Why the teams usually don't go through KYC?

[dentolas 551]

With so many KYC requirements around, and people being forced to go through KYC to get their funds back, or just to participate in bounties... I don't usually see any KYC being done from the team...hell, sometimes the guys are even anonymous...

Am I incorrect? have you seen projects demanding KYC with the team also following the rule? are these frequent?

why do people keep on feeding this system and don't start, at least, by asking KYC from the team?

for me, spreading personal info and documents on the web (KYC) is a dangerous business

[xBDT Script 4371]

Just now, dentolas said:

I don't usually see any KYC being done from the team...hell, sometimes the guys are even anonymous...

Haha, may be it's like - in my territory who are you to question. If you don't like me then leave 😊

1 minute ago, dentolas said:

Am I incorrect? have you seen projects demanding KYC with the team also following the rule? are these frequent?

May be this is why people wants to see who is the team member. If they find anyone who they know and worked with then chances are high that they are going to accept the project and invest in it.

 

2 minutes ago, dentolas said:

for me, spreading personal info and documents on the web (KYC) is a dangerous business

Giving it to the wrong guy may cause you a lot of trouble.

[dentolas 551]

23 hours ago, xBDT Script said:

Haha, may be it's like - in my territory who are you to question. If you don't like me then leave 😊

May be this is why people wants to see who is the team member. If they find anyone who they know and worked with then chances are high that they are going to accept the project and invest in it.

I think it would only be fair and transparent if the guys that request KYC, should also provide their investors with the same security and information, by doing KYC themselves...

Maybe instead of getting pissed because KYC is needed in some places, we should start requesting the team KYC in order to participate in their business...

[xBDT Script 4371]

5 minutes ago, dentolas said:

Maybe instead of getting pissed because KYC is needed in some places, we should start requesting the team KYC in order to participate in their business...

You could but they are not obliged to since they are the team. In fact who will do their KYC? Who will keep the information.?

When you are giving your information then they ware keeping it. You are the giver and they are the taker but in their case who will be the taker?

[dentolas 551]

3 minutes ago, xBDT Script said:

You could but they are not obliged to since they are the team. In fact who will do their KYC? Who will keep the information.?

When you are giving your information then they ware keeping it. You are the giver and they are the taker but in their case who will be the taker?

very good point my friend... maybe there could be a third independent entity that would do their verification and allow them to include a logo "KYC verified by..."

this could even turn into a side business for kyc companies

but, of course, you would have to trust them 🙂

[teminalibug 309]

17 hours ago, dentolas said:

KYC is a dangerous business

Sorry, I keep seen this KYC thing but I've no idea what it means anyone of you experts help me understand what is this KYC mean, and what is it about.

[dentolas 551]

1 minute ago, teminalibug said:

Sorry, I keep seen this KYC thing but I've no idea what it means anyone of you experts help me understand what is this KYC mean, and what is it about.

when you don't know, you ask 😉

KYC means Know Your Customer and it is something that some projects/echanges/etc require to allow you to use their services/invest/etc

This means they request your a copy of your ID, sometimes photos with certain requirements, etc... it depends on the level of KYC

in other projects/places you can just register and use it anonymously

cheers

[xBDT Script 4371]

7 minutes ago, dentolas said:

maybe there could be a third independent entity that would do their verification and allow them to include a logo "KYC verified by..."

So you are asking another body to give up your identifications 😆

8 minutes ago, dentolas said:

this could even turn into a side business for kyc companies

KYC is already a business LOL

8 minutes ago, dentolas said:

but, of course, you would have to trust them 🙂

The entire fiat system is based on trust. We do not want this and that is why we are here embracing crypto and going back to the same will be ironic.

[teminalibug 309]

Just now, dentolas said:

when you don't know, you ask 😉

KYC means Know Your Customer and it is something that some projects/echanges/etc require to allow you to use their services/invest/etc

This means they request your a copy of your ID, sometimes photos with certain requirements, etc... it depends on the level of KYC

in other projects/places you can just register and use it anonymously

cheers

Ah you deserve a thank reaction, I should apply this KYC - KNOW YOUR CUSTOMER thing on my projects as well. you did not just explained to me what KYC mean but you made me consider it. 😃

[xBDT Script 4371]

7 minutes ago, teminalibug said:

Ah you deserve a thank reaction, I should apply this KYC - KNOW YOUR CUSTOMER thing on my projects as well. you did not just explained to me what KYC mean but you made me consider it. 😃

LOL

I think you have no project and you are just saying 😊

Jokes aside, if you are really working in any project and you have no idea about KYC or bounty (in other topic you asked) then I will see you have zero knowledge about this industry. And I really doubt what you will bring out.

May I know a little information about the project you are working?

[dentolas 551]

40 minutes ago, xBDT Script said:

So you are asking another body to give up your identifications 😆

KYC is already a business LOL

The entire fiat system is based on trust. We do not want this and that is why we are here embracing crypto and going back to the same will be ironic.

No, I was referring only to KYC from the team... as per KYC for users I don't believe in it, like we have already discussed, but we can't deny that this is growing requirement and projects like Civic will surely thrive...

KYC is already a business, we see companies doind analysis, ranks, classifications,etc everywhere and some are more thrustworthy than others... I don't see a company with a service offering KYC verifications for teams, is there?

 

[dentolas 551]

41 minutes ago, teminalibug said:

Ah you deserve a thank reaction, I should apply this KYC - KNOW YOUR CUSTOMER thing on my projects as well. you did not just explained to me what KYC mean but you made me consider it. 😃

🙂 it depends on how you put it... in some projects and some circunstances KYC might be a usefull tool, but if you want a crypto business to thrive, you need to keep your door open and the principles of crypto should apply

[xBDT Script 4371]

Just now, dentolas said:

No, I was referring only to KYC from the team... as per KYC for users I don't believe in it, like we have already discussed, but we can't deny that this is growing requirement and projects like Civic will surely thrive...

KYC is already a business, we see companies doind analysis, ranks, classifications,etc everywhere and some are more thrustworthy than others... I don't see a company with a service offering KYC verifications for teams, is there?

 

Yeah I get it 😊

I was talking about that third party who will do the KYC for both us as customers and them as the team member. In this case we are giving our details to that third party and them the team members.

[dentolas 551]

39 minutes ago, lovesybitz said:

None of the project do it mate, it is usually applicable only for the investors and sometimes for the bounty hunters for them to able to receiver token , but for me they do this to avoid payment whether investors or hunters.  Of course if

disapprove their payment will reduce too, that's what I can see with it. 

 

39 minutes ago, Anonylz said:

I also don't know why because on a normal circumstance the team are suppose to be the major target for kyc verification because so many people are about to entrust their money on them, but for some wired reason this AML compliance does not seem to recognize this very vital aspect, the teams of any project needs to be fully vetted before lunching a project.

strange how all the rules and regulations only apply one way 😉

this makes me think that besides the scammy part, the regulations that are being created are just meant to keep the same clans in power

[dentolas 551]

3 minutes ago, xBDT Script said:

Yeah I get it 😊

I was talking about that third party who will do the KYC for both us as customers and them as the team member. In this case we are giving our details to that third party and them the team members.

😊we are living in times of change... and we all need to discuss and be aware

lately I haven't been doing much bounty work, but next time I have a KYC surprise, I'll check the reaction when I mention this on their social channels...

one of the main problem with all this stuff is that there are third parties involved...

maybe a solution similar to Civic would help, because, we might not agree with doing KYC, but for those doing it in special cases, there should be a global safe solution to do it

[xBDT Script 4371]

1 hour ago, Dprincebh said:

You will be seeing some projects with the team hidden and when you ask they will say they prefer to stay hidden

If the team is anonymous but they are asking for KYC then that's a red flag and one should not give them any data at all.

50 minutes ago, iamsheikhadil said:

Kyc should be a must in a forum like this that pays to post! It will reduce significantly any spam! And will also help to identify users.

Aham! you have no idea about an anonymous forum 😊

[xBDT Script 4371]

16 minutes ago, iamsheikhadil said:

But it shouldn't be anonymous. Even though if it's anonymous, an email is just like a phone number. So asking for phone number is as equal as asking for email though... And it would reduce spam a lot.

Do you know in some countries to buy a sim card they required national ID card and finger print? So asking to phone number means you are asking for privacy to breach.

And again phone number also can be bought so, it does not make sense. 

bottom line this is a forum, not a payment system or such thing. It does not need any KYC. If they do then it will lose a lot of good members who are genuinely in crypto. 

[xBDT Script 4371]

41 minutes ago, iamsheikhadil said:

It's true. I can see where it will make things worse. Maybe somewhere, in between, there will be a way to balance it out without breaching any privacy. Sure it's not a payment system, but there will be always exploiters 😉

This is we are in a place where we are dealing with crypto, crypto means embracing anonymity, embracing privacy and asking for KYC is not a place here.

[cryptokram 102]

6 hours ago, Dprincebh said:

Aha. I also tend to run as fast as my leg could carry me. I am not willing to give out that charity for now. Although I know some of the users will still invest those project and at the end they will be shouting. "I am scammed😥😥"

That is why regulation must be release in line of this! there are so many scammers in the community especially those teams creating scam projects! They did not just get the money of investors! they also give investors a doubt a scared in joining any good project!

[xBDT Script 4371]

2 minutes ago, iamsheikhadil said:

Hehe... I didnt mean kyc as in to know the information of a person, just to limit alts and spams I mean, there can be a way to restrict one account per person. Maybe IP checks etc. I know there are no easy way out for this but yeah.

KYC = Know Your Customer 

And it requires some form of ID cards, address to verify 😊

You can not do this in a forum. People will not accept it.

[lucky80 1046]

8 hours ago, dentolas said:

I think it would only be fair and transparent if the guys that request KYC, should also provide their investors with the same security and information, by doing KYC themselves...

Maybe instead of getting pissed because KYC is needed in some places, we should start requesting the team KYC in order to participate in their business...

The team did the first time on the KYC process. The company will not legally be registered if they don't do KYC. After that, they do it again in the token sales license process.

[dentolas 551]

7 hours ago, xBDT Script said:

Do you know in some countries to buy a sim card they required national ID card and finger print? So asking to phone number means you are asking for privacy to breach.

didn'tknow about that! they control everything, so why not the sim cards...

we really need a change, things always seem to be getting better, but in the end we are more controled than ever...

do you know examples on countries where you need to do that?

2 hours ago, lucky80 said:

The team did the first time on the KYC process. The company will not legally be registered if they don't do KYC. After that, they do it again in the token sales license process.

you are right about the company being legally registered, this is one of the important points to check when investigating a project.

In regard to the token sale license process, this will only happen in countries where it is regulated... a lot of good and bad projects are born in non-regulated markets

 

[xBDT Script 4371]

10 minutes ago, dentolas said:

do you know examples on countries where you need to do that?

Here I give you a list of countries: https://prepaid-data-sim-card.fandom.com/wiki/Registration_Policies_Per_Country

It's not wise to give away the phone number always especially if one require their ID card to have a sim card.

[dentolas 551]

40 minutes ago, xBDT Script said:

Here I give you a list of countries: https://prepaid-data-sim-card.fandom.com/wiki/Registration_Policies_Per_Country

It's not wise to give away the phone number always especially if one require their ID card to have a sim card.

WOW, there are a lot of countries asking for registration to buy a sim card... really had no idea, in my country you can buy one freely...

It is really not wise, the phone number in those countries acts almost like an identification document...

 

[xBDT Script 4371]

4 minutes ago, dentolas said:

It is really not wise, the phone number in those countries acts almost like an identification document...

Well I think the citizens can not do much since they must have government's order to the service providers. But I do not think this is really necessary. The country I too have does not really need any ID of such things.

You can order as many as sims you can even from online.