What is Pi Network KYC?
Pi Network KYC or “Know Your Customer” is a procedure to first identify and then verify Pioneer identities, to comply with regulations and to ensure that Pioneers within the global Pi Ecosystem are real individuals.
The vision of Pi Network is to build an inclusive and the most widely-distributed digital currency and ecosystem for all Pioneers. Pi Network’s mining mechanism is social-network based and relies on contributions of real Pioneers. Therefore, Pi has a strict policy of one account per person.
This requires a high degree of accuracy to establish that members in the network are genuine human beings, preventing individuals from being able to hoard Pi by creating fake accounts unfairly. KYC thus helps ensure the true humanness of the network.
How does the KYC solution work?
Pi Network’s KYC solution is being built through our Pi App Engine as an ecosystem app. Keep in mind that this solution attempts to address accuracy and privacy, while achieving scalability for millions of KYC, wide coverage of diverse populations, and accessibility.
Our KYC solution itself combines machine automation and human verification in order to accomplish accurate and efficient KYC for everyone. Machine automation will be responsible for processing, analyzing, and obfuscating Pioneer information. KYC’ed human Validators may then have to check certain parts of the obfuscated information and submitted documents. The importance of having and improving the machine automation component are threefold: 1) scalability to KYC millions of Pioneers, 2) reducing the data exposure to human Validators to better protect Pioneers’ privacy and 3) catching the maximum number of fraudulent applications.
Specifically to protect individual Pioneers’ privacy, personal data—except for data the machine failed to read—will be properly redacted. Human Validator will be previously KYC’ed Pioneers who opt in to work as a crowdworker in the KYC app to verify redacted ID documents and selfie images to help ensure that the information is correct.
Human Validators are randomly selected from a pool of crowd workers from the same country of the ID document provided. Before verifying real Pioneers, they must first agree with the Validator Service Agreement of the app and then go through a tutorial to train their verification skills. Since these Validators’ work is constantly cross-validated to prevent bad actors, providing consistently inaccurate verification will lead to their removal from the workforce pool.
Given that the Core Team has scaled the machine automation part as needed, the network KYC progress now primarily depends on how many good human Validators there are in each local community to process the human verification step of the KYC solution.
As more Pioneers get KYC’ed, more human Validators are available to validate others. This way, the KYC solution can support the widest variety of countries and regions ID types in the world, making Pi as accessible as possible.
What makes the Pi KYC Solution unique?
Most other projects outsource KYC to a third-party KYC provider because the process to verify lots of people from almost all the countries is an extremely difficult problem. However, every third-party KYC provider charges a fee for each KYC check. To allow Pioneers the opportunity to participate in the Pi Mainnet regardless of financial barriers, Pi Network has designed and built its own KYC app to provide KYC checks that are free of out-of-pocket charge for all Pioneers, and cost 1 Pi each to compensate human Validators for their work. This is part of our continued efforts in striving for inclusivity.
Furthermore, given the millions of Pioneers in over 230 countries and regions and the scale of KYC checks needed, it is impossible to outsource the process to any third-party in the first place, because no other KYC solution in the market provided KYC services in almost all countries and regions in the world as widely distributed as the Pioneers. Hence, we innovated this native solution that can scale the KYC process in both volume and diversity of identity by leveraging machine automation and the crowd power of Pi’s distributed global community—Pi Network’s ultimate strength.
Lastly, Pi KYC also helps create true utility of Pi itself in the Pi ecosystem. It is a perfect representation of how the entire Pi ecosystem works—a native, decentralized community where labor is exchanged and real utility is created, for the Pi cryptocurrency with no fiat involved.
KYC next steps
The majority of the network was enabled to apply for KYC in June 2022. Most recently, Pi opened up KYC applications to all! This was partially achieved by a Tentative KYC program which allows newly KYC-enabled accounts to be able to apply to KYC and undergo additional verification checks when needed. Only after they have submitted the necessary documents, passed reviews by Validators, and passed any additional checks, do they attain the “passed” status. Such additional checks will combine the newly submitted information to further verify their identity. The Tentative KYC program gives accounts with more complex properties a chance to proceed with KYC and provide proof of their identities as real humans, while exercising caution in granting “passed” status.
The reason for such an eligibility rollout to KYC and the selective Tentative KYC program is to ensure the integrity of the network—cautiously allowing as many real human Pioneers as possible to pass KYC, while catching and preventing as many fake and bot accounts as possible. Not only is this important for the network, but it’s also fair for all human Pioneers who have been honestly mining in their own accounts. Read the KYC Frequently Asked Questions for more information.
The design of the Pi KYC is a revolutionary decentralized and scalable KYC solution while maintaining privacy, accuracy, scalability, wide coverage of diverse populations, and accessibility. It has helped verify millions of Pioneers and enable them to migrate to the Pi Mainnet blockchain and participate in the Mainnet ecosystem. When the Pi KYC solution successfully verifies the identity of the majority or all of the millions of Pioneers, the Pi KYC along with the community’s decentralized efforts will enable Pi Network to be the largest KYC’ed and crypto-enabled social network, getting the world ready for easy development and deployments of future innovative services involving finance, economics and ownership, thus further advancing it towards the Web3 era.
Be sure to fill out your KYC application now, and participate in this historic undertaking by becoming a Validator.
KYC Slots
KYC is on public release to over 18s however not everyone is eligible:
New users need 30 mining sessions ( a session is 1 day of mining)
some accounts have been flagged for operating against terms and conditions, if you think this is a mistake you can request human investigation at https://minepi.com/kyc-application-access .
However if you're not eligible instead of saying that it will say there's no slot available.
Popups
KYC popups occur for eligible users but not guaranteed so check Pi browser too.
If for some reason you don't want to KYC right now and you get the popups you'll have to put up with them at the start of mining sessions.
You will need to install "Pi Browser" to access the KYC process.
Tentative Approval
Means for unknown reasons your KYC requires additional checks. We don't know if this is applied on an individual basis or a regional basis.
It's amazing how much they wrote about this that doesn't explain anything
They aim to deal with these cases in Q2 (April to June)
Submission
KYC with no problems should be approved with in 15mins — I think we can assume there's an excess of validators everywhere ��
"Review in progress" — awaiting validation
"Tentative approval" — see above
you may notice there's no failed screen — failed and "had an error" is part of "review in progress"
Name changes
Some name changes are processed by machine. Checks that require more human intervention will be address later in Q2 (April to June)
KYC Approved but not in checklist
this is an issue affecting individual users and there's no one fix for everyone.
What can we learn from why Pi Network requires KYC
The mainnet blockchain is intended to be an " a identity-verified, compliant and utilities-driven ecosystem "
There's not going to be any unverified people, there's not going to be external wallets creating unverified people. No one is going to have multiple wallets or wallets outside the Pi Ecosystem.
Немного о насущем !
Монета Pi-Network не торгуется и ничего не стоит на данный момент и вывести её невозможно, сейчас мы находимся на 2 фазе с 14 марта 2020 года, с началом 3 фазы будет выход на биржу и фин рынки с запуском валюты, которая в свою очередь приобретет рыночную ценность, по которой вы и сможете продать свои Pi монеты.Выход на биржу планируется в этом году, точной даты выхода нет! Все, что вы сейчас можете найти на бирже: фьючерсы, CFD, или фейк, но никак не сама валюта, торговля фьючерсами запрещена политикой проекта.
Через Yoti будете проходить KYC, KYC это идентификация, верификация личности, с целью проверки данных вашего аккаунта на правдивость и подлинность.KYC нужен для того чтобы вы могли претендовать на монеты Pi-Network. Yoti — сторонний провайдер KYC, которому Pi Network разрешает запускать процесс проверки личности (KYC).Yoti далеко не последнее место занимает на рынке в своей нише, не стоит переживать за свои данные, доступ к данным есть только у вас! Скачайте заранее Yoti с Плей маркета или APP-Store установите, сфотографируйтесь, загрузите документы которые имеются Загранпаспорт, ID паспорт, В/У международного класса и ждите приглашение в приложение Pi.Приглашение приходит рандомно! Как придёт приглашение KYC, нужно обязательно активировать, нажав на кнопку CHECK DOCUMENTS, далее выбираете страну, документ который загрузили в Yoti и после перекинет на Yoti для дальнейшего прохождения KYC. И если не нажмёте CHECK DOCUMENTS и выйдете с приложения, то приглашение пропадёт и придётся ждать новое. Подтвердить свою личность нужно в течении 48 часов!Участвовать в проекте Pi-Network можно с 13 лет, при наличии загран паспорта. Yoti паспорт РФ не принимает, в будущем будет альтернативный способ прохождение KYC и по РФ паспорту! Номер и фейсбук нужен для входа в свой аккаунт и смены пароля, одной из двух верификации будет достаточно.
Верификация номера, включите роуминг, почистите кеш, проверьте баланс, отправьте на номер Бельгии, Израиль, Польша. Верификация номера вручную: Нажмите ниже — мануал. Отправте обычное СМС на номер Бельгии, Израиль, Польша. В процессе из приложения не выходить, чтобы код не обновился. Дождитесь доставки смс и под кодом в приложении нажми I have sent the message.Добавлять людей в круг безопасности нужно исключительно тех людей, кому вы доверяете из своего круга общения, эти люди будут подтверждать ваши транзакции, а вы их. Они же будут служить вашими ключами для восстановления аккаунта если вы его потеряли.
Уважаемые пионеры, в чате запрещено размещать номера телефонов, адреса кошельков, размещать ссылки, флаги, общаться на другом языке, ссоры, конфликты, не приветствуются, уважайте участников чата, спасибо за понимание! Все ответы на часто задаваемые вопросы, вы можете найти в шапке чата (Mods FAQ)
Pi Network KYC Walk-Through Guide
Do you need help with the Pi Network KYC process? Check out this helpful guide from YouTube.
Pi Network KYC Help
The KYC process for Pi Network is one of the most important steps in the progression to the Pi Open Mainnet. According to several reports, the delays to the upgrade to the Open Mainnet have been caused by the incredible amount of KYC necessary to onboard Pi Network users.
There are over 38 million Pi users—affectionately known as Pioneers—across over one hundred different countries. The massive user base has caused the Pi Core team to take several innovative steps to accelerate the KYC progress, including bringing in new artificial intelligence software.
YouTube Wes Spencer gives a full in-depth walkthrough of the whole process. Spencer’s over 15-minute video will take you from start to finish and give helpful hints about navigating the sensitive process.
Remember: One mishap could set your account back!
Here are some of the things reviewed in Spencer’s video:
- Getting Started and How to Get Selected for Pi KYC
- Document preference: National Driver’s License vs. Passport?
- Basic Information Check and Review
- How to Do the Identity Confirmation and Liveness Check
- Data protection
What is Pi Network:
Pi Network is a mobile blockchain mining project on a mission to give everyone access to the cryptocurrency revolution. The project was founded by a team of Stanford University Ph.D. candidates who designed a mobile-friendly blockchain mining algorithm.
Pi Network has evolved over the years and has organized a hackathon, built a couple of working Pi blockchain apps, and is now in the final stages of transition to public mainnet.
Where to find Pi Network:
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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