As the launch of Pi Network‘s Mainnet approaches, the Core Team is actively addressing the crucial issue of Know Your Customer (KYC) verification. With a significant number of pioneers yet to receive KYC invitations, concerns have arisen regarding the fate of their mined PiCoins, which risk being burned in accordance with the project’s white paper stipulations.
Recognizing the urgency of implementing a robust KYC solution, the Core Team has outlined three key priorities aimed at streamlining the verification process and ensuring compliance with regulatory requirements. These priorities, as identified by the Core Team, are as follows:
1. Simultaneous large-scale KYC qualification: To expedite the KYC process and accommodate the vast number of pioneers awaiting verification, the Core Team is exploring methods for simultaneously qualifying a large volume of users. This approach aims to minimize delays and ensure timely access to the Mainnet for all eligible participants.
2. KYC stand-by status re-approval procedure: In order to address any discrepancies or updates required for KYC approvals, the Core Team is implementing a stand-by status re-approval procedure. This procedure will enable pioneers to rectify any issues with their KYC submissions and ensure that they meet the necessary verification criteria.
3. Introduction of verification alarm system: To enhance transparency and communication with pioneers, the Core Team is introducing a verification alarm system. This system will notify users of any updates or actions required regarding their KYC status, ensuring that they remain informed throughout the verification process.
