It’s not only important for companies to know which consumers they are dealing with, it’s also important for consumers to know who the developers are behind the project they invest in. Especially in the masternodes-space there have recently been lots of exit scams. Know Your Developer is one way for developers to verify themselves, and they will no longer be able keep their profile anonymous on the KYD website.
The work of KYD is very useful, especially in the masternodes space where many projects are actually scams. But until now developers have the option to be verified by KYD and still remain anonymous. That’s something that’s going to change.
KYD announced last month, after SecureCloudCoin (SC2) exit scammed on its community, that it will remove the private option from its website. From December 1st all developers verified through the KYD process will be made public. What information KYD will openly share is unknown, but it’s safe to believe that name, country and photo are among the revealed details.
The crypto startup advised people who got scammed, to contact their local authorities and have them contact the KYD team. They are willing to co-operate with police investigations against SC2. As a result of the scam, the KYD-group decided to change the rules on their website though.