In the context of blockchain-based project, implementing KYC and Audit procedures helps establish trust and legitimacy. By collecting and verifying user information, such as identification documents, proof of address, and other relevant details, the project ensures that participants are genuine and adhere to regulatory requirements. That's why at POV Chain we make a point of having security certificates.
Know Your Customer (KYC) is a critical process in the financial industry that helps prevent fraud, money laundering, and other illegal activities.
Audit is an essential process that helps identifying any errors or irregularities, as well as potential risks or weaknesses in the financial system.