[glocoin]

Hi there,

RE: KYC: For better or worse, KYC is necessary for a project like ours to prevent bad actors from creating duplicate identities, from which they could either A) launch a sybil attack or B) claim multiple UBI drops.

We understand that this is going to be a barrier to entry for some folks, but optimistic about progress on this front for a few reasons -- remittance companies are increasingly exploring crypto, mobile internet access is expanding rapidly, etc.

RE: skipping the crypto bit: something important to clarify here is that in the GLO model, the funds for UBI are a byproduct of people adopting GLO as money. The goal is to push the adoption of a new currency, and the printing of new money -- which ensures that there's enough of that currency in circulation -- is how GLO generates UBI. We understand that this is a bit more complicated than 'take $1 from one person and give it to another,' and therefore hard to explain pithily -- if you have any feedback on how we do so in our white paper we'd be glad to hear it [0].

Thanks for the great questions!

[0] https://docs.google.com/document/d/1E09fdrvBr_TgsUqODq-MROfo...