This is excellent, Freddie.
A couple of things I would have added:
1. KYC is not only a burden, its also ineffective at its purported use case - there is limited evidence of it preventing serious crimes. Not only that, the largest criminals (e.g. Jho Low and the 1MDB scandal) are not stopped by it. Even smaller more resourceful criminals easily fool the most sophisticated identity verification technology providers regularly.
2. Persons with protected characteristics are certainly at risk. The UK only fully legalized male homosexuality in 1982. We've made progress since then, but there is no guarantee that the government of the day would adhere to non-discrimation. Giving authorities far more powerful and wider-reaching tools is a terrifying risk with the abuse that is possible.
gunson / Gunson
npub1pn…t2xn0
2023-06-01 20:02:44
in reply to nevent1q…7pak
Author Public Key
npub1pn9xyqt934wesguuz5g77sp9vtlh6ujyd7eqr2x3s47rncmfe8aqxt2xn0Published at
2023-06-01 20:02:44Event JSON
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"pubkey": "0cca6201658d5d98239c1511ef402562ff7d72446fb201a8d1857c39e369c9fa",
"created_at": 1685649764,
"kind": 1,
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"content": "This is excellent, Freddie.\n\nA couple of things I would have added:\n\n1. KYC is not only a burden, its also ineffective at its purported use case - there is limited evidence of it preventing serious crimes. Not only that, the largest criminals (e.g. Jho Low and the 1MDB scandal) are not stopped by it. Even smaller more resourceful criminals easily fool the most sophisticated identity verification technology providers regularly.\n\n2. Persons with protected characteristics are certainly at risk. The UK only fully legalized male homosexuality in 1982. We've made progress since then, but there is no guarantee that the government of the day would adhere to non-discrimation. Giving authorities far more powerful and wider-reaching tools is a terrifying risk with the abuse that is possible.",
"sig": "b71c1d6aad5888616bf5344b8a6dd3f7abb150ef23443bcd556312d98eb88e9cf9a51b1a5ce36625ec44bf4494915e6f3059734be052da04338effdae928b756"
}