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RE: Do you know that KYC and its relationship with the blockchain? Let's learn together! by Karupanocitizen
Happy new week @karupanocitizen, what an excellent post about KYC. To me KYC is a good tool that helps in knowing your customers. Just like what @luckyali said it is good to some extent and it is also bad to some extent. When it comes to the blockchain we all knows that everybody wants to be anonymous while making money but at a point in time the fraudulent activities has increased so badly, if KYC will curb that aspect then it will be amazing.
Happy start of the week to you too friend @ tfame3865, thank you very much for your nice comment.
Indeed, depending on how you look at it, the KYC can have its positive side and its negative side. However, it is convenient for all of us that more and more users join blockchain platforms, the generalization of their use would make all cryptocurrencies more stable and profitable and the safety factor is one of the things that further distance users.
I believe that the blockchain has the potential to establish identity validation mechanisms, without such data being exposed to everyone.
Thank you very much for your valuable comment !!