Who should we trust with our data?

Centralization is a major issue these days. Corruption, data privacy problems, and inefficiency are everywhere. No one knows where their KYC info ends up or who will access it.

Yeah, and we need to know who’s behind these companies. How can we trust them if we don’t have a system like KYP? We should be asking more from them before giving up our info.

So, what should we actually know about these providers? Like a checklist or something?

Here’s a simple list to start: 1. Legal name 2. Tax ID 3. Address 4. Grievance officer details What do you all think?

Good starting point, but we need more info. What if they sell our data? What can we do then?

Honestly, that’s why I think KYP is a long shot. Providers won’t just hand over that info. They’ll ignore us.

Boycott them. If they ask for KYC and don’t offer KYP, why support them? Simple.

But putting their ID out there isn’t fair either. They need to protect their stuff too. Still, we should verify through SEC or similar.

KYC is all about accountability, not transparency. Regulators want to keep tabs on both sides. It's a mess.

We definitely need better data protection laws. Maybe something like GDPR is needed globally.

What about how they store our data? I need to know the security measures. Where’s my data and who can access it?

Tech could solve this. Blockchain and smart contracts might lead to better practices, right?

Well, once registered, businesses must share some info. But it’s the shady ones that worry me.

Sure, we can demand KYP, but how do we enforce it? They won’t comply.

They might not, but we have the right to choose who we do business with based on transparency.

I like the idea of KYP, but it’s unrealistic. Companies won’t cooperate just because we ask.

Common sense says we can trust some exchanges over others. Like Coinbase, they seem legit.

Trustless exchanges on Ethereum seem promising. They might make KYC obsolete if more people embrace them.

People shouldn’t just give up info without demanding reciprocity from providers. It’s about time.

Also, how do we prove a company sold our data? What’s the follow-up for us?