rich1.0npub19gq8ya0cwzxc2l3lcefrmtg0e0judfdp75cyxdfq2wssfzpckrts74xcwshttps://nostr.ae/npub19gq8ya0cwzxc2l3lcefrmtg0e0judfdp75cyxdfq2wssfzpckrts74xcwsnjumphttps://nostr.ae📅 Original date posted:2016-06-23 📝 Original message:On Thu, Jun 23, 2016 at 1:46 PM, s7r via bitcoin-dev < bitcoin-dev at lists.linuxfoundation.org> wrote: > > > > Any kind of built-in AML/KYC tools in Bitcoin is bad, and might draw > expectations from _all_ users from authorities. Companies or individuals > who want and/or need AML/KYC can find ways and do it at their side > isolated from the entire network, and the solutions shouldn't come from > upstream. AML/KYC/<insert other regulation here> differ from country to > country and will be hard to implement in a global consensus network even > if it would be worth it. > > This was precisely our thinking as well. This is actually exactly why BIP 75 was designed the way that it was. Any (voluntary) identity exchange is done at the application level, on an encrypted https (or other) connection between the sender and receiver. Identity data is not passed through or stored on the blockchain, and there is actually no mark left on the blockchain that identity was even exchanged on that transaction. The only people who know identity info was exchanged, or what the identity was is the counterparties in the transaction, and depending on implementation, their service provider. (At a high level, many software based wallet providers wouldn’t have any visibility into identity info, where many hosted services would, for example) We did this to protect user privacy as well as fungibility. We are allowing the people who want or need to exchange identtity info (either self signed or 3rd party validated) the option to exchange it, in a standards based way, directly between peers, without touching the blockchain or network itself. Is this more clear? -- Justin W. Newton Founder/CEO Netki, Inc. justin at netki.com +1.818.261.4248 -------------- next part -------------- An HTML attachment was scrubbed... URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20160623/30ac6899/attachment-0001.html> -------------- next part -------------- A non-text attachment was scrubbed... Name: PastedGraphic-1.tiff Type: image/tiff Size: 10972 bytes Desc: not available URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20160623/30ac6899/attachment-0001.tiff>