KYC abolition is not a niche, but mainstream: millions of users are already here

[nemesis_incarnate]

Considering the alarming advancement of AI it's a risk to often share your documents on platforms, internet never forget even when deleted sometimes wayback machine can always help the tech guru's to recover it.
Moreover it's easy to clone document this days using AI including biometrics and the system may not be able to detect it.

It's a never-ending battle of AI versus systems that seek it out.

One advances - the other will and have to follow.

[Darker45]

Thank you for reading. This article was a moment of reflection for me on the topic of anonymity, and I hope it was the same for you.

Keep your document information safe online.

How exactly? Or is it not that once we submit them it's already beyond our control? Moreover, aren't we agreeing to the terms and conditions of exchanges, casinos, and other online services allowing them to share our personal information with authorities as requested?

Apart from this, KYC isn't a thing exclusively associated with crypto. Don't we have bank accounts? Aren't we sharing personal information with our insurance provider, hospital, church, organization, school, and others, all of which keeping the data in a hot storage?

I wonder how one could stay anonymous in this digital age.

[o48o]

The average person probably sends their documents to about 20 different services. Maybe more.

I wonder how many copies of their ID are floating around.

So it's not like mandating KYC everywhere is going to actually solve anything. The fact that these platforms already have enhanced, undisclosed compliance measures even for users who have already completed KYC just shows how useless collecting everyone's identification is.

Useless for whom? And which alternative method you think would be a working solution when it comes to complying with AML laws?

I mean some sort of identity authentication based on ZK proofs could solve the issue of stolen id data. But even if there was a working prototype for that, it would take ages for it to get widely accepted and trusted method in anywhere. So meanwhile, while waiting for better tech, we still need a solution.

There are some bank authentication login possibilities that might work in some regions, but they aren't generally accepted world wide. Those wouldn't work for bankless people either and for some reason people in this space seem to trust more in CEXes then banks when it comes to financial institutions.

[Bastketsrus]

The average person probably sends their documents to about 20 different services. Maybe more.

I wonder how many copies of their ID are floating around.

So it's not like mandating KYC everywhere is going to actually solve anything. The fact that these platforms already have enhanced, undisclosed compliance measures even for users who have already completed KYC just shows how useless collecting everyone's identification is.

And it only takes one hack, exit scam or something similar for all those documents to go into the hands of hard criminals who then use them to completely and irreversibly destroy your life.

It is really a scary thing but people still trade in security for comfort. As if though any of these platforms can or should be trusted in the first place.

I really do not understand their thinking.

Considering the alarming advancement of AI it's a risk to often share your documents on platforms, internet never forget even when deleted sometimes wayback machine can always help the tech guru's to recover it.
Moreover it's easy to clone document this days using AI including biometrics and the system may not be able to detect it.

Yeah, that’s the scary part. With AI it’s getting easier to misuse documents, so sharing them everywhere is risky. That’s why many prefer platforms like bitcoinbetting where less personal info is needed.

[Dunamisx]

Avoid KYC and be free, it's all because of the freedom we needed.

When we are making use of the centralized platform, then we should know that we can't escape anything that has to do with kyc, because they are going to request such from us, we also know the difference between a custodian storage and non-custodial storage and how do could this affect us, it is important of us to do the normal how to do the right thing as what is needed to be able to achieve while doing such.

[EL MOHA]

Honestly that’s just the reality. Since Bitcoin itself can’t be controlled the next best move is to pressure the places users rely on mainly exchanges and then monitor activities from there. Exchanges that don’t follow the rules end up facing heavy penalties so in most cases they’re forced to comply whether they like it or not. Exchanges are never to be trusted but most users don't seem to know the value of privacy and dangers of KYC.

Seriously I doubt if they actually careless but most people definitely do know the dangers of actually providing KYC to centralized exchanges, I can argue on that many do know the danger and just tries to turn a blind eye or rely on them that they won’t actually leak their information out. If you read most of the Terms and conditions most of this exchanges have lied that they are not sharing the information with any third party, but who believes that when the information is actually online already.

This same thing goes to the keeping of your bitcoin on the exchange either they ask of KYC or not, coins on custodial platforms are seriously in danger of getting lost either through any means what so ever but many are actually believing the all SAFU thing exchanges put out to trust them.

[btc78]

The average person probably sends their documents to about 20 different services. Maybe more.

I wonder how many copies of their ID are floating around.

So it's not like mandating KYC everywhere is going to actually solve anything. The fact that these platforms already have enhanced, undisclosed compliance measures even for users who have already completed KYC just shows how useless collecting everyone's identification is.

And it only takes one hack, exit scam or something similar for all those documents to go into the hands of hard criminals who then use them to completely and irreversibly destroy your life.

It is really a scary thing but people still trade in security for comfort. As if though any of these platforms can or should be trusted in the first place.

I really do not understand their thinking.

Considering the alarming advancement of AI it's a risk to often share your documents on platforms, internet never forget even when deleted sometimes wayback machine can always help the tech guru's to recover it.
Moreover it's easy to clone document this days using AI including biometrics and the system may not be able to detect it.

i feel that ai is a smart move for people to not even notice that their data is being taken and they are giving it willingly. when people make trends related to ai, they feed information to it (documents, and even just speaking to it alone) and people don't even realize this. they will just realize it in the future when their data is leaked.

[Ishicryptic]

We were cool with KYC requirements before Bitcoin opened our eyes to the possibility of freedom and privacy, now we want our anonymity but we cannot deterch ourselves from laid down centralized systems. The banking system, exchanges, casinos and online platforms have to know you personally before they can admit you. So what we can do is only take advantage of decentralization wherever we can like holding Bitcoin in none custodial wallets, aside from it we are more or less monitored because of our details in centralized files.

The dangers of KYC is that technological advancements can make it possible for hackers and scammers to steal your information and use it against you even stealing your coins. We hear about hacks on sites with our details and they will steal our emails and send messages to us impersonating the hacked site. Don't click what you're not sure about online and verify that you are dealing with an authentic site before responding to a request.

[PrivacyG]

i feel that ai is a smart move for people to not even notice that their data is being taken and they are giving it willingly. when people make trends related to ai, they feed information to it (documents, and even just speaking to it alone) and people don't even realize this. they will just realize it in the future when their data is leaked.

People are uploading videos and photos every single day about their life.  They have been feeding the data center and algorithms whether AI or not for many, MANY years.  In fact.  Have we all not fed the beginning of AI by completing Google robot challenges?

They will not understand.  What matters is the temporary fun of being replied to by an AI bot.  These were not 'smart' moves.  Do you remember people pretending to be game characters and live streaming them selves many hours a day clowning and degrading them selves for some Money?

They are just too stupid.