Is it necessary to use the pi coin kyc?

The identity authentication of the members of the pi currency community referred to by the pi currency kyc is also aimed at the identity authentication of global pi currency users. According to pi, there is no charge for kyc certification. But at present, only the selected pioneers can get kyc certification for free. The main reason is that the kyc scheme of pi network is incomplete.

KYC is like the loading of personal user profile information, such as real name, telephone number, ID number, property status and so on. Just like when we open an account in a bank, we need to fill in a lot of personal information. This is KYC, and the bank is learning about its customers. KYC is necessary for enterprises to manage and protect their own and users' property safety and meet the regulatory requirements of government departments.

We all know that cryptocurrency has the characteristics of decentralization and anonymity, which is contrary to KYC to some extent, and cryptocurrency was not subject to government supervision and legal constraints in the past, so the requirements for KYC's exchanges in the past were not so strict. However, in the past few years, fraud, running away and theft have occurred frequently in cryptocurrency transactions. There are also criminals who use cryptocurrency for fund-raising, money laundering, drug trafficking and other illegal acts. Therefore, with the promotion of governments and financial supervision departments in various countries, KYC has gradually become a rule that cryptocurrency exchanges must implement. Therefore, now when you register your account with the cryptocurrency exchange, you will have KYC certification.

KYC is an indispensable part of all financial activities in the international community, which is mainly used to prevent money laundering, identity theft, financial fraud and other criminal acts. The three elements needed for general verification are name, ID card and mobile phone verification.

By introducing KYC authentication mechanism, piconet builds an authoritative identity authentication system to ensure the true identity of every user in the chain and protect the privacy of users.

KYC has three meanings.

First, protect community values.

In the blockchain field, all aspects of digital asset circulation need a real-name registration system, which is the general trend. Choosing real participants in the community through the real-name registration system and avoiding the generation of false big data will definitely enhance the value of the community.

Second, deal with the regulatory level.

The blockchain field is chaotic, and the regulatory authorities will not always ignore it, and they will inevitably formulate rules for supervision. Pi network is legal and compliant. For the healthier development of Pi network, when supervision is needed, PI will not face the supervision risk brought by too many false users.

Third, protect personal assets.

Property rights must be bound and managed by law, and also protected by law. Only by adopting the real-name registration system can we ensure the inviolability of assets.

Therefore, from the perspective of community value, blockchain supervision and asset protection, choosing KYC real-name authentication is the only way for the healthy development of blockchain network. By the way, I would also like to remind everyone here that when digging pi coins, it is good for everyone to have an account. Because even if more accounts are opened, KYC can only authenticate one account when authenticating its real name. So don't open too many accounts to help you dig, because it's all for nothing.