First of all awesome work with the IconFi app, Cefi has a huge following and this app really hits the mark. I hope to see icx used to as an option where instead of earning interest in the native assets you could opt for interest to be paid out in icx and offer slightly higher interest. (exactly what Celsius does with its cel token) only this is better as it’s the native token of the chain!
The above is not what I wanted to post about haha, I couldn’t help myself. I really wanted to talk through the KYC process. I asked @minhx on twitter and he responded right away, thank you! I did want to pass on some feedback so I have moved my thoughts here.
The current KYC process is handled by a third party, their process is I believe outdated. Having to hold a picture with a paper noting the date is a real barrier for the people we are trying to attract with this app.
We aren’t Mom and pop ready yet
Recently I used the Wirex app to get their visa debit card. Their KYC process was leaps and bounds ahead of every other experience I had. The app captured the pictures and a voice sample and a few other things and done. Every step it showed animations on how to take the pictures etc. I thought my mom and dad could do this no problem.
I do understand its the first version, I hope a revision of the third party service provider Is on the cards, I do believe this would help with user adoption as well.
Thank you for reading.