My proposal for a secure KYC system

[henry_of_skalitz]

I have to be agreed with this as well but now main problem is on many places we can't go without KYC while many peoples have no luxury to live without KYC as well just because of this acceptance is also part of cryptocurrency I personally not like this idea, but I can't live without this also.
Being living in third world developing country still using bitcoin and cryptocurrency is blessing, but due to many factors also have to accept KYC on many places because without these using of this is not easy even possible but too many hurdles. After having good information and updates about Electrum I am using this but still for few things I have to rely on few exchanges and other third parties options which always ask for clear KYC.

We do have to use CExes and such from time to time, but if you don't store most of your funds.. you are okay, imo.

[Tamedbeast]

sounds great on paper.  

But, in reality...  There is still a single point of failure.  What if the government ID server gets breached?  or a "system error" happens?  you dont just lose your ID.  You lose access to every service tied to it.

That is if the breach is even real, the government can lie about a breach just to do their thing, this days even if any mixer has a key to expose something big and the government want to get to the bottom of it that's when people will understand that even mixers can't keep them safe.

The best thing that is truly secure is not getting involved with any KYC verification.

This discussion is more than just having your coins moved away from centralised exchanges, if you have passed several KYC verifications online you are already exposed.

[lionheart78]

There is no such thing as 100% secured incormation as long as it managed by people.  Aside from that cloud saving has its own risk of data leaks.
People who are in charge of keeping the information can be bribed or even sell the data for their own benefits.  We habe read insiders leaking user information and centralized data servers being hacked.

So in a world where people can be tempted to do thing, there is no such thing as an absolutr safe-keeping of information

[abaeze]

In reality, I don't know if there is anything called Secure KYC. Why is data leaked repeatedly, if no data is given in the system. That is, if one takes one's NID card, fingerprint and photo in the name of KYC, then no matter how much secure measures are taken to do this, the data can go to anyone. So the best and most secure way is Non KYC.
On the other hand, no matter how much the government says, their information is always kept safe. If data is sold for money by dishonest employees, there is nothing that common people can do because the system is hackable, so KYC can only reduce the level of risk but cannot eliminate the risk.

[satscraper]

One of the situations might be in a digital ID system that's being run by the governments,.

Estonia has already implemented such stuff

and I think this state is not along. ^DYOR

In my view, things like this have the potential to undermine my privacy because such digital ID system may be used beyond its original purpose ^{for the aim of surveillance for instance} , so I would be reluctant to have them in my country, though the developments here suggest that I will eventually.

[Cookdata]

...and who is going to control the identifier? Definitely still the government.  They might help to make sure that bad guys do not get hold of you through your details on the internet. But, the truth still remains that the government still knows you very well.and what you are up to
 You cannot avoid KYC completely  no matter how you try to hide your identity.
Just imagine one server holding the kyc information of the whole country and it is eventually hacked.

What I know about privacy is that if you can't keep it on your own, nobody can do it better like you. The same scrappy process we are going to run over and over. The same system OP is complaining to be incompetent and untrustworthy used to be one great system the government created but over time it's weaken and not as authentic as it were when the process was started, this new proposal or rather an organized system will fail after some time.

What I know about Kyc is that no matter how the government try to push Kyc and preserve privacy it's not going to work. This are just empty promises to make it look like this is perfect but it's not. After all, Kyc is a choice, even with the privacy talks and how to make people understand the importance, people don't care about this things, not like even the government is using it to fight any crime. A law enforcement agency will trash your case because it's $10k, why introduced Kyc then.

[joniboini]

In my view, things like this have the potential to undermine my privacy because such digital ID system may be used beyond its original purpose ^{for the aim of surveillance for instance} , so I would be reluctant to have them in my country, though the developments here suggest that I will eventually.

The government definitely wants that surveillance. As open as our internet is atm, I also think it's dangerous for my government to have surveillance for everyone 24/7 because some positions are filled by people who have some questionable pasts. The chance of abuse is also high. We have high-profile protests every now and then, so I don't think they'll openly do that, but it's clear they're trying to lower the resistance from grassroots, little by little.