Virtual Rehab’s evidence-based solution uses Virtual Reality, Artificial Intelligence, & Blockchain technology for Pain Management, Prevention of Substance Use Disorders, and Rehabilitation of Repeat Offenders.
OK. We surely know that this is not the most popular topic for many of our bounty participants. However, we do need to address it, and not only through a tweet, as we have the utmost respect to those folks who are supporting us on this great journey.
So, let’s start by explaining what is KYC for ICOs?
First off, KYC is an acronym for “Know Your Customer”.
In simplified terms, this is the process that needs to be undertaken by an individual (an investor and/or a bounty participant — in our case) in order to prove their identity and to ensure that there isn’t any laws or any regulations preventing them from participating as part of the token sale and in this case, the bounty campaigns.
Typically, individuals would need to submit a copy of a verified government ID (passport, national ID card, driver’s license, etc.) along with a selfie with the document being submitted, and in some cases a utility bill (with a proof of address) may also be requested. Now, any additional documentation requested is really up to the company running the ICO.
However, it is important to note that this information help in preventing fraud, money laundering, and investments from individuals who are on watch lists, per se. Therefore, this is a very normal process, and if anything, it should protect both companies and investors from any potential high risk and fraudulent activities.
How would you feel if you were investing in companies that accept investments from suspicious individuals or those who are on a watch list or those with ongoing criminal activity?
We would assume … Not so good ! (at least we hope so)
Now, you are probably thinking — this is all understandable, but I still don’t get why should a bounty participant (who’s sole purpose of participating is to help spread awareness about a company’s ICO in return for some reward) needs to go through KYC?
Great Question !
But let’s first have a look at the way the Virtual Rehab Bitcointalk bounty thread now looks like:
As you can see, we now have, on the very top of the thread, the requirement for completing the KYC in order to be eligible for any $VRH rewards.
So back to the earlier question — why did Virtual Rehab decide to enforce this KYC requirement on Bounty Campaigns participants?
Well … A couple of reasons …
First and foremost, we have witnessed an increased number of tweets that fail to educate potential investors (who are unaware of what Virtual Rehabactually does) on the Virtual Rehab business.
Unfortunately, these tweets were pure shilling, exaggeration in the love and the appreciation of our business, repeating tweets from other bounty participants, and in some cases, even misleading, to say the least.
Below are some examples of such tweets:
We think you get the point !
Like folks, come on, such tweets, even if you had good intentions, are doing exactly the opposite of what a bounty campaign is meant to achieve.
Once again, a bounty campaign’s objective is to educate those who are not aware of the Virtual Rehab business; about the work we have been doing and the plans we have for the future.
We do not wish to mislead any potential investor nor do we want to be viewed as a scam. Yes. A scam. Such tweets could potentially have a reverse effect on potentially interested investors.
Hence, if you recognize the above tweets and have been sharing such, we ask you to kindly stop doing this, and start sharing more thoughtful tweets in the future. Unfortunately, anyone who continues to share such tweets will receive a warning, and should that individual continue to do so, then this person will be banned and removed from the Virtual Rehab bounty campaigns.
Below are some great examples of educating tweets:
These are just a few examples of many great tweets about Virtual Rehab. Thank you folks for your support.
Now, the second reason for enforcing KYC is for the mere fact that we have been witnessing many bots and many fake accounts that are taking part in this Virtual Rehab bounty campaign.
Needless to say, these bots and fake accounts are in no way acceptable and they will be blocked as we identify their activity.
It is simply not fair to keep these accounts, especially that they are taking the rewards that should be allocated to those who are working very hard to promote Virtual Rehab in a proper manner.
The last reason why we have decided to enforce the KYC requirement is simply because we want to ensure that we fully adhere to laws and to regulations.
Since inception back in 2017, Virtual Rehab has always stuck to good and to ethical business practice and strongly believe that that’s the only way to go. Therefore, we will do everything to ensure that we keep our business integrity and business honesty towards our investors, potential investors, and even those who only look-up to (and support) our mission.
Finally, should this KYC requirement result in individuals withdrawing from the Virtual Rehab bounty campaign, then we completely understand and completely support your decision.
Ladies and gentlemen, that’s all we have for you today. Hopefully, it all made sense to you. In case you have any more questions, then please do not hesitate to contact us. Drop in at our Telegram channel. We have over 20k members, so we would love to have more.
Oh, one more thing ! Our Private Sale is now OPEN ! So, if you are interested in supporting us (and we hope you do), then please drop us a line at [email protected] and we would be happy to tell you more.
And always remember …
Be Safe and Make a Difference in this World !!!
Peace Out !