Pi Network Gives Important Update on KYC, Sees Significant Progress
Pi Network has provided an update on the project’s KYC development and described what Pioneers should expect moving forward.
The Pi Network blog dated December 6 described the enhancements made to the KYC process, the following phases, and the general priorities. This was the team’s first significant update since July 2022.
The Pi Network staff is able to quickly KYC millions of Pioneers thanks to better automation. The Pi team’s primary goal is to assist users who are currently going through the KYC process in finishing it.
“[T]he KYC work is not only about scaling and allowing people to pass but also to ensure that overall KYC goals are achieved—to let real Pioneers in different countries and regions pass KYC as accurately and safely as possible while preventing as many fake accounts as possible,” the blog post narrated.
The KYC advancement entails enhancing and broadening the procedure while simplifying the KYC process for users. Additionally, the team is attempting to unblock the growing number of stalled applications.
The Pi Core Team aims to continue KYC’ing millions of members using enhanced automation and AI.
For all Pioneers to enter the Pi Mainnet, they must first complete the KYC procedure. The Pi Network team identified three key areas of focus for KYC development:
- Improve the KYC app
- Increase and accelerate KYC to the growing number of Pi users
- Improve communication with users going through the KYC process
The blog listed ecosystem expansion and KYC as two major priorities for 2023. The team requested your patience as it worked with its millions of members spread out around the world.
Over the years, Pi Network has developed, hosted a hackathon, created a few functional Pi blockchain apps, and is currently completing the switch to the mainnet.