Jimmacfly
@jimmacfly
Web3 Mass adoption will never happen without KYC, get over it. Mini 🧵 Mass adoption means some sort of regulation will be put in place. The least invasive of all of them is KYC. And if it is required, then so be it, we're pretty much doing it all the time anyway.
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Jimmacfly
@jimmacfly
It will mean that there is transparency and that yes you will have to pay taxes according to the laws of your country. Taxes are not fun I get it, but they are part of a functioning society and you don't mass adoption without being part of the society.
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Jimmacfly
@jimmacfly
Yes it will mean that people making a lot of money out of the space will not be able to hide their identity. Is that a security risk, yes. But let's face it, massive accounts have been drained, it did not protect them and KYC would help finding the thief.
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Jimmacfly
@jimmacfly
Because that is the first advantage: KYC removes impunity for all the bad actors in the space. You can't "beanie" your way out of shit (excuse my French) with KYC. You will be held accountable. That alone is a massive plus for me.
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Jimmacfly
@jimmacfly
Then for the public it provides safety: scams are scaring people away, the far west is fun but it's dangerous. With KYC you know the person in front of you can be held accountable, you can "call the manager".
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Jimmacfly
@jimmacfly
We will never have mass adoption without a feeling for the public that they won't be left alone when hell breaks loose, that they won't lose everything and not being able to recover it. KYC solves this, not another app, not a browser extension, not education. KYC, get over it.
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