As we all know it’s a common tradition in the Web3.0 Space to use Avatars and Pseudo names to keep your identity hidden and it’s just a part of the decentralization aspect of the Crypto/NFT World.
It is commonplace to see highly influential people in the space use Profile pictures of their NFTs or anything and use their not-so-real names to ensure they have a separate identity over the internet than in real life.
Doxxing in crypto simply means to reveal the identity of any such person who has protected their identity as explained above. Doxxing others is a criminal offense since you deliberately take someone’s privacy and try to publicize something they have intentionally kept hidden.
However, it’s another story if these same individuals at a certain point decide to relinquish their pseudo-identity and reveal themselves to come out in the public, then it’s themselves who have made a decision for themselves.
Why is doxxing so important in Crypto/NFTs?
Any Crypto / NFT Project is like a Business and when they launch or mint, is when they are requesting the Public to contribute to the Business as Investors so they can earn Benefits like any normal company IRL does through an IPO.
Any Business in the World has an element of Risk involved and it’s not very different in Web3.0 either, you as an investor are taking a risk in investing your hard-earned money in a business, and you would want to know more about the Business and its Founder/(s).
Naturally, you would want to invest in a Business with an Experienced Founder and someone who has had successes in the past or has the reasonable experience that can lead to potential success. This is only possible if you know their identity and cannot happen if they are not doxxed.
This is why doxxing is extremely important, however, it comes with its own problems, the number one is exposing yourself to the risk of being tracked by those with malicious intentions which can potentially lead to harm.
What’s the Solution to doxxing in crypto then?
A credible solution is to get a Professional KYC Verification with Fraud Pursuit and Legal Accountability.
It solves the issue of Doxxing in Public and Being Legally accountable for the Project’s actions, therefore, securing Investors’ Investments.
If the Founders do get Professional KYC Verification, they will still be able to leverage their Professional Experience and Expertise, therefore, gaining the Trust of Investors for their Business but also Protecting them from anyone with Malicious intentions wanting to harm an Individual or those near them.