Civic (CVC)

Last updated 21/11/2022

Official Website: https://www.civic.com/

What is Civic (CVC)?

The Civic ecosystem uses blockchain to streamline identity verification (IDV) services by confirming user identities and spotting fraud in an easy and less complicated way. Civic has successfully improved the quality of services for current products, such as the Civic Secure Identity Platform (SIP), using blockchain-based solutions. With Civic's new blockchain-based method, the role of third-party auditors can be reduced from the previous requirement that the verification of user background engage third-party services as a necessary step. In fact, the blockchain-based solution ensures that there are no human errors because it does away with the need for many audit agencies to repeatedly communicate sensitive data. Civic wants to make it difficult for fraudulent actions to spread or wants to lessen ecosystem breaches.

The Civic platform has added a number of smart contracts, a utility token called CVC, and several secure software apps to its platform in an effort to improve the client experience. Additionally, the Civic ecosystem permits "Users" and "Validators," two distinct parties, to participate in streamlined identity verification procedures. Institutions called Validators are tasked with confirming the identities of Users, which might be either specific people or connected companies. The confirmed User data on the Civic ecosystem is approved by the Validators. The verification of actual User IDs within the blockchain is made simpler by this procedure. Instead of repeating the validation audit procedure, other external bodies can just go ahead and use the approved data. The Civic ecosystem's Smart Contracts are used to properly validate the User IDs, eliminating the need for repetitive human involvement.

On the Civic ecosystem, the CVC token is used to support transactions involving the platform's services. It is an ERC20 standard token that enables payments for smart contract commands and supports the Civic platform's blockchain by supporting blockchain maintenance. Additionally, CVC tokens are developing a variety of fresh use cases to boost platform productivity.

Team

Vinny Lingham, co-founder and CEO, is a seasoned businessman with over 10 years of expertise in e-commerce. He is a shark on Shark Tank South Africa and a member of the Bitcoin Foundation.

The CTO and co-founder of the project, Jonathan Smith, has more than 15 years of expertise in management, technical analytics, and development for organizations like Deloitte and RBS.

Civic's online and mobile applications are already functional products. And as long as there is a validator to confirm it, you could submit information to the network for attestation if you wanted to do so today. The team changed the name of the Civic Marketplace to Identity in the third quarter of 2018, introduced support for fiat rates, and integrated smart contracts.

It appears that the team's attention has switched away from the Identity market and toward the main Civic service. The release of a Validator Toolkit and the open sourcing of Identity were on the roadmap for the latter quarter of 2018. But it looks like neither of those things has been done yet.

The group intends to develop Requester and Credential Wallet Toolkits in 2019. Additionally, they intend to completely debut Identity sometime in the second quarter.

Roadmap

Plans to allow requesters and validators to stake, and corporate users may eventually be required to do the same were first mentioned in this document on May 5, 2018, but they were then reported to have been postponed until Q1 2020 in an update on August 8, 2019.
Cvc could be utilized to obtain some discounts. Once more, speculation
will introduce their wallet alongside BitGo in the autumn of 2019. "Since announcing our Civic Wallet pre-registration list, we've been steadily growing an impressive 100,000-person queue," the statement continued.

Updated their roadmap on 09.08.2019:

"Generally speaking, you’ll notice that over the first half of 2019, we’ve made room for more updates with endpoint implementations like Civic, in order to prove the first use cases for the toolkits we have provisioned for Identity.com. This shift in priorities meant we had to postpone publishing the Validation Module code for the Identity Validator Toolkit and the Credential Wallet Toolkit code to Q3 of 2019."
"Civic is acting as the backup for identity validators within the marketplace, and we are opening this functionality to other identity validators so that they may offer their validation directly to Requesters in a B2B solution. This has been moved to Q4 2019 because the need for backup is currently being met by Civic."
Intends to use IPFS for data hosting that is decentralized. Q1 2020 is anticipated.

Where to Store Civic (CVC)

A trusted wallet provider for your Civic (CVC) token could be Trust Wallet – a multi-currency mobile wallet that enables users to simultaneously store a variety of digital assets in one place.

On the other hand, if you are looking for a safe offline storage solution, we recommend the leading hardware wallet provider Ledger.

Similarly, a user-friendly option to keep your $CVC secure can include MetaMask, a leading browser wallet extension popular amongst DeFi platforms and highly praised by developers. Users can integrate with the network’s Liquidity Mining pools by connecting your MetaMask wallet.

Where to Buy and Sell Civic (CVC)

You can Buy & Sell Civic (CVC) here at BC Bitcoin.

You can Buy Civic (CVC) by heading over to the Buy Coins page of our website. Civic (CVC) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Civic has never been easier, simply place your order and provide your wallet address. Once your payment arrives, Civic (CVC) will be sent directly to your wallet.

If you choose to Sell Civic (CVC), you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins page.

Civic (CVC) Resources

Website: https://www.civic.com/

Block Explorer: https://etherscan.io/

Github: https://github.com/civicteam

Twitter: https://twitter.com/civickey

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.