KYC is our friend
1/1. A thread about anonymity.
I know this is highly unpopular in crypto-twitter, but I believe anonymous financial blockchains are a phase. Most financial activity will end up with KYC either on all entries/exits, or better yet, natively at the core.
1/1. A thread about anonymity.
I know this is highly unpopular in crypto-twitter, but I believe anonymous financial blockchains are a phase. Most financial activity will end up with KYC either on all entries/exits, or better yet, natively at the core.
2/4. When law-abiding people, companies, and institutions do any significant business, they want to know they are dealing with a legit counter party.
The market for those who don't care who they deal with is limited. Most people want to be on the right side of the law.
The market for those who don't care who they deal with is limited. Most people want to be on the right side of the law.
3/4. What people DO want, is PRIVACY.
There is a misconception in crypto-twitter that "Anonymity = Privacy".
This is NOT true.
Privacy on Ethereum and Bitcoin is horrible - everything exposed. The FBI is known to have an easier time investigating BTC over bank transactions.
There is a misconception in crypto-twitter that "Anonymity = Privacy".
This is NOT true.
Privacy on Ethereum and Bitcoin is horrible - everything exposed. The FBI is known to have an easier time investigating BTC over bank transactions.
4/4. Therefore, there's no reason not to include proven identity management into the core of blockchains with privacy baked in. The quality of the identity management/privacy should be part of the game theory.
For Security Tokens, I believe this is the optimal solution.
For Security Tokens, I believe this is the optimal solution.
