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PeiLin

Decentralized point-to-point KYC introduction (ie ENU's UBI's KYC introduction)

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Please note that the post was originally in Chinese, I translated it by google translate, so there might be many grammatical mistakes

We know that the main goal of ENU is to do UBI, which allows everyone to earn a certain amount of income on a regular basis for free and on average. The most difficult challenge to achieve this goal is to prevent some people from collecting UBI by mass-making fake accounts, that is, preventing someone from licking wool or preventing Sybil Attack.

To prevent slashing, the witch attack requires KYC for the UBI account (for UBI, it is confirmed that the account corresponds to a real user and the user only owns this account). Traditional KYC generally uses a user to send a selfie and an ID card photo, or a self-portrait with a hand-held ID card, etc., and strictly speaking, it is nothing more than video verification. But these KYC methods have many shortcomings, such as:

1, cheaters can buy ID cards and selfies and other information at a very low price plus PS and other means to cheat wool. 
2. An honest UBI applicant applies for information such as his/her ID card. If the reviewer is malicious, the applicant's privacy information may be disclosed or sold. Even if the reviewer is not malicious, there may be cases where the database is hacked and the applicant's privacy information is leaked. 
3, the cheater colluded with the reviewer. So that the fraudulent account of the cheater is easily passed. 
4, AI face change technology can easily PS video certification data, but also allows the cheater to easily pass the audit.

In response to the shortcomings of these traditional KYC methods, the ENU team has replaced many programs, but the team has now confirmed the plan to decentralize the point-to-point KYC.

Simply put, every UBI application account can get the same amount of tokens every day, but if it is a cheating account, the tokens it gets will be worthless because it has no liquidity.

Trust relationships can be established between accounts. If two accounts trust each other, they can exchange each other's tokens 1:1. 
This assumes that there are four accounts of a, b, c, and d, each with 100. Tokens. d account holder owns a piece of bread (or 0.001btc); 
a and b trust each other, b and c trust each other, c and d trust each other. a want to use his own 100 tokens for a piece of bread, and d is willing to use a piece of bread for c to 100 tokens, but a and d do not trust each other; 
this time can initiate a transaction, b with 100 b generation The currency is exchanged for 100 c tokens, and then a is exchanged for 100 c tokens from the b account with 100 a tokens. In the end, a account has 100 c-tokens. Because c and d accounts trust each other, a uses 100 c-tokens for a piece of bread, and two accounts with no trust relationship complete the transaction.

This innovative approach completely avoids the shortcomings of traditional KYC. First of all, this method does not force users to provide information such as ID cards, selfies, etc. that will reveal their privacy. For example, if a microblogging big V microblog says that account X is my ENU account, then account X will definitely gain the trust of many other users. If this big V has a friend in real life with account Y, then this friend is not needed at all. To provide any private information, you only need this friend to say to Big V, and Big V can set Account X to trust account Y. In this way, the account Y can be traded with many other accounts that directly or indirectly trust the account X without completely revealing any privacy.

The most important point is that in this KYC, the method of building multiple accounts for wool by one person is completely unworkable. Suppose someone creates 100 cheat accounts to get UBI. Since these accounts basically only trust each other internally, they can't generate any actual transactions (because all accounts are held by the same person, the transactions between accounts are equivalent to the left hand. Right hand). So the tokens of these 100 accounts basically have no value. Assuming that an honest account trusts some of these 100 accounts, these cheating accounts can use their worthless tokens to obtain valuable tokens for this honest account, so honest account benefits are compromised. . Therefore, in order to protect their own interests, the vast majority of honest accounts will strictly carry out KYC, they will only trust the accounts of those who know in real life, or the accounts of various highly trusted users in the network. So that the entire UBI network develops healthily.

Of course, these are just some simple plans in the early stage. In the later period, if all goes well, it will introduce mechanisms such as recommender mechanism, middleman fee, trust score, etc., so that ENU's UBI develops better and faster. Let us wait and see!

Reward address:

ENU: pei.lin

BTC: 1Pq7UHytEZQdnzuRoWe8BWFtNzB3GqCSSV

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