams in particular, it will be very good for anyone when every investor wants to get to know the project team more closely.

[irsykes]

Recently, I am seeing some good altcoin projects that boast of having the project and the whole team passing some form of KYC. I am not, though, familiar how the whole team KYC is done but I guess this is in conjunction with a known third-party verifier. Of course, there is no guarantee that a project and team that got its own verifiable KYC will not never run away or fail as there are many variables to be considered but then again this can be helping in boosting confidence on the part of the investor. Should this be the new standard when looking for a new project to support?

I think it is almost same, in every project's whitepaper they will put on disclaimer. Which we made investment in their project must already know the risk, doing it without forced by others and etc. It means if the project dead or if they get away with our money, we already in a lose position. KYC or not, if we lose we can't do anything about it except if only want to made it as personal problem, and it can cause more problem for us.

[lenovop-70]

Yes, this should be a new standard in protecting our rights as investors from a new project, it will certainly make us more comfortable in investing, although it is not a guarantee that they pass with a good predicate in their KYC, nor is it an absolute guarantee. that their project will bring profits to investors, but at least there is some hope of our trust in the company.

[Findingnemo]

Buddy, it is possible to get a bunch of KYC documents for $100 or even cheaper in the black market and you can't actually verify the credentials provided by the team is true or not so for me this doesn't add any score to their security of the investors funds.

[Williamm07]

KYC'ed team will only give you a bit of trust and still this doesn't mean they are 100% reliable, I've seen projects with KYC'ed team members that still exit scam on their investors, anyone still remember bitconnect? In that era in time many projects with real team members still fled with investors money

[Godwinpaul]

Having the team pass a KYC process is a step in the right direction. This is a concept or strategy that could boost the overall confidence of the investors. The primary issue why investors are sceptical about investing in new projects is because they sceptical about the intension of most developers who should not be trusted. It's even possible that the developers could also run away irrespective of whether their kyc is passed or not.

[MAAManda]

Recently, I am seeing some good altcoin projects that boast of having the project and the whole team passing some form of KYC. I am not, though, familiar how the whole team KYC is done but I guess this is in conjunction with a known third-party verifier. Of course, there is no guarantee that a project and team that got its own verifiable KYC will not never run away or fail as there are many variables to be considered but then again this can be helping in boosting confidence on the part of the investor. Should this be the new standard when looking for a new project to support?

Project teams who show themselves are not a reference for a project to be successful, but if they do, they want to directly tell that they are serious about running their project, because if something happens to the project (eg failure, etc.), the investors can make complaints to legal parties to process them.

I'm aware of some projects where the team exposed themselves and then the project failed, apart from that I also know the project whose team was anonymous but then the project went really well. What example? PancakeSwap, do you know the team behind Pancakeswap?

[Snappycoco]

Well that is good if the team already KYCed and yes this can help to boost their confidence to investors but there is no guarantee that they will success their project, it may be fail or will turn scam in the end. There is a high risk investing in the new project so be careful do your own research.

KYC is not about the success of the project or not, but to see the authenticity of the project team members who hold the project or who will run the project later, so this has nothing to do with the success of a project.

Agreed. But I think the credentials of its team gives confidence to its investors which leads to a successful ICO, IDO or presales and eventually success of the project itself. For an example, the standard.io team has a founder who also founded vaultoro back in 2015. His credentials are in public and his works are great too that's why presales for TST token is always successful. I expect the project to be successful too as I know that the team has the best professionals out there.