It is hard to imagine a worse system for managing KYC than the current system of disclosing oodles and oodles of personal information (and photos) to the customer service reps of many different organizations
6529 has a significant IRL job. I have to do this weekly +/-.
It is the dumbest thing in the world, as if there were not 100 better ways to confirm my residency / identity than sending utility bills (home address), ID numbers, photos etc to hundreds of people / year
It is the dumbest thing in the world, as if there were not 100 better ways to confirm my residency / identity than sending utility bills (home address), ID numbers, photos etc to hundreds of people / year
To take the dumbest example, confirming that you are a resident of country X is a different question than "what is your home address and how many kwh of electricity or BTUs of gas you use"
The fin svcs firms need the former, not the latter
The fin svcs firms need the former, not the latter
6529 had to certify a document today so feeling especially amazed at the IRL process.
If crypto people proposed this as a new system of trust, we would be laughed out of the room.
Every single step is trivially hackable. It is just social convention, nothing more.
If crypto people proposed this as a new system of trust, we would be laughed out of the room.
Every single step is trivially hackable. It is just social convention, nothing more.
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