TLDR
KYC (know your customer) is by no means an enemy of the crypto space. It is much needed if the goal is for cryptocurrency to be taken seriously on the world stage. What KYC is really about is installing a level of trust between buyers and sellers. Without KYC, sellers are in the dark about who their clientele is, meaning that they are left unable to protect themselves from malicious activity. There is a common misconception among crypto users that when KYC measures are used decentralization is diminished.via the TL;DR App
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Written by aubreyhansen | Fell down the rabbit hole two years ago. Time to write about it.
