Brave browser might be looking at Civic (CVC) as KYC provider....Cha Ching$$$
I'm not a big fan of Twitter, but occasionally it facilitates some really interesting conversations.....After this weeks news that Brave was starting to pay YouTubers, the browser is expected to gain much more adoption from the 1 million users it currently has. But! There is a problem!
Brave can't just go awarding cash to anyone that has a YouTube channel. They need to perform anti-money laundering and counter financing of terrorism checks (AML/CFT) checks which begin with Know Your Customer (KYC). In the case of most big businesses, unfortunately these checks must be done to the same level as any bank or other financial institution. This means big trouble for most businesses' as the checks cause delays and other friction that disrupt what would be a quick and easy engagement otherwise.
Civic to the rescue! Yes, Civic can manage these checks light-years faster than most banks can. It functions on a trust based system that was never going to get involved in document management (required for KYC), but you know what, they see the opportunity and are doing it anyway. Once you verify with Civic or if your bank engages with Civic, the Civic app can allow you to prove you have completed KYC and this can be matched to your identity through the app.
Anyway, enough about all this talk of compliance.....Read a short but very interesting exchange from Twitter HERE
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Yes! I've been waiting for them to find a solution.. the whole KYC situation with BAT was really bugging me! I don't think most people want to use the service if they have to give up private information, but something like Civic would definitely do the trick!
Definitely! Civic is groundbreaking! I work with AML/CFT and KYC regulations regularly and have been thinking for the last year that blockchain could solve a whole lot of issues in the industry. Civic have done exactly what I would do if I was going to build a blockchain solution for KYC. I know the issues in this area well and know that Civic has got something that overcomes a lot of the most difficult issues in this area. I.e. slow and painful duplication of sending documents by email to every different provider.
I think the idea is fantastic and I think I will be a user of the service or a similar service. But as an investor I never really dared touch it, I don't see the value proposition too well :-/
Also I am too thinly spread already... this latest Bitcoin bull run hurt and made me realize maybe I need less alts, not more
I hear what you're saying there! Although! A few weeks ago I started getting a bad feeling about Bitcoin as the build up to 2X started, so believe it or not....I put all of my BTC into NEO, ARK and a few other alts. I'm not sure it was based on technical analysis (70% intuition TBH), but the net result has been that I've added 30% to my portfolio in the last 10 days or so. I also bought back some BTC at $5,500 last weekend as I offloaded the last of my BCH. I could sell the NEO I bought today, but it's actually one of my favourite holdings due to it generating GAS regardless of price action and market movement.
It's a very difficult market at the moment. I've always been relatively confident in Bitcoin as a store of value, but a number of things lately have me preferring NEO, ARK and some other alts over it. I know it might reach $100k one day, but I was far from impressed with the 2X and hashing power battle that took place last week.
I hold some Civic as I believe in it as a product. Not much, but I always like to have a small holding in things that I really believe in.
The ability to donate directly to youtube video producers and this possible partnership with civic make BAT more appealing.
Ideed! I was holding some Adex and BAT a while back. Not sure I like the inflation rate as an investment with BAT, but I think it's actually a better choice over Adex and it's certainly a good currency to earn for YouTubers!
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