Wow. Tezos foundation is holding contributions hostage unless contributors submit to KYC/AML...
May be used to prevent US citizens from claiming their XTZ.
There was no KYC at the time of ICO(a year ago).
Wouldn't be surprised if this results in two chains at launch.
May be used to prevent US citizens from claiming their XTZ.
There was no KYC at the time of ICO(a year ago).
Wouldn't be surprised if this results in two chains at launch.
Interesting, looks like Tezos cofounder @ArthurB(murbard on reddit) is saying he isn't on board with the decision.
"Not my call."
reddit.com/r/tezos/commen…
"Not my call."
reddit.com/r/tezos/commen…
I already questioned @ArthurB & @breitwoman's security assumptions with Tezos but this move will make their network even less secure. Every tezos holder at launch will have a passport registered with both the foundation & a third party company...
Since there is no mining in PoS systems, the only way to get tezos is to buy them from an existing holder. Since all existing holders will be KYC'd, tezos will essentially operate with network wide KYC in perpetuity.
"Tezos will just implement a privacy solution via their governance system"
Doubtful. Anyone who values privacy won't participate in the KYC process, leaving a minority supporting future privacy improvements. Those votes won't pass.
Doubtful. Anyone who values privacy won't participate in the KYC process, leaving a minority supporting future privacy improvements. Those votes won't pass.
If all holders are known, that means all bakers(that's what they call stakers) will be known as well. Having a database with the names and addresses of the individuals securing your network is laughable security wise.
This project is dead in the water before it even launches.
This project is dead in the water before it even launches.
