Cryptocurrency NewsBAT Founder Announces On-Chain Payouts Without KYC

BAT Founder Announces On-Chain Payouts Without KYC

During a recent community call, Basic Attention Token (BAT) founder Brendan Eich announced that the platform is planning to implement on-chain BAT payouts without the need for Know-Your-Customer (KYC) verification. This step is part of BAT’s ongoing roadmap, aimed at simplifying rewards for Brave browser users while safeguarding their privacy.

The introduction of on-chain payouts marks a significant milestone for BAT as it enables users to receive BAT rewards without revealing their identities, thus enhancing their overall experience. However, the ideal platform for these on-chain payouts is still being debated.

Brendan mentioned that they are currently evaluating two options: Solana, known for its scalability and low transaction costs, and Ethereum layer-2 solutions like Arbitrum and Optimism, which promise reduced transaction fees while maintaining security. Nevertheless, the community’s response to this announcement has been diverse.

Some users are enthusiastic about the prospect of KYC-free BAT rewards, appreciating the emphasis on privacy. On the other hand, some express reservations and seek reassurance regarding BAT’s execution of this plan.

Discussions on Reddit have brought attention to past commitments made by Brendan about finalizing agreements with a new custodial partner over a year ago, without any updates since then.

Furthermore, some individuals are concerned about Brave’s growth, which seems to have stalled in recent months. There are also worries about how Brave will navigate strict regulations, especially concerning KYC, as the crypto industry faces increasing rules and demand for KYC compliance.

Given that major crypto projects like Binance and Coinbase have faced legal actions, and certain protocols such as Monero have experienced restrictions on exchanges, particularly in the United States, people are curious about how Brave will handle these challenges.

Recently, the Brave team announced the development of a new feature called “Pay with BAT” for their self-service ad platform, Brave Ads Self-Serve. Advertisers will soon have the option to pay for their ad campaigns using BAT, the native token of the Brave ecosystem.

The Pay with BAT feature is currently in development and will be seamlessly integrated into Brave Ads Self-Serve. Once implemented, advertisers can conveniently use BAT from Ethereum, Ethereum-compatible blockchains, and Solana to fund their ad campaigns.


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