Did you know in 2016, there were roughly 1.1Bn identities stolen across the globe? From that 1.1Bn, roughly 15.4Mn were from the United States alone. Identity theft is a growing problem for everyone and having a secure method to manage your identity is becoming more important than ever before. Enter Civic, the secure, fully decentralized Identity Platform.
The bottom line is that Americans are not in control of when and where their personal information is being used and we plan to change that. - Forbes
What is Civic?
Launched in July 2016, Civic is a digital identity platform aiming to provide individuals and businesses the ability to securely store and protect their personal information. The planned ecosystem also aims to reduce the cost and inefficiencies of traditional verification processes, such as KYC & AML.
Source: Civic IOS Application Screenshot from Civic.com
How Does the Application Work for the Consumer?
Presently, the IDV (Identity Verification) industry requires each institution to obtain and store personally identifying information ( PII ) which creates a high-security risk. With the app, a user’s PII is securely stored on their device using high-level encryption methods and biometrics (such as fingerprint ID). This allows the user to retain full control over their personal information and significantly reduce the risks of being hacked or misused. Watch the video below to understand how the application can help Janice book a flight and get through IDV processes as quickly as possible.
Who is utilizing the platform today?
You can download the application and test it out on any of these websites/services. Most recently, the 0x Project launched their ICO and required members to register using the app and QR Code system.
- WikiHow
- Project Ox
- StockTwits
- BnktotheFuture.com
- TokenMarket
As of August 15, 2017, the current price of 1 CVC token is $0.58 USD – way undervalued for the problem it’s solving. Civic is already a trusted name in the IDV space and with their new ecosystem platform utilizing blockchain & smart contracts, they could possibly be one of the biggest players in the IDV industry.
To learn more about the ecosystem, you can Read the full Whitepaper here.
Resources:
- iOS Application Download: https://itunes.apple.com/us/app/civic-secure-identity/id1141956958?ls=1&mt=8
- Android Application Download: https://play.google.com/store/apps/details?id=com.civic.sip
You may also like to read:
Ripple Payment Protocol – Overview
Full Article Can Be Found Here: https://cryptocanucks.com/civic-disrupting-identity-verification
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