Hey Prof, I watched your video and I found it insightful. It effectively highlights the ongoing issues we are facing with financial censorship and restrictions, also in good timing as the issue with the telegram CEO is currently on the news. I would love it if we could discuss this further to explore how to proactively address these concerns and move forward in a way that benefits the community.
One idea could be adopting a system similar to Noones, which allows users to transact up to $700 per day and $10,000 in total using a phone number for registration without requiring further KYC. This would help lower the barriers to entry for unbanked users who lack government-issued IDs and it would also allow us to address the custodian issues common with centralized exchanges, which often carry the fear of trying to log in to your account and finding out that accessing your funds is restricted for whatever reason, along with the constant threat of delisting as is being discussed here as I hate the feeling of being held by the balls by them.
This works within the legal framework while mitigating these risks. What are your thoughts on this approach?