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RE: Yes or no to KYC in decentralized networks?

in #blockchain5 years ago

There's probably no way around KYC in many constellations regardless of the screaming and kicking of those who think this goes against decentralization as a whole. If you want to do business in a widely regulated environment you'll have to live with some form of regulation or your loosing access to big parts of the overall market.

Still the question becomes are these organizations, projects, businesses fit to handle personal identifiable information. We've just discussed this in another article. My answer is... in many cases they are not! It stays a dilemma for the foreseeable future IMO.

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Living with some type of regulation, certainly, is necessary to maintain order.

What really worries me a little is what they do with my personal information. That's the detail.
Thanks for the comment @doifeellucky

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