KNOW YOUR CUSTOMER ( K Y C )
After the inception of the modern technology like Blockchain and crypto currencies worldwide there are thousands and millions of online businesses that were operating online which means as you as a buyer or seller you don't need to meet your trading partner in person, everything should be online from the beginning to the end, Like this we have many Online markets that accepted globally Like Amazon Alibaba AliExpress and Jumia Millions of people are Shopping from those Market and making payment without looking each other in person. So why is it safe ? Many are trading safely with these platforms without any problem but Factually it is not safe why because the sellers and or the buyers don't know each other well or have each other personal Details, So That's the reason for Creation of KYC Know Your Customer, with this Everyone that wished to be trading partner of any online market Should be Verified Through KYC Verification Whether their Crypto Exchangers ( Market's ) or Stocks market.
THESE ARE THE IMPORTANT REASON WHY PI CORE TEAM MANDATED KYC VERIFICATION ON EVERY PIONEER.
1, LIVENESS DETECTION
The Pi core team first reason of KYC Verification is to confirmed that your a live human being not a designated robot.
As thousands of people are using various kind of Robot to deceived and cheat the systems, by creating difference accounts.
2, IDENTITY VERIFICATION
This is the second important thing to confirmed from every pioneer by submitting his valid and government approved ID Card.
3, SECURITY AND RELIABILITIES
It will help to secure the whole pi ecosystem and to support reliability of the pioneers by the Core Team and every institution.
4, OWNERSHIP
It will help to assured the ownership of Mined Pi of the particular Pioneer By passing KYC Verification you will have the full ownership of your Coins and be able to spend it as you wishes.
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