KYC for ICO, is it good or bad idea?

[zarko]

Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP,  use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.

[purpleseven]

Buyer verification is important to comply with regulations. many money laundering cases that use crypto for crime. if according to the government, Kyc is needed, the ico project organizer must do it.

[Cutter Cute]

It was an option, I saw several ico projects that did Kyc like Cibus, Cibus benefited a lot after a few weeks and the tokens were listed on the exchange, their web pages, whitepaper, and Tim disappeared.
there is no guarantee that the data you provide will be safe or not? I will see the project details before doing so.

[halvin]

I see from the good side that KYC can filter fake bounty hunters, with information about biodata to be accurate so that it will be difficult to cheat, bounty hunters to participate in projects with multiple accounts.

Even you say that KYC helps reduce fraud projects, I think it's good to implement

[JSD10M]

I do not know about you but it is a common practice now that founders or developers put their contact details (usually thru linkedin) on their own website so I do no think there is a need for KYC for "sellers". It is up to you now as an investor to verify if the info posted by the team is legit.

[hyipmentor]

actually its safe and risky both.
but i think the project which taking kyc in ico will not use kyc info to negative things.

[trauchot]

If this applies specifically to investing in ICO, then yes, KYC is needed because it is not known who can invest in the company and then there will be problems because of this, but not all companies apply KYC for investments in their project.

[napster]

I don't see any reason to collect KYC documents from the investors to use in the project, but on the other hand, they need to eliminate some people for a reason.

[Citysatoshi]

I think it is  better for investors and not necessarily for bounty hunters because we are like employees of the projects and not investor. many has complaint having do KYC for bounty which i have considered in my opinion, needless exercise becuase hunters are meant to promote the project through many social networks.

[DeKingCrypto]

KYC for ICO is not a bad idea at all, the only issue with KYC is when the company who run the KYC turns scam, then all those who submitted their information may be in problem.

[Ferki]

Hi, everybody. With the development of cryptocurrencies and blockchain technology,not only good ideas and projects began to develop,but also those who want to get a lot of money on the HYIP,  use new technologies for their personal purposes. Projects began to carry out the KYC procedure for investors, airdrops, bounties to protect their projects from prosecution by the authorities, to improve security, to know their investors in person. But maybe we can use the KYC procedure not only for buyers but also for sellers. If we introduce such a procedure for new projects, it will increase the level of investor confidence, as well as deter many fake projects from collecting our funds, protect our crypto assets from fraud. This procedure can be entered in this forum to host projects or in special platform. The project developer will have to provide his personal and contact details.
Do you think this is a good or bad idea? Express your opinion.

Hi,zarko.You should use search button before you start tread like this one.Guess what,i have used search button and i´v found this tread at BCT forum.Hmm

[PreshB]

Yes  KYC  is   not  a  bad  idea,  but  it  will  be  good  for  the  investors  and  not  the  employees.   Althiugh through  KYC  the  bad  bounty hunter's  can  be  eliminated.

[paolobaltimori]

KYC is now required for 99% of ICO and I really pay attention to ICO that do not require KYC because it's mandatory in most of countries so the can be potential scams

[aldi putra]

yes I think KYC is needed for ico to avoid fraud and money laundering  but I'm a little bit afraid that the data I provide can be safe and the fear is flat that I give it to use for. crime

[Stuart]

KYC is now a big process that all projects use in other to know more about their investors/buyers. On the other hand, if the company that is carrying out the KYC process is a scam, then the project itself is also a scam. And at that point, one will find difficulties to know whether the project is a scam or not. But KYC is a good development for all ICOs to take, as part of their screening process.