DeFi execs at the World of Web3 Summit in Hong Kong argued that implementing “Know Your Customer” measures will tackle the “biggest issue” in decentralized finance , which is hackers laundering millions of stolen funds into “clean money.”
Dyma Budorin, CEO of smart contract auditing firm Hacken, warned of the prevalence of tools readily available to hackers to “launder the money” stolen from DeFi platforms, which he described as the “biggest issue” in the industry. “KYC is about transparency and accountability. I don’t think it’s an issue for a majority of people. I’m sure 99% of people don’t have things to hide. I’m happy to see it as part of our world.”
KYC sucks. Digital ID sucks 😘
already exist $XPR ProtonXPR
$XPR It has all that and more
we need more regulation on Defi! it will even bring more things! synfutures defi
But… but… but I thought KYC was bad because crypto is ‘anonymous’ 🤣🤣 Get with the times and get onto ⬇️
get with the program and use
Yeah, kyc is not an issue... Are you joking to say that things in crypto community
It's so weird that decentralisation cannot do without KYC🤯🤯
And zk proof can be of a possible help SynFutures DeFi
Guess who has that? ProtonXPR $XPR
are u living under a rock check out protonblockchain xpr metal loan mtl storex
These have been been and live for some time now. Pay attention to the builders who have done very well preparing for this shift.
I’d give regulators a tour of my house and my blood type if it meant they would cut the bs
This is where we come in! Our Gold Standard Verification process is designed with project owners in mind to give them a safe way to privately verify their identities whilst providing transparency and trust to their communities! We are the solution 💪🏻
I don't think that KYC will actually solve the problem in the DeFi sector, because people actually come here and make it decentralized. SynFutures
'Nothing to fear, nothing to hide... right?' The issue with Digital Finance is surveillance and curtails of Privacy, a fundamental human right. AML is extraordinarily strong at fighting financial crimes, but it is the issue of censorship, surveillance and tyrannical control.
Kyc powered by smart contract will be good ..real identities matters a lot.
DeFi industry should proactively take the lead and “front run” regulations before they are imposed by regulators SynFutures Defi
My thought is that KYC will take decentralization away from DeFi, but let's see how that unfolds. Trade on fully decentralized platform like SynFuturesDefi DeFi SynFutures
KYC without zk is just making regulation harder to adapt. Regulators need to take advantage of crypto dynamics. and Concordium is just here to do that
A wise man once told me not everyone out there expect you to succeed. So if you're succeeding “they are not happy” they will do everything possible to bring you down. Since I meet macduff_carlos he has helped me not only financially but psychologically also.
Obviously, keep it pumping but it wasn't an easy task to learning the routes on trading . Cormac made it more easier to understand and have made over 6.7btc in space of 8 weeks interval. Details on Telegram;cormac_signals for clinical delivery of trades .
It could be argued that you're not anyone's customer because you are interacting with a smart contract and not a business.
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