I remember Dan Larimer - when he was still at EOS - launched with big expectations a Twiter-like(?) platform that required KYC.
In the meantime, Dan Larimer is no longer at EOS, EOS is hardly what it used to be, and that platform is not the social media platform he envisioned, instead one for NFTs, still requiring KYC on withdrawals (they say upfront at signup you need KYC if you want to withdraw money).
Governments surely love KYCs, AMLs, and all these 3 letter words that enhance their surveillance capabilities. Hackers too, for the wealth of information they can get their hands on.
I believe it's been a few years since I went through such a process. I avoid them because I consider them degrading in the first place. The KYC process started to resemble more and more with being taken a police mug shot front and side.
The last time I went through one of those (maybe I didn't even finish it), it went something like this:
- you send copies from a bunch of documents, including your passport/ID or something equivalent
- you were taken a picture holding your ID (you deserve it, you thief, what if you send the picture of someone else's ID?)
- you were taken head pictures all by yourself (front, turn your head left, turn your head right, no behind?)
What am I saying mug shot? This is much better! Police should get upgraded, they are in the stone age! KYC kicks ass. When will a fingerprint be required? But that's old school. When will DNA be required for KYC?
Of course, if you are the subject of the KYC, you may start to think what is the difference between you and a criminal? I know: you are the criminal they haven't caught yet.
Here's the interesting part: you, as a mostly honest citizen, are much easier to catch than a real criminal.
Why risk trying to catch real criminals, when they can have a full world of potential criminals to monitor?
Hmm... I wonder if you guessed I'm not really fond of KYC. :)
Are you?
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Crypto gives people freedom and anonymity, KYC takes it all away.
Hmm, what happens when you have an abomination like crypto with KYC?
Total control.
We could all do without the KYC. Just let us keep our stuff anonymously. Let us have a chance against big money without being constantly taxed and priced into oblivion.
They aren't protecting our identities against theft, they are protecting themselves against us.
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The sad thing is that they can, and they'll keep pushing it further and further.
I love the way you accurately describe the thing.
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I agree and I'm not overly fond of it either. Next they will want a DNA sample, stool sample, and implant a chip with GPS tracking. Ain't KYC great?
They don't need to implant a chip for GPS tracking. They have the phone. :)
Sad but true, we already have GPS trackers attached to us.... sad...
i'm with you all the way. ##ck KYC!
This is what i was gonna write about when you asked about seeking legal advise crypto matters a while back. i never wrote to you, apologies.
If you don't KYC - even pseudo anonymously like most of us do on Hive, then we should not need any legal help.
Did I write about seeking legal advice on crypto matters? Maybe I'm getting older, but I don't remember... :)
Oh, i think it was @anomadsoul, sorry :-)
KYC has caused more harm than good here in my location
I know what I am saying
Depending on who gets their hands on this kind of information, it can become very dangerous, literally life-threatening.
I totally agree with you. For KYC, a person has to work in a hundred ways, then it is done. And if even one of these things goes wrong, it's not an accept, the whole thing has to be done all over again.
It is that too, a process that sometimes fails without a reason.
Nice rant, Adrian.
The world's governments want to know everything they can about us. They are more concerned that we might make a buck and them not know about it than they are about catching the real criminals who can hide below the radar.
It is kind of the same here in the States with firearm registration. The only information they gather is on law-abiding citizens. The criminals buy their firearms in back alleys.
It always seems that those of us who just want to be left alone always end up being screwed.
!CTP
!ALIVE
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Of course, because that's easy money compared to fighting real criminals.
Someone I know wanted to have a firearm at some point. He gave up pretty quickly after learning the hoops he needed to go through to hold one.
How else are people kept within the slave-master boundaries, if not by continuous reminding of who's who and the consequences they face if they don't do as they are told?
I am in the same boat. I hate everything to do with KYC and aim to avoid it. Unfortunately that is not always the case. Applying for a passport, a bank account, a visa etc. Everything now goes through the AI trained process.
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Yeah, those you can't really avoid, lol. Damn, I hated being fingerprinted for the passport.
Finally, we agree on some topics! 😃
Btw, I think we have had this already for years with our fingerprints on our mobile phones... To unlock the phone, or some apps... :)
C'mon, we agree every once in a while! ;)
I don't! I have a smartphone from the stone age, lol.
I am not a fan of KYC but more and more centralized exchanges are requiring it. I hope this changes in the future and I think there are better ways to verify people. At this point, I think they just want our data.
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They do want our data, that's obvious for a long time. They also don't care if it's degrading for the person going through the process, or maybe they make it like this on purpose.
KYC meaning Know Your Customer? hmmmmm. I agree it's a mug shot @gadrian. I will even get accused by all this protection of being not me! Yes go get the real criminals and leave us alone. I totally agree that it's getting so ridiculous the protection that you can do anything without your own protection accusing you. For example your debit card freezing at the grocery store. How embarrassing. I withdraw cash for that one. It's nerve wracking.
Have a great day and evening!
Barb 😆😆
!BBH !CTP
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Unfortunately, Barb, it's not about protection. That's the public justification used behind which lies the desire for unrestricted surveillance and control.
OK @gadrian thank you for the comment. Yes I am not surprised.
Have a great weekend!
!BBH !CTP
KYC is a pain.
If pain was all KYC is, it would probably be better.
@tipu curate
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KYC, like all government crap, is misnamed deliberately. Does the government care if you know your customer? No! They care that THEY know your customer. !BEER
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Couldn't agree more with that!
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Government: "If you are not doing anything bad why refuse KYC?"
rzc24-nftbbg: "If you really believe that I am not doing anything bad, why do KYC in the first place? The fact that you want me to undergo KYC assumes that you think I am doing something bad. And besides it is not me that does a bad thing, but you. My refusal to undergo a KYC is my way of protecting myself from bad actors like you."
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What's sad is that I hear regular people who are supposed to be smart, propagating the question you attributed to the government.
Yeah. Can I describe them as "dumb smart?" 😅
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