New users on the Pi Network can now speed up the KYC (Know Your Customer) process to unlock their mainnet wallets ahead of schedule
In a significant move to streamline the onboarding process and accelerate network growth, the Pi Network development team, also known as the Pi Core Team, has introduced an AI-assisted Fast Track KYC procedure. This update allows eligible users to activate their Mainnet wallets more quickly and securely.
The Fast Track KYC process is designed to reduce complexity for new users while maintaining strict verification standards. It uses Pi Network's own infrastructure, ensuring faster and more secure wallet activation. Despite the faster process, applications that fail checks will still be rejected, ensuring the quality of verification remains high.
One of the key benefits of the Fast Track KYC feature is that it gives the network better control over verification quality. This control, combined with the automatic screening provided by the AI, may result in stricter standards compared to the manual process. However, the change is intended to onboard more verified participants earlier, helping developers reach a wider audience for app testing and commerce use cases.
While the Fast Track KYC process allows users to activate Mainnet wallets before completing eligibility steps such as the 30-mining session rule, it is important to note that the migration of mined balances still requires meeting all checklist conditions. The wait period for KYC applications has also been removed with this update.
As of now, over 14.82 million users are fully KYC-verified and migrated on Pi Network's Mainnet blockchain. The introduction of Fast Track KYC is expected to further increase this number, contributing to a more active and engaged network.
The Pi Core Team plans to monitor and adjust Fast Track KYC over time, with lessons learned potentially accelerating the standard KYC process for all users in the future. The update aims to grow network activity without affecting migration rules, ensuring a smooth and secure experience for all users.
In summary, the introduction of the AI-powered Fast Track KYC feature is a significant step forward for Pi Network. It provides a faster and more secure onboarding process for new users while maintaining strict verification standards. As the network continues to grow, the Fast Track KYC process is expected to play a crucial role in onboarding verified participants and driving network activity.
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