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RE: Do you know that KYC and its relationship with the blockchain? Let's learn together! by Karupanocitizen

in Project HOPE3 years ago (edited)

Good morning @karupanocitizen
The two elements that you have shared in the beginning in the post are the bases, and in other words you can say reasons that gave birth to bitcoin and decentralized crypto-blockchain. Decentralization is the major aim of crypto currency and blockchain technology. Short and clear definition is no third party. Anyway, KYC is important to solve the issues like money laundering,terrorism ETC. But at the same time it is risky too for the users.
Great explanation my friend keep sharing more posts like this.

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Thanks to you @luckyali for the positive evaluation of my post.
Indeed, it seems that KYC processes are a double-edged sword within the blochain environment, however, I consider that within this environment we have all the necessary tools (from which centralized platforms suffer) to be able to carry out these processes without significantly affecting the protection of the identity or other data of the users, except in those cases in which their identification is vital (as in the case of hacks for example)

Can you imagine a "virtual blockchain police" capable of encrypting and decrypting data and protecting all crypto assets? XD

I think I was daydreaming, but it can be a good script for a blockchain movie right? ;)