PI Network rolls out AI assist to fast-track KYC on Mainnet ecosystem

Source Cryptopolitan

Pi Network has introduced an AI-powered Fast Track KYC process, opening earlier access to the Mainnet ecosystem for new and prospective users.

In a statement published on its web page on Thursday, the Pi Core team announced its new “Fast Track KYC” feature. It said the system integrates artificial intelligence (AI) into the network’s know-your-customer process and cuts waiting times for Pioneers and even non-users who want to join.

The upgrade comes against the backdrop of a previous change that permitted KYC-verified users to activate wallets before completing a full Mainnet migration. Newcomers were previously required to complete 30 mining sessions before becoming eligible for standard KYC submission. 

According to the project’s team, the rule created a natural delay between signing up and accessing the Mainnet, and will be removed with the integration of the Fast Track KYC.

Pi Network launches fast wallet activation without migration

The new feature opens doors for Pioneers with fewer than 30 mining sessions to submit identity verification and activate a Mainnet wallet. Non-users can also apply if eligible, and if selected, the option will appear directly in the Pi Wallet app, where verification and wallet activation will be instantaneously available.

Once verified, users can begin using the Mainnet wallet together with Pi applications, local commerce, and community events. However, the new process does not yet allow migration of mined balances. Transfers are still restricted until applicants meet the 30-session threshold and complete the full Mainnet Checklist, which includes the standard KYC process.

The Core Team also wrote that Fast Track KYC is “a native solution within the Pi ecosystem” that reduces reliance on third-party providers. They added that Banxa, an onboarding service on the ecosystem, is “no longer the only available path.”

“Fast Track KYC does not guarantee fast passing and does not compromise the quality of KYC acceptances,” the blog read. The team added that rejections will occur if applications fail to meet the same requirements as regular verification.

Standard verification counts 14.82 million pioneers

Pi reported that more than 14.82 million people have already migrated with verified KYC status to its Mainnet blockchain. The project doubled down on its commitment to compliance and verification, noting that its approach is in tandem with industry standard ERC-3643, which incorporates identity and compliance logic directly into public network tokens.

“Identity verification via KYC is important for the integrity of the network, compliance, and readiness for integrations,” the Pi team stated.

Alongside the Fast Track KYC launch, Pi confirmed a policy expansion for users in Syria following the termination of the US government’s Syria Sanctions Program in late June, through Presidential Executive Order 14312.

Consistent with the change and with applicable laws and regulations, Pi KYC services are now available to eligible individuals located in Syria. 

Pi coin down 0.5% after Fast KYC announcement

The launch of Fast Track KYC gave Pi Coin a modest gain in market value, which saw it rise 0.42% to enjoy a brief tenure above $0.3620, but after a price correction on the negative side, the token fell 0.54% to change hands at $0.3565 at the time of this publication.

On the seven-day chart, the token is consolidating within a bullish pennant pattern, painting the graph with more green signals. Resistance lies between $0.360 and $0.365, while support was seen around $0.341 to $0.345.

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