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KYC will come later, when will be applied to all spark providers.
Now is the trap being advertised as "non-custodial". LIES
Why Blink choose this path?
As Darth will no doubt point out, I seem to have a fascination for these trustodial setups.
I suppose it's all in the name of convenience and navigating regulation.
There seems to be a big chunk of users who do not want to run a lightning node and probably who do not want to manage channels.
Phoenix kinda solves it but phoenixd still means running a server.
Ecash solves it but then who is going to run the mint?
Bark and arkade solve convenience, but users still need to come online every month or two weeks and the unilateral exit isn't exactly easy.
Spark solves it but it seems like it's almost the same as custody. It seems to me that the tradeoffs between Spark and plain vanilla custody are more or less the same.
The big problem is that people talk about Spark like it's not custody. Which was what everyone used to dislike about ecash, if I remember correctly.
Do you see a strong difference between Blink's custody option and Spark?
I think I'm going to start calling preferring a custodial lightning wallet over Spark LNDS: Lightning Network Derangement Syndrome.
Thanks for not being part of the derangement.
I haven't been using blink, but maybe such verification with a phone number won't be requires for the non custodial option.