# AML and KYC

AML (Anti-Money Laundering) and KYC (Know Your Customer) are vital components for any company operating in the financial sector. When it comes to DeFi , since the vast majority of DeFi protocols are built in a permissionless manner and all smart contracts are on-chain, these platforms are not inherently dependent on successful KYC procedures by design to function. However, Ready Player One recognizes the importance of preventing illegal access/use of financial services and will take all necessary steps to provide a more transparent and secure space in this regard. The first strategy for Ready Player One is to obtain KYC information from all potential investors wishing to use the Ready Player One platform.

 

Additionally, as the Ready Player One service will be built on a multi-chain network (and subsequently expanded to other networks), block data and transaction history Ready Player One artificial intelligence (AI) algorithms will be utilized to gain useful insights and information about properties and Purpose of information for transactions made by Ready Player One users. In this case, Ready Player One plans to deploy bots that will help our team track down any illegal transactions and blacklist/block those addresses from using Ready Player One services. Additionally, the Ready Player One team plans to cooperate with all government regulators to prevent illegal activities within the DeFi space.