Several questions about Pi Network KYC, answers given by the Pi core team.

Pi Network's Pilot KYC Solution Released

The Pi core team has developed a pilot KYC solution that will initially enroll 100 Pioneers in each country. These Pioneers have the opportunity to advance KYC and help improve the algorithm of our application so that our solution can be applied to as many Pioneers as possible before the Mainnet. In the short term, we will gradually roll out more pilot versions of KYC places instead of the initial 100 Vanguards per country.

Note that the core team is also working on translating this app in the future, so we recommend that if you cannot read the English language in the app, please wait for its full release.

Why is KYC important?

 Know Your Customer/Customer (KYC) is the process of verifying identity to differentiate between genuine and fake accounts.

Pi Network's vision is to build an inclusive and most distributed digital currency and economy for all pioneers. The mining mechanism of Pi Network is based on social network. When the scale of social network increases by 10 times, the mining rate is halved. Therefore, Pi has a strict policy of one account per person.

This requires a high degree of accuracy to determine that members of the network are real humans, preventing individuals from being able to hoard Pi by unfairly creating fake accounts. Therefore, KYC helps ensure the true humanity of the network.

The KYC data we collect is only used to verify Pioneer's identity and to comply with Anti-Money Laundering (AML) and Anti-Terrorism regulations. We have never sold any KYC data and will not sell it without your consent. For more details on "KYC Data", please refer to our Privacy Policy .

Q: Should Pioneers enter their name in the KYC application in English or the language of their ID?

A: Enter the name in the language of the ID document in the KYC app, so that the name entered in the KYC app is the same as the name on the ID document.

Q: Which IDs will be accepted in each country?

A: The core team has not finalized the list of documents that will be accepted. It depends on the advice of lawyers, the advice of moderators, and the results of the technical processing of the preliminary pilot data currently underway. Part of the reason for having a pilot is to determine which IDs are accepted.

Q: When will more slots be available?

A: The core team is currently reviewing the pilot data for any modifications to the KYC application, such as the types of documents to be accepted or excluded, adding more fields to gather relevant information. The core team wants to conduct as thorough a review as possible before releasing to more people to avoid having more people re-KYC if the application changes significantly. In addition, the core team is developing GDPR compliance measures. Therefore, it may take at least a few weeks for more slots to be released.

Q: How long does it take to process and approve?

A: For Pioneers who participated in the KYC pilot, these Pioneers will be the first to process once the human verification feature is in place, possibly after a month. The purpose of the KYC pilot is not only to get the Pioneers approved, but they are helping to improve the KYC application itself. So, not only does approval take time, our improvements to the KYC application also take time. Once the full version of the KYC app is released, we expect that each KYC may take 3-5 days, depending on the workforce of Crowd Validators in the country.

Q: Are the results of KYC definitive, or is it still a pilot test?

A: Participants' results will only be released in full when machine automation components are improved and human validators validate their data. Pilot participants will be the first to be verified in the full version. By then, the result will be final.

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