Erik Voorhees Explains Why ShapeShift Ended KYC
No More KYC with ShapeShift!
ShapeShift used to be the go-to place for anonymously transferring between cryptocurrencies.
In 2018 a surprise move shocked the crypto community: ShapeShift was forced to run advanced surveillance on users, like all other exchanges. This practice which is forced on companies is not only ineffective, but also unethical and dangerous. It is warrantless collection and surveillance of personal, private information of innocent individuals.
But ShapeShift said “no more.”
They are ending KYC, and customers will now trade with decentralized protocols.
The future is decentralized, and ShapeShift is embracing it.
Erik Voorhees discusses the battle ShapeShift has fought over the past few years, and what the whole crypto space will face going forward.