Know your customer KYC

KYC
Isn’t a private transaction just that? Private..or myself, the party I transact with and the exchange. Ever since the start of blockchain I have been cautious. From keys to passwords I have done my best to stay secure.

Financial privacy at it’s core should be a human right. What I do with my earnings should be no ones business. And if I choose to buy a virtual currency I shouldn’t have to submit extensive docs. Most that purchase virtual assets are law abiding citizens.

However, some gate keepers will point to the criminal element to seize more power. Yet in doing so they only punish law abiding citizens. Criminals tend to not follow the law and find a way to circumvent the situation. All the while we have more forms to fill out.

At it’s core the KYC requirement is a joke. It is the antithesis of what Bitcoin stands for. Peer to peer means just that. We transact privately. Once our business is complete we move on. Very simple. And that is the beauty of blockchain. Exchange value without the red tape.

Posted Using LeoFinance