In a recent blog post on December 27, 2023, the Pi Network unveiled its ambitious Open Network plan for 2024, marking a crucial step towards creating the world's most inclusive peer-to-peer ecosystem. A cornerstone of this plan is the KYC (Know Your Customer) process, a pivotal milestone that propels the network towards its vision. In this user-friendly guide, we'll explore the recent updates, challenges faced, and solutions implemented to streamline the KYC process for Pioneers.
Understanding the Core Challenge
The KYC process, driven by both the community and the Core Team, encountered a significant hurdle – applications with missing or incorrectly entered information. Seemingly minor issues like unclear ID images, scattered data, or human errors led to bottlenecks in verification, causing frustration among Pioneers.
Identifying Solutions and Progress
1. Comprehensive Application Reprocessing
- In November 2023, 1.5 million applications faced KYC hurdles due to missing data.
- Innovative code improvements unblocked 200,000 applications, leaving 1.3 million cases by the end of November.
2. Improved Algorithm to Resolve Sub-issues
- Mid-December saw a second comprehensive reprocessing effort targeting 1.3 million applications.
- Result: 532,000 applications successfully moved forward, reducing cases blocked by missing data.
3. Resubmission Opportunities for Pioneers
- About 768,000 applicants were allowed to resubmit their applications in late December.
- 123,000 applications were successfully unblocked, emphasizing the importance of clear, accurate information.
4. Validators Review as the Solution
- New designs and tutorials for KYC Validators are in development to address remaining missing data issues.
- This strategy aims to unblock more applications affected by issues that cannot be resolved algorithmically or through resubmissions.
Other KYC Updates and Progress
- Improved Liveness Video Processing reduced a backlog from 153,000 to 19,000 Pioneers.
- A specialized measure in December 2023 unblocked 1,367 Pioneers facing issues with watermarks on images.
- Name Comparisons and Appeals: New tutorials and designs released to trusted Validators to resolve difficulties in name comparisons.
Tips for a Smoother KYC Process
To enhance the KYC experience, Pioneers are encouraged to:
- Ensure all data is accurately filled in, especially crucial details like Date of Birth.
- Submit clear, well-lit images of their ID and a clear liveness video.
- Verify that the country of ID issuance matches the selected country in the KYC application.
- Maintain consistency in ID document submission, language in data entry, and information accuracy.
Moving Forward Together
The success of the network's KYC progress hinges on collective efforts. Pioneers play a crucial role in applying, fixing applications, resubmitting, and inviting teams to undergo KYC. Simultaneously, KYC Validators are vital in resolving complex cases beyond the capabilities of machines. The Core Team is committed to providing the necessary technology, designs, and support for a more efficient and user-friendly KYC process.
A Note of Gratitude
The Pi Network expresses gratitude to its community for ongoing participation and feedback, emphasizing the invaluable role they play in the journey towards an efficient and user-friendly KYC process. Stay tuned for more updates and improvements as the network progresses towards the Open Network.
