Basic Attention Token to implement KYC-free on-chain payouts
In a recent community call, Basic Attention Token (BAT) founder Brendan Eich said the platform would implement on-chain BAT payouts without Know-Your-Customer (KYC). This development, he adds, is part of BAT’s ongoing roadmap, which aims to streamline rewards for Brave browser users while preserving their privacy.
Introducing on-chain payouts represents a significant advancement for BAT. It offers users the convenience of receiving BAT rewards without revealing their identity. This could, in turn, enhance user experience.
However, the ideal platform for on-chain payouts is still being discussed.
Brendan said they are evaluating two options: Solana, known for its scalability and low transaction costs, and Ethereum layer-2 solutions like Arbitrum and Optimism, which promise reduced transaction fees without compromising security.
Even so, community reactions to the announcement have been diverse.
Some users are enthusiastic about the prospect of KYC-free BAT rewards, appreciating the emphasis on privacy. On the other hand, some express reservations and seek assurance regarding BAT’s execution of this plan.
Discussions on Reddit have drawn attention to past commitments made by Brendan regarding finalizing agreements with a new custodial partner over a year ago, and updates have not been provided since then.
Others think Brave’s growth has stalled in recent months.
Some people are concerned about Brave’s capability to comply with strict regulations, particularly regarding KYC. Many are curious about how Brave will handle these challenges as the crypto industry faces more rules and a higher demand for KYC.
Major crypto projects, such as Binance and Coinbase, have faced legal actions, while certain protocols, including Monero, have encountered restrictions on exchanges, particularly in the United States.
Recently, the team said the Brave Ads Self-Serve, the self-service ad platform catering to businesses and individuals, is gearing up to introduce a new feature called “Pay with BAT.”
With this upcoming addition, advertisers can pay for their ad campaigns using BAT, the native token of the Brave ecosystem.
The Pay with BAT feature is currently under development and will soon be seamlessly integrated into Brave Ads Self-Serve.
Once implemented, advertisers can conveniently use BAT from Ethereum, Ethereum-compatible blockchains, and Solana to fund their ad campaigns.
