KYC is a real person review that only examines a small part at a time, so there will basically be no data leakage issue.

Pi Crisis Erupts! Core Team Controls 82.8 Billion Pi Coins, Decentralization Dream Shattered!

Pi is facing an unprecedented crisis! According to the latest data, the core team of Pi holds the majority of the Pi coin (PI) supply, with a concentration of up to 82.8 billion PI, accounting for approximately 83% of the total supply. This concentrated control has raised serious concerns about the future decentralization of the project.

Panic Over Core Team's Control of Pi Coins

The core team of Pi currently controls about 62.8 billion Pi coins through six wallets, with another approximately 20 billion PI existing in unlisted wallets. Overall, these controllers hold over 82.8 billion PI, giving them unprecedented influence and control over Pi. This extreme concentration of control raises doubts about whether the project can achieve true decentralization.

Insufficient Number of Nodes and Validators

Worse still, there are only 43 nodes and 3 validators globally for Pi, far fewer than other blockchains like Bitcoin and Ethereum. For example, Bitcoin has over 21,000 nodes, while Ethereum has over 6,600 nodes. The lack of nodes and validators for Pi means that network control is almost entirely concentrated in the hands of a few.

Privacy Issues Escalate: AI Involvement in KYC

Even more concerning, Pi Network recently announced it would use artificial intelligence (AI) — ChatGPT to conduct the “Know Your Customer” (KYC) process. This change has raised serious concerns among users about data privacy and the methods of sharing. Introducing AI to handle user verification increases opacity and risk.

Dramatic Decline in Popularity, Loss of User Confidence

Since the launch of the Pi mainnet, the project's popularity has plummeted. According to Google Trends data, the search interest for Pi has dropped from 100 at the launch of the mainnet to just 12 now, reflecting a sharp decline in public interest in the project.

Pi's centralization issues, changes in privacy policies, and technical difficulties have led to a significant loss of confidence among investors and users, making the future prospects of the project even more uncertain.