KYC for ICO, is it good or bad idea?

[Asebaby]

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.

I find nothing wrong if a company decide to run  KYC for both investors and bounty hunter for it is for the benefit and security of both parties.

[Iconetlife]

Actually, KYC is only procedural for licensing regulations for projects that will run. I think if you have to do KYC for bounty hunters there is no problem if the purpose is to do legality. Because before the permit is issued there must be an audit first that requires KYC. However, if the problem is KYC for bounty hunters who do not need KYC and force KYC for participants to avoid farmers' accounts I think it is not right. Because the main function of the gift is to introduce to many people.  Whatever your way, we don't care.

[Hamza Pawel]

Personally, I think KYC is needed because it is good to distribute gifts that are right on target and avoid cases where many people intentionally cheat to get many profit.

[Alcor]

Of course, ICO teams must be more thoroughly tested than investors sometimes pass in connection with the ongoing KYC audit. And it will be much better if such checks are carried out by state structures. To do this, they have much more authority.

[Delgboke]

KYC was initiated for the purpose of investors in order to know to know there costumer who do business with them

[Alter]

KYC is a process to submit our personal identity. I am afraid with this process, I don't know if it is safe or not. Can anyone explain to me that it is secure? I think no one said it. This is the reasons to not believe in KYC.

[sixexgames]

Well the SEC just cracked down on a couple of ICOs, so if the ICO wants in on the US market, it's in their best interest to do everything the SEC requires including KYC.

[jbc081475]

It is an optional for us if we will give our data as required by KYC.For me this is a good idea buy we can not assure if all our personal details are safe.I always look for the Bounty campain project if it is secure to comply with their KYC.

[Bluewek]

if we can choose a trusted bounty then it will be good because it will reduce the cheating by some people. but if we choose a bounty that is not trusted then it will be risky because our personal data can be used for things that are wrong.

[arnishad]

to be honest it's so dominated that would amendment at any time indicate that the team was affected not prepared or immature with initial rules are created. it's sort of a mess and not serious in winding up the project. however if there's an issue then amendment the rule still should be allowed for the great and swish running of the project. as long because it continues to be inside the bounds of affordable and doesn't hurt either party then it's not an issue.

[Uplifted]

KYC is a screening process that filters fake bounty hunters, so I think it's necessary. Some ICOs require KYC for their investors, maybe to get to know them better

[abc123]

Rather if it good or bad.KYC is mandatory in some country to comply with the law.If you want to join the ICO,you must pass KYC process to verify that you are eligible to join.

[levyashin]

I don't think any legit ico would risk doing a sale without a kyc. Even i hate doing kyc's if ico don't ask for a kyc it probably a scam.

On the other hand, scam icos understand that and they are also asking a kyc.

[naitik01]

KYC is a good idea It is helpful in transparency.

[Stgeorge]

Maybe yes maybe no.but for me better to do not give your personal information here in crypto currency because they have possibility that they use it to other.ICO no need to use KYC because you invest your money and they don't need your information, because what ever to happen you will be benefit or sacrifice.