RE: Yes or no to KYC in decentralized networks?
I think one of the important features of a decentralized blockchain is the ability to remain discrete and in the course of history we have seen loads of Bitcoin, Altcoins, companies associated or offering services for them or with them come and disappear without a trace. A lot of the criminals that set up those dead companies have loads of data of people that registered with them and provided KYC for them, have we ever wondered what they are doing with our data? A lot of legit blockchain companies and exchanges have been hacked in the past, what guaranty are they offering that theirs won't be hacked? Can they provide such guaranty? And if they eventually get hacked what happened to our data? All these make me to say NO to KYC.
I think using IP addresses is a start, other suggestion includes limited biometric, Holding a notice and taking a picture of yourself. Those are some of the things I can come up with for now.
I had not thought about the possibility of hacking and stealing that information, but obviously that is within the possibilities.
It is complicated, since if it is true that the interne, the chain of blocks has come to give us some degree of freedom, possibility of breaking many borders, it is also true that the information has been put on a silver platter for many to use. in his favor, even without prior consent.
There are other options to check that you do not abuse a system, without needing to provide so much information.
Thank you very much for your contribution @ketcom
You're welcome my dear.
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