A few things about KYCđ»
The word KYC may be more commonly used in exchange platforms. Before that, there is actually a basic understanding that I want to tell you in advance: a platform with KYC does not necessarily mean absolute security or compliance. It just means that if the platform wants to be compliant, it must do KYC
At the same time, it does not mean that a platform without KYC will not work. At present, for the mainland user market, some small platforms will choose to bypass the KYC procedure to let you use their products
My core purpose is to express: I think Web3 as a whole is quite "black box". Whether the platform explodes or not, whether it runs or not, has nothing to do with whether you have completed KYC. Whether you have done KYC or not will not reduce the difficulty of your rights protection after the platform explodes
đLet's talk about KYC itself. KYC (Know Your Customer), Chinese translation: Know Your Customer, is mainly used to prevent money laundering, stealing identity information for financial fraud and other crimes. The elements required for general verification are: name + ID card + liveness authentication, and sometimes external verification is added, such as email, mobile phone number, etc.
The exchange can grasp the real identity of the user through KYC. If there are risks or other problems in the transaction, the victim can find the user in the area through legal means, which is conducive to combating crime and protecting the safety of user assets.
But the devil is always stronger than the saint. In fact, anti-KYC means have been emerging one after another. With the development of AI, the live verification barrier has become easier to break through (recently, there have been market news that the KYC information of mainstream exchanges has been frequently exploited)
So the platform's corresponding [anti-anti-KYC] mechanism may also become severe, which is actually an inconvenience for ordinary users.