The network KYC process is making good progress, allowing more than half of all Pioneers to submit KYC applications (though it will still take time for the network to submit, process and complete these KYC applications). It continues to scale to enable more Pioneers to go through KYC and process unprocessed applications that have been submitted. We are giving a more detailed update below.
Pi KYC (identity verification) is an essential requirement before a Pioneer can migrate their Pi balance to Mainnet. Remember that one of the main goals of the current Enclosed Mainnet period is to allow millions of Pioneers to pass KYC while various apps are being built to provide for a utility-based ecosystem. It is exciting that we are getting closer and closer to this goal!
Thanks to continued improvements in the KYC funnel and great work from Validators, KYC progress has been substantial thus far with a steady ramp-up of Pioneer KYC onboarding.
Specifically, Pi KYC has been bootstrapped with validators in 199 countries, compared to the 70 back in early April. The most up-to-date data shows that there are around 125,000 daily active human Validators all across the world validating KYC applications. These KYC Validators are now able to verify Pioneers’ identities at a rate of over 90,000 people per day (though this figure may differ day-to-day). These numbers should continue to scale as the KYC demands increase and more KYC’ed Pioneers join the Validator workforce, as we saw over the last few weeks. For a typical authentic Pioneer (without edge cases such as name appeals, missing data or unclear photos that prevent the machine algorithm from automating for human Validators), the time to process their KYC in most regions is usually less than a day. For some applications, it can take as short as 15 minutes.
The scalability of the Pi KYC solution, especially after the bootstrapping of the human validation workforce in a country or region, performs as expected by its design: at a speed and with worldwide coverage that the world has never witnessed before. This spectacular speed and wide coverage of KYC processing power and the rapid scaling to meet KYC demands are demonstrations of the decentralized crowd power of the global Pi community.
While the network has made good progress, we understand that many Pioneers are eagerly waiting for their turn or for their applications to be processed. Below are ongoing measures that will help more Pioneers pass KYC soon.
- Technical funnel improvements to handle the application and validation of more and more Pioneers at scale
- Human validation power to continue growing and bootstrapping more countries and regions
- Reducing the chance of false negatives of the ongoing funnel to pass more KYC applications, and reprocessing some submitted applications that are supposed to pass but were previously marked as negative
- Solutions for KYC applications that may miss critical data from previous applications, including some Yoti KYC applicants and some pilot Pi KYC applicants:
- For previous Yoti KYC applicants — the Pi Core Team has deployed a special fast-track Pi KYC flow for them to fill in missing data. For some Yoti KYC applicants experiencing issues with this flow, an additional feature is being designed to address these corner cases
- For previous KYC Pilot applicants — the Pi Core Team is currently building a reprocessing mechanism to match pilot applications with current KYC requirements, and a resubmission feature described below to essentially match the chances that current KYC applicants get when submitting their applications. For example, if a photo or video upload fails, current applicants would get multiple chances to resubmit, which was not possible in the pilot version of the KYC app
- A new resubmission feature is being developed and will be released soon to enable previous Yoti KYC and KYC Pilot applicants to resubmit a brand new application and get unstuck, if they choose so and do not want to wait for the custom solutions mentioned above, since the current improved and scaled Pi KYC solution can potentially process new applications within a short time
- A process to support Pioneers with complex name appeals, which create complications in processing their KYC and may require additional human Validator help to resolve
Please note that for certain countries or regions, due to the Pioneers’ unique way of accessing the Pi Network, it takes longer and more complex procedures for the Pi KYC machine automation component to process their accounts, thus leading to their delayed receipt of KYC slots. Therefore, it is possible that these countries or regions have slower KYC onboarding than other regions.
Overall, for Pioneers who are still waiting for their chance to submit KYC, please be patient as the network continues to scale the KYC solution and solve the corner cases that apply to you.
As always, thanks for your continued support and patience in building this revolutionary KYC solution with us. The Core Team, Moderators and Validators from the Pi community around the world are working hard to resolve any issues and process KYC applications as fast as possible! The network is making steady progress right in time to aim for its first Mainnet Migration around Pi2Day, June 28, 2022 🙂