The Libra Association is Thinking to Use Radical Approaches to Reach the Unbanked

[ChainDD report] October 9 (ChianDD) According to coindesk,the Libra Association is thinking of radical approaches to reach the unbanked in certain locations, including a “step-ladder” approach to know-your-customer (KYC) regulations.

The Financial Action Task Force (FATF) said it is open to working with Libra about potentially building new forms of digital identity.

Libra believes blockchain forensics firms like Chainalysis, Elliptic and Coinfirm will help strengthen the case for “tiered KYC” by monitoring wallet profiles and transaction histories.

Non-profits in the Libra Association like the Kiva Foundation may play a key role.


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