In a recent tweet, prominent Pi Network user, Bonafide, has called upon the Pi Core Team (PCT) to shift their focus towards prioritizing Know Your Customer (KYC) verification for all users and launching the mainnet, rather than developing another incentivized application. The tweet read, “I think the PCT should focus on KYCing everyone and opening the mainnet, instead of creating another app to incentivize users. What is the point of incentives if you can’t use them?”
Pi Network, a decentralized cryptocurrency project aiming to create a more inclusive digital currency, has gained considerable popularity among users worldwide. The network currently operates in a testing phase known as the “Pi Testnet,” allowing users to mine Pi coins using their smartphones. However, the network is yet to launch its mainnet, which would enable users to utilize their mined coins for various purposes.
This is up for discussion..
I think they the PCT should focus on KYCing everyone.. and opening the mainnet, instead of creating another app to incentivize users.. what is the point of incentives if you can’t use them? #FireSideChat #PiNetwork https://t.co/PBOSDBCEJp
— Bitcoinaryo (@BitcoinaryoPH) May 31, 2023
Bonafide’s tweet reflects the concerns of many Pi Network users who believe that the priority should be shifted towards implementing KYC verification for all users. KYC processes involve verifying the identity and credentials of users to ensure compliance with regulatory requirements and prevent fraudulent activities. By implementing KYC, Pi Network aims to create a more secure and trustworthy platform.
Additionally, Bonafide stressed the importance of opening the mainnet, emphasizing that the current focus on developing another incentivized app may divert attention from critical aspects of the project. The mainnet launch is a highly anticipated milestone for Pi Network users, as it would provide the opportunity to utilize the Pi coins they have accumulated.
Pi Core Team has yet to respond to Bonafide’s tweet, and it remains to be seen how they will address the concerns raised by users regarding KYC implementation and the mainnet launch. However, user feedback has historically played a vital role in shaping the development and direction of the Pi Network project.
As the Pi Network community continues to grow, it is evident that users like Bonafide are actively advocating for prioritizing the essential elements of the project, such as KYC and mainnet launch. The future decisions made by the Pi Core Team will determine the trajectory and success of Pi Network as it strives to revolutionize the cryptocurrency landscape.