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I don't think PPC will die because of click fraud but I think the different networks will start to talk to each other and exchange "clients info".
What I mean is, they will have a trusted database with good and trustworthy clients. Said clients will never have problems with the big PPC companies and, I suppose, after a while doing PPC, you name will be included in that list.
Now, it may seem a bit stupid, but I'm pretty sure that will happen eventually. That's probably the only way the advertisers and the PPC engines will be safe.
Imagine that you are on that list and you apply for, say, YPN. The manager check you name / date of birth / whatever in the list, it's there, and you get accepted immediately. You're not? It takes a few days (the usual, I don't know what it is) and you may or may not get approved (the usual way).
I hope this all makes sense to you, it does to me.
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