Peter Todd [ARCHIVE] on Nostr: 📅 Original date posted:2016-06-21 📝 Original message:On Tue, Jun 21, 2016 at ...

📅 Original date posted:2016-06-21
📝 Original message:On Tue, Jun 21, 2016 at 10:50:36PM +0000, James MacWhyte wrote:
> > Note that "client supplied identification" is being pushed for AML/KYC
> > compliance, e.g. Netki's AML/KYC compliance product:
> >
> >
> > http://www.coindesk.com/blockchain-identity-company-netki-launch-ssl-certificate-blockchain/
> >
> > This is an extremely undesirable feature to be baking into standards given
> > it's
> > negative impact on fungibility and privacy; we should not be adopting
> > standards
> > with AML/KYC support, for much the same reasons that the W3C should not be
> > standardizing DRM.
> >
> >
> KYC isn't the only use case. There are other situations in which you would
> want to confirm who is sending you money. Making it *required* would of
> course be a horrible idea, but allowing people to identify themselves, in
> many cases with an online-only identity that isn't tied to their real world
> identity, will be very useful to newly-developing use cases.

It's easy to confirm who is sending you money: give out different addresses to
different people, and keep those addresses private.

--
https://petertodd.org 'peter'[:-1]@petertodd.org
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