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PI KYC Update See Significant Progress


 

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.


Pi Network Continues KYC Progress:


Pi Network issued an update on the project’s KYC progress and explained the next steps for Pioneers to expect.

With the first major update from the team since July 2022, the Pi Network blog from Dec. 6 detailed the improvements made to the KYC process, the next steps, and the overall priorities.

An improved automation process is helping the Pi Network team KYC millions of Pioneers at an amazing pace. A main focus for the Pi team is to help users currently in the KYC process continue and complete it.

The KYC progression includes improving and expanding the process while making it easier for users to go through the KYC process. The team is also looking to unblock the increasing number of stuck applications.

“...[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 writes.

The KYC process is an essential step for all Pioneers to take the step into the Pi Mainnet. The Pi Network team outlined three main focuses for the KYC progress:

  1. Improve the KYC app
  2. Increase and accelerate KYC to the growing number of Pi users
  3. Improve communication with users going through the KYC process

The blog outlined KYC and ecosystem development as key focuses heading into 2023. With millions of members across the globe, the team asked for patience in the process.

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