Pi Network is attracting attention as a new blockchain technology, characterized by the ease with which tokens can be mined using a smartphone app. However, the mainnet is in a closed phase, the progress of KYC (Know Your Customer) procedures, and various value assessments within the community (especially regarding GCV: Global Consensus Value) are actively debated. This article will explain the current trends of Pi Network in an easy-to-understand manner, organizing these points. I believe the GCV debate will be settled with today’s listing.

Current Status of Pi Network: Closed Mainnet and Security

It is reported that Pi Network continues to operate in a closed manner within a limited scope before the mainnet is officially publicly released. This is said to be for careful final adjustments to security and handling incomplete KYC processes.

In reality, given that this project has tens of millions of users, its security system needs to be rigorous. The background behind the development team proceeding with releases in phases is seen as an intention to reduce system load when miners and node operators access simultaneously, and to mitigate the risk of malicious hacker attacks. Regarding this point, specific internal structures and schedule details are unclear, partly because official statements from the Pi core team are limited.

KYC Procedures and Community Questions

In Pi Network, it is expected that only accounts that have passed KYC authentication (identity verification procedures) will be able to officially withdraw assets (or finalize mining rewards). However, there are voices from many users who have not yet completed KYC, or who have been waiting for approval for a long time. Concerns are being raised from the community regarding the transparency of these KYC processes and the delay in progress.

Furthermore, the remaining uncertainties in KYC may affect transactions between users and the distribution of mining rewards. Even if the mainnet is opened, users who have not completed KYC will not be able to withdraw Pi, so there is ongoing debate about whether it will truly grow into a globally usable cryptocurrency.

Background of the GCV (Global Consensus Value) Debate

There is a heated debate in the community about the unique price setting called “GCV: Global Consensus Value”. There are not a few groups that advocate for an extremely high rate of 314,159 dollars per Pi. This is said to be based on the symbolic mathematical constant of Pi Network (π=3.14159…) or an ideal value that has inflated as the community entrusts its dreams.

However, a major point of contention is that there is no official basis to support this GCV yet. If such a high price of 314,159 dollars were to be realized, it could significantly disrupt the existing economic balance, and its feasibility is also unclear from the perspective of ensuring liquidity. The Pi Network development team itself is in a situation where it has not clearly supported or denied GCV, and the lack of official information is fueling further speculation.

Truthfulness of “Internal Information Leaks” by Some Anonymous Accounts

Within the Pi Network community, posts claiming that anonymous accounts such as “Kosaki” have “leaked internal information” sometimes become a topic of discussion. For example, they may include sensational claims such as “Pi Network will be released first in specific countries” or “GCV will be officially recognized when the mainnet is released”.

However, there are almost no official means to verify the truthfulness of this information. It is widely believed that Pi Network still holds many confidential matters under the security system of the core team, and the possibility of external individuals knowing the internal structure is low. Therefore, instead of taking such leaked information at face value, a cautious approach is required, treating it as a “rumor” or “hypothesis”.

Political and Economic Speculation and Pi Network’s Global Nature

There is also speculation in some quarters that Pi Network is influenced by political situations and the economic strategies of major countries. For example, some voices link it to the movements of major powers like the United States and China, or discuss the impact on international relations if Pi were to rapidly grow as a “world currency”. However, officially, no instances of special partnerships with any nation have been disclosed, and no clear evidence has been presented.

As it aims to be a global platform, it will be necessary to collaborate with regulatory authorities in all countries and establish systems that comply with international and regional laws. If Pi were to be treated like fiat currency or CBDC (Central Bank Digital Currency), regulatory decisions by each government would be essential. However, at present, it is unclear how concretely these are progressing.

Future Outlook and Recommendations to the Community

Pi Network is attracting significant attention for its easy smartphone-based mining experience and the large community it has built. On the other hand, information regarding KYC and the mainnet release schedule is limited, and the price debate (including GCV) has not been resolved. Below are the points users should be aware of:

• Checking Official Information: Consciously check reliable sources such as announcements within the official app and the team’s social media.
• Avoid Excessive Expectations for GCV: Community-driven price estimates are aspirational but lack realistic basis, so do not take them at face value.
• Prompt Response to KYC Process: Respond immediately if there are additional announcements from the management and complete identity verification.
• Continued Security Awareness: Exercise caution in managing information for mining apps and wallets, and beware of phishing and scams.
• Be Cautious with Community Information: Pay close attention to “leaks” from anonymous accounts and unverified rumors, and check multiple sources yourself.

Pi Network is still a project with many unknowns, but its unique concept and focus on global usability suggest significant potential. In the future, as concrete progress such as the official mainnet opening, disclosure of business partnerships, and an increase in KYC completion rates become apparent, the evaluation from the community and external parties will likely change significantly.

Summary

The progress of KYC surrounding Pi Network, the closed mainnet continuing for security reasons, and the high expectations and speculation regarding GCV (Global Consensus Value) shed multifaceted light on the project’s future. Precisely because official information is limited, speculation tends to spread easily, and further discussions are expected to unfold within the community.

On the other hand, for each user to grasp accurate information, it is important not only to wait for updates on official channels but also to keep up with the latest technology and overseas cryptocurrency news. To assess Pi Network’s potential as a “global currency”, it will be necessary to also pay close attention to its relationship with economic and legal regulations around the world. We recommend continuing to gather information diligently and observing the project’s progress with a cautious yet positive attitude.