As the launch of Pi Network‘s Mainnet approaches, the Core Team is actively addressing the crucial issue of Know Your Customer (KYC) verification. With a significant number of pioneers yet to receive KYC invitations, concerns have arisen regarding the fate of their mined PiCoins, which risk being burned in accordance with the project’s white paper stipulations.
Recognizing the urgency of implementing a robust KYC solution, the Core Team has outlined three key priorities aimed at streamlining the verification process and ensuring compliance with regulatory requirements. These priorities, as identified by the Core Team, are as follows:
1. Simultaneous large-scale KYC qualification: To expedite the KYC process and accommodate the vast number of pioneers awaiting verification, the Core Team is exploring methods for simultaneously qualifying a large volume of users. This approach aims to minimize delays and ensure timely access to the Mainnet for all eligible participants.
2. KYC stand-by status re-approval procedure: In order to address any discrepancies or updates required for KYC approvals, the Core Team is implementing a stand-by status re-approval procedure. This procedure will enable pioneers to rectify any issues with their KYC submissions and ensure that they meet the necessary verification criteria.
3. Introduction of verification alarm system: To enhance transparency and communication with pioneers, the Core Team is introducing a verification alarm system. This system will notify users of any updates or actions required regarding their KYC status, ensuring that they remain informed throughout the verification process.
The Core Team has committed to prioritizing these initiatives to expedite the KYC process and provide clarity for pioneers awaiting verification. By addressing these key priorities, the Core Team aims to facilitate a smooth transition to the Mainnet while upholding the integrity and security of the Pi Network ecosystem.
It is important to note that the Core Team has previously identified KYC as one of two critical priorities for Mainnet launch preparations, alongside ecosystem utility building. These efforts underscore the Core Team’s commitment to creating a robust and compliant ecosystem in anticipation of the Open Mainnet launch.
As pioneers await further updates on the KYC process, the Core Team’s proactive approach to addressing these priorities reflects their dedication to ensuring a seamless and inclusive transition to the next phase of Pi Network’s development. Read Similar Story
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