After civics little pump today I thought I would elaborate on why I am optimistic about Civic secure ID going into 2018.
Civic gives businesses & individuals the tools to control and protect identities. Civic brings your identity to the blockchain. Imagine having your ID, passport, credit score, and passwords all in one place. It will never be a hassle when you need to prove something, relating to your identity. Almost 1.1 billion identities were stolen in 2016, so Civic wants to become a hacker-proof form of identity, and this is clearly valuable with the current situation.
Founded in 2015, and ICO’ed in 2017, Civic is the brainchild of Vinny Lingham, who is an extremely talented serial entrepreneur, and has been dubbed the ‘Bitcoin Oralce’. This project is obviously heavily based on widespread adoption, so having Vinny as CEO is a brilliant aspect, since he is very respected and has good connections all over the world.
Civic is already live on a few big websites. You can see it on Wikihow, which has around 200 million visitors per month. Civic is on a few big exchanges and has yet to hit the infamous Korean market. They have mobile apps on each operating system, and have recently released a WordPress plugin, which allows any website to integrate Civic’s secure ID. This means that their current system is robust enough to be implemented on many websites, which makes the system scalable.
Civic has just released the ability to do ID and age verification, so it is very possible that adoption could be huge. ID verification is never a easy process, so having a company like civic securely doing verifications could be a game changer.
The bigger picture is a marketplace which companies can use CVC tokens to pay for users personal details and histories. This is a huge industry, and companies spend millions on Know your Customer (KYC) processes.
Announced on Telegram only, the Civic marketplace Alpha is already functional, which means that they are ahead of their roadmap schedule. If all goes to plan, we will see Civic release their marketplace in the middle of 2018, and then things should take off.
Please remember that this is not financial advice, and is only my opinion 🙂
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