"KYC" - Know Your Customer/Client
It means validating real Humans from Bots, fake and multiple accounts. It will verify you as real human by supplying some valid documents. This documents will match to your info to a certain extent and If their is discrepancies, they can be fixed.
Yoti is the 3rd party provider Pi Network employed for the few members that went through the KYC process. For some countries, you need a passport, while others will use national ID/Passport/Driver's License. You have to be invited by the Core Team to go through KYC verification process.
It would be seriously great if we could get KYC done for everyone sooner rather than later. However, the cost is an obstacle right now. The Core Team actually paid for few members that went through the process - imagine having to cover the cost of over 5 Million Pioneers KYC's - that will be extremely expensive for the Core Team to bear.
Hopefully, the Core Team might implement Pi Network's KYC without involving 3rd party provider again. This will relief the Core Team and the members as well. Friends, let's have patient and hope for that!
Fingers crossed 🤞😁