Pi currency kyc certification latest time

Around December 14th, KYC certification will be carried out.

1. Pi Coin KYC certification refers to the identity verification of Pi Coin community members and is also the identity authentication for global Pi Coin users. According to PiNetwork, there is no fee for KYC certification. But for now, only selected pioneers can obtain KYC certification for free. The main reason is that pinetwork's KYC solution is not yet complete.

2. KYC is the abbreviation of KnowYourCustomer in English. This word is translated directly and bluntly by a translator and means: know your customer. The translation of the word meaning is very straightforward. But it lacks some poetry. Professional explanation of KYC means: it is an operating rule that financial institutions, banks, exchanges and other enterprises must carry out.

Three, KYC looks more like a record of user profile information, such as real name, phone number, ID number, appearance, property status, social relationships, etc. In fact, when you go to a bank to open an account, you need to fill in a lot of detailed personal information. This is KYC. Or if you open Alipay or WeChat Pay, you also need real-name authentication (fill in your real name, mobile phone number and ID number). These are all KYC. KYC is very necessary for business management, protecting the property security of itself and its users, and meeting the regulatory requirements of government departments.

Four. We all know that cryptocurrency has decentralized characteristics. At the same time, it also has certain anonymous characteristics, which is contrary to KYC to some extent. Moreover, cryptocurrencies were not previously subject to government supervision and laws, so exchanges’ KYC requirements were not so strict in the past. However, in the past few years, fraud and theft incidents have frequently occurred in cryptocurrency transactions, and criminals have also used cryptocurrency to conduct illegal activities such as fund-raising, money laundering, and drug trafficking. Therefore, driven by governments and financial regulatory authorities of various countries, KYC has gradually become a Rules that cryptocurrency exchanges must enforce.

5. To ensure community value, in the blockchain field, real-name systems are required in all aspects of digital asset circulation. This is the general trend. Through the real-name system, real participants in the community can be selected to avoid the generation of false big data, which will greatly increase the value of blockchain currencies. Regarding the regulatory level, the blockchain field is relatively chaotic. Regulatory authorities will not remain indifferent and will inevitably formulate rules for supervision. The Babbitt community is legal and compliant. For the healthy development of the community, the community will fully cooperate when supervision is required. To protect personal assets, property rights are bound to be restricted and regulated by law, and are also protected by law. Only by adopting a real-name system can assets be protected from infringement.

Therefore, from the three aspects of community value, blockchain supervision and asset protection, choosing KYC real-name authentication is the only way for the healthy development of the community. To develop communities, real names come first, and we work together to build valuable communities.