This week on Missing Links Stephen, John and Brock talk about Fiat on-ramps and off-ramps.

Most financial apps built in web 3 require an on-ramp and off-ramp service to exchange currencies between fiat and crypto. With the adoption of cryptocurrency in the mainstream, governments and regulatory authorities had to step in to put in some laws to stop  illegal activities that may be carried out by the use of cryptocurrencies. 

Know Your Customer or commonly known as KYC was put in place as a legal requirement to comply with the new laws. An effective KYC requires 3 things

1. Knowing customer's identity
2. Knowing their financial activities
3. Knowing the risk they pose

All cryptocurrency exchanges and wallet providers are required to integrate KYC processes. There are some issues when it comes to KYC as each exchange and wallet requires their own KYC process, which is an issue that needs a solution if more people are to use cryptocurrencies as the main mode of payment. 

Listen as the guys talk about the regulations around cryptocurrencies, the issues with the current KYC procedures and how it effects web 3 as a whole.