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General Questions (7)
What is KYC?
Most of the world refer to the KYC as Know Your Customer or Know Your Client. World KYC is not only focussed on merchants or banks and we see KYC as Know Your counterparty or Know Your Contact.
One of the only ways to protect individuals from identity fraud costin in excess of $50 billion every year.
How can I easily share my private data and authenticate myself on and offline?
Some might want us to believe that we live in a digital world and many people do spend most of their lives online away from harsh realities. You know the ones that feed their phone before feeding themselves (I’m guilty sometimes) and have to post everything online including the picture next to the sportscar they will never get to drive. But reality kicks in and we have to eat and work in order to stay alive and afford the pleasure of the virtual world.
Where is my data?
We have to share our real identity in the physical world in order to afford our virtual dream world. Unfortunately, we often give up privacy where it is not necessary when we get a SIM card for our phone, purchase alcohol in a liquor store, check in to a flight or hotel, fill out imigration and custom forms, open a bank or crypto exchange account on or offline... Our personal information is all over the world for hackers to steal.
What private information do I share?
I want to share my personal contact with family and friends, my business card details with my partners and prospective clients. The liquor store in California should only identify me and know that I am over 21. The R rated online content provider should just know I’m old enough. I want to share my detailed medical history with my doctor but just a subset with my insurance.
Who can I trust to keep it safe?
Notaries are regulated to authenticate us for legal and financial transactions.
Who has access and control over my personal information?
The European are leading the pack with The GDPR aims primarily to give control to individuals over their personal data.
I just received a call from a “Microsoft employee”. How can I make sure he is who he says he is and not a scammer?
In the old world you would want to authenticate the caller maybe with a video call and get a copy of this identity card. This is not practical and exposes you to compliance with privacy rules. Now you just ask the individual to get verified with World KYC and share his Stealth ID. If this individual scams you, World KYC will work with you and law enforcement to prosecute the individual.