Know Your Customer, or KYC is the process of identity verification to ascertain that the person speaking to us is really who she/he says they are, that is, the owners of a project.
Free KYC for ALL!
Every project owner is given a free KYC to ensure that we avoid scams and rugpulls on CORE Chain. We will be partnering with Crypto Law Enforcing Agencies that will police all affairs regarding any crypto scam on listed on CorePad.
How does it work?
The identities of the project owner is determined by submitting ID documentation (Passport, National ID) to an automated platform. This is similar to the KYC process needed when opening up a trading account on a major exchange like Binance, for example.
Also a 30 secs video recording of project owner or owners with their ID Cards.
What Does it Mean For You?
The KYC process aims to rid our platform of scams and rugpulls by acting as a deterrent for dubious devs and trust for safu devs. If any of the KYCed project’s team members scams investors:
Report and file a case against project team based on location.
We will reveal their identities.
We will make this information public for those wanting to file criminal charges.
To project owners: If you want investors to trust you, we highly recommend that you apply for KYC verification. This will bring legitimacy to your project and trust for your community and investors.