Pi Network Records Milestone in KYC Process: New System Initiative Speeds up Approval

Pi Network has reached a key milestone in its Know Your Customer (KYC) verification efforts. The platform recently implemented an automated system that has enabled over 3.36 million additional users to complete KYC. 

This initiative reviewed more than 4.76 million cases previously marked as tentative, enabling many to complete verification and advance toward participation in the network's blockchain activities. The update addresses ongoing challenges in user authentication and supports the project's goal of maintaining a secure environment for its community.

Understanding KYC in Pi Network

KYC is a standard regulatory process used in the financial and cryptocurrency sectors to verify user identities and prevent fraud, money laundering, or other illicit activities. In Pi Network, KYC serves as a gatekeeper to ensure that only real individuals participate, aligning with the platform's policy of one account per person. Without completing KYC, users cannot migrate their mined Pi coins to the Mainnet blockchain or fully engage in the network's economic features.

The KYC process in Pi involves submitting personal identification documents, such as government-issued IDs, and performing liveness checks to confirm the applicant is a living person. Liveness checks typically require users to capture real-time facial images or videos in the app, often with specific face angles or movements to detect spoofing attempts, such as using photos or masks. 

Pi Network employs a native KYC solution that includes community validators who review applications, adding a layer of decentralized oversight. Tentative KYC status occurs when an application passes initial reviews but requires further verification due to inconsistencies or additional data needs.

The New System Process for KYC

The recent system update introduces an automated process to handle tentative KYC cases more efficiently. This initiative conducts additional checks on applications that were previously stalled, using data from prior submissions to determine eligibility for full approval. The process has been rolled out to address backlog issues, allowing Pioneers who have been waiting for resolution to move forward.

Specifically, the system reviewed over 4.76 million tentative KYC cases, resulting in 3.36 million full approvals. This represents a targeted effort to clear obstacles for users who had completed initial steps but needed extra validation. For those still in tentative status, the update provides a pathway: approximately 3 million additional Pioneers can become eligible by submitting required liveness checks via the app. These checks are designed to appear progressively, often after mining sessions, and vary in number and frequency based on individual application details.

“This large-scale system process includes complex mechanisms using advanced AI models and analyzing large datasets from liveness checks and KYC application data. It is designed to analyze Tentative KYC cases to verify both that each applicant is a real, living person and that their application passes the additional checks required to fully pass KYC,” Pi Network blog read. 

How the System Works: AI and Data Analysis

At the core of this system are advanced AI models that analyze large datasets compiled from liveness checks and KYC application submissions. The process verifies two main aspects: that the applicant is a real, living individual and that the application meets all required criteria without discrepancies. AI algorithms process facial recognition data, cross-reference it with submitted documents, and flag potential issues like duplicate accounts or fraudulent attempts.

The datasets include biometric information from multiple liveness sessions, including new face-angle checks introduced for both tentative cases and new applicants. These checks provide layered validation, enhancing the accuracy of identity confirmation. By automating these analyses, the system reduces reliance on manual reviews, speeding up processing times while maintaining security standards. Data from completed checks feeds back into the models, refining future verifications.

Benefits for Network Integrity

This verification mechanism plays a critical role in preventing cheating accounts from advancing. Enforcing the one-account-per-person rule helps maintain fairness among honest participants. Cheating could include creating multiple fake profiles to mine more tokens, which undermines the network's distribution model. The system's checks protect against such exploits, ensuring that Pi tokens are allocated based on genuine user engagement.

Overall, these efforts bolster Pi Network's integrity, fostering a secure and authentic community. This foundation supports the platform's Web3 ambitions, enabling real individuals to collaborate on decentralized applications without the risks posed by anonymous or fraudulent actors.

Key Numbers and Migration Statistics

Of the 3.36 million Pioneers who completed KYC through this process, around 2.69 million have already migrated their tokens to the Mainnet blockchain. 

Migration involves completing a Mainnet Checklist in the app, including confirming KYC status, agreeing to the network terms, and transferring testnet balances to the live chain. This step is crucial as it unlocks the ability to use Pi tokens in real transactions within the ecosystem. For the remaining approved Pioneers who have not migrated, the platform recommends checking their KYC status in the app and completing the checklist promptly. 

In the meantime, the numbers highlight the scale of the update: from the 4.76 million tentative cases processed, a success rate of about 70% achieved full KYC, with the rest potentially resolvable through user action. These figures underscore the project's progress in scaling verification amid growing user numbers.

Guidance for Pioneers with Tentative KYC

Pioneers holding tentative KYC status should monitor the app for prompts to complete additional liveness checks. These may appear after daily mining sessions and include instructions via in-app videos. Completing them promptly can trigger the system process, potentially leading to full approval. The number of checks required varies depending on the specifics of each application, such as prior data quality and detected anomalies.

If the app indicates the need for these checks, users are encouraged to complete them without delay to achieve KYC finality. Becoming a KYC validator or inviting others to complete their processes can also contribute to community-wide progress by increasing the pool of reviewers available for applications.

Conclusion

Pi Network's latest KYC milestone demonstrates its capacity to handle large-scale verifications through automated processes, resulting in 3.36 million full approvals and 2.69 million Mainnet migrations. This development reinforces the platform's commitment to security and user authenticity by leveraging AI and data analysis to enforce policies, such as the one account per person policy. 

For remaining tentative users, completing liveness checks offers a clear path forward, while active engagement can expedite processes. The update contributes to a more robust foundation for the network's Web3 ecosystem, emphasizing the importance of verified participation in sustaining long-term viability. Pioneers are advised to stay engaged with the app and community resources to navigate these steps effectively.

Sources: 

• Pi Network Blog: https://minepi.com/blog/system-process-unblocks-tentative-kyc/
• Pi Network X post: https://x.com/PiCoreTeam/status/1981469535057142263