Is KYC really a good thing?

[Lukasz]

Kyc for some is a nuisance but an ICO may want to have a stricter kyc procedure to make a good impression and have it easier with the authorities who are at never ending lookout for money laundring and the like which is pathethic IMHO but they know better

[CryptoZenWorld]

Kyc is just an act of identification of the investors specially the big orders, however bounty hunters should have a freedom not to undergo in kyc because we are just a simple bounty hunters and not an investor. Even though somehow kyc is a good way of identification but it should be announced at the beginning of the campaign.

Hi mate, I think KYC should have for everyone. As you know that bounty hunter is also an indirect investor. Bounty hunter giving their time to advertising to bring investor. So, they are also earning money to invest in the project. They can also take profit from the coin as like as an investor. So, I think bounty hunter should have the same value as an investor to the project. and KYC is really a good process to avoid any error or issue of money laundering and the funding of terrorists. We should support KYC.

Thanks.

[CryptoFun]

KYC is helpful because some people has two or more accounts in forum that's why KYC is helpful to avoid double payment in one person.

I saw ads where people offered help in passing the KYC. I am sure that cheaters will always find a way out.

[comer]

I really have doubt in KYC requirement! It's quite dangerous for an ordinary people to just provide his complete identity to the group of people he does know at all. For me, bounty hunters should avoid such project because, identity is much precious than any token that they can give to us. Identity theft is rampant today in our world, we must take extra precaution in given our details to strangers, especially that this community is in international level.

[Astra]

Well, KYC is good especially when the project has proven beyond reasonable doubts to be successful. It is a requirement that has been implemented by the authorities of many countries in other to eliminate the issue of money laundering and the funding of terrorists. Anyway, investors must do an intense study into the project to ascertain that their identities will be protected and be used for only verification purposes as stated by the KYC rules.

No matter how much we study the ICO project, there will still be a certain degree of probability that the new project will be fraudulent. Therefore, I have always been against conducting KYC on bounty hunters. In addition, I consider it illegal in relation to bounty hunters, as KYC should only be carried out for the purpose of preventing dirty money laundering and combating the financing of terrorism.

[Renampun]

I really don't like KYC...
privacy is a very important thing and must be protected, the implementation of KYC will only expose the user's personal data, but if the provider can guarantee the security of KYC data then I will be ready to follow these rules.

[Cryptoz]

When I am following bounties, I avoid joining a bounty that requires the participants the KYC procedure. I think it is not suitable for bounty hunters. The KYC procedure is only for investors and doesn't need to be applied for hunters. This is instead just suspicious like a sign to steal the hunter's identities.

[MrSpasybo]

For some projects, KYC is required to comply with Token-Sale's regulations and at the same time track the effectiveness of the marketing campaigns.
For bounty: KYC campaigns is the biggest nonsense I've ever faced. It should be scrapped because hunters will not complete the KYC just to get a few USD worth of tokens.

[babu10]

Well, KYC is good especially when the project has proven beyond reasonable doubts to be successful. It is a requirement that has been implemented by the authorities of many countries in other to eliminate the issue of money laundering and the funding of terrorists. Anyway, investors must do an intense study into the project to ascertain that their identities will be protected and be used for only verification purposes as stated by the KYC rules.

Actually its a rule from the government so that project member must bond to maintain KYC system from investors. So if anybody want to make investment must have to fillup KYC. But i think no government check KYC, its only a procedure nothing else. Because there are different countries investors so particular government can not do any thing with their documents.

thanks.

[Fenix]

For some projects, KYC is required to comply with Token-Sale's regulations and at the same time track the effectiveness of the marketing campaigns.
For bounty: KYC campaigns is the biggest nonsense I've ever faced. It should be scrapped because hunters will not complete the KYC just to get a few USD worth of tokens.

KYC should not be used to track the effectiveness of marketing campaigns. It can only be carried out for the purpose of preventing money laundering and combating the financing of terrorism. It is illegal to use it for other purposes. In general, KYC is a violation of the right to privacy of every person and therefore such a violation can only be for a certain permitted purpose and cannot be arbitrarily applied.
KYC against bounty hunters is illegal, since we do not fund ICO projects, but only provide the agreed advertising services for this project.

[LogiC]

When I am following bounties, I avoid joining a bounty that requires the participants the KYC procedure. I think it is not suitable for bounty hunters. The KYC procedure is only for investors and doesn't need to be applied for hunters. This is instead just suspicious like a sign to steal the hunter's identities.

Its because that KYC process only for investors. Its ridiculous to see a bounty or airdrop conducting some sort of kyc. Like do they even fund the tokens? Not and thats not appropriate to implement. There are cases that good projects have kyc but of course you need to make sure you are giving it to a good company.

[masterrex]

If KYC requirements are coming from the legitimate platforms which are required by the governments for its effort to curve the anti-money laundering problems then it is good. but if the platform is not legit or shady I think KYC is not good because it might end our data in the wrong hands.   

[Black ID]

I think it's the opposite. With this KYC, we have to be more vigilant. I am worried that the data provided will be misused. Therefore, I prefer projects without KYC. because it is safer in my opinion.

[KKH84]

KYC will be very helpful if it stays in the right corridor.  I feel a little unfair when discussing KYC, why are only investors and bounty hunters needed for KYC? Supposedly, the CEO and the team of one of the new projects that are currently conducting ICO or IEO are also required to do KYC.

[tervel]

Within the fast changing digital space where users, companies, and financial institutions interact together, there’s a need to preserve users’ data. Data protection is inherent within the blockchain, as well as the implementation of innovative solutions for financial institutions banks or new bounty projects  concerned with digital identity.