Civic – Identity Theft Protection
Civic, the ongoing ICO is one of the most looked after Inital Coin Offerin this year. Lead by Vinny Lingham, the Bitcoin Pundit, Civic has a lot of potential in the identity securing area via Blockchain technology.
So let’s discuss CIVIC ICO in detail
What is Civic?
Civic is a platform which is designed to facilitate on-demand, secure and low-cost access to Identity Verification (IDV) services via the Blockchain technology.
It is designed in such a way that background and personal information verification checks will no longer need to be undertaken from the ground up every time.
For Example: The personal information required to be filled in a job application resume is one of the most important information for the company. Each time a prospective applicant applies for the job, the organization need personal information for a background check.
Also, that applicant needs to submit the information to other organizations as well if he is applying in more than one organization.
Now here comes Civic, where let suppose the information is already stored. Each time the organization required the information, it can look into the platform for the information.
Watch this video for better understanding.
1) Solving a real concern via a decentralized platform
– NO need of sending the same information over and over again to different organizations.?
– If you are in the cryptocurrency game, you know about the hassle that you need to go through verifying your account in every single exchanges. Not to mention that the time it takes for each company to verify and approve the documents that you sent.
– If Civic becomes successful, it is going to dramatically cut down the time and cost associated with verifying users’ identity.
2) Civic already has a product
Inlike other ICO’s , Civic is already live in the market. Thehe platform is still in an early stage. Civic has a mobile app called Civic Secure Identity. The mobile application is available both in Android and IOS
3) Strong team
->Vinny Lingham, being the face of the organisation is lending a lot of credibility to the project. Vinny Lingham is a serial entrepreneur who previously founded the digital gift card platform, Gyft, which was acquired by First Data Corporation in 2014. After over a decade of experience in e-commerce, he realized that no one had a universal solution to tackle identity fraud for consumers.
->Jonathan Smith, CTO has more than 15 years of experience in banking and technology advisory. After a successful career in some of the most complex and security sensitive environments, Jonathan brings his talent for technology leadership, innovation and delivery to the world of digital identity
4) The ICO structure levels the playing field and ensures smaller participants can get in.
5) There is a network effect for this project – the more users the token has, the more valuable they are.
How information is submitted?
Civic has launched it’s online mobile application, Civic Secure Identity Platform both on Android and IOS. A user can submit the information via the Civic app.
How will the token holders make money?
The Civic tokens (CVC) will be used to transact in Identity Verification -related services. The CVC paid in a transaction is distributed to the validator and the user as a reward for sharing information. The more usage for CVC, the more valuable the tokens should be.
- Token ticker: CVC
- Hard cap: $33 million (33% of total token supply)
- Total token supply: 1 billion
- Maximum market cap at ICO: $100 million
- ERC20 token: Yes
- Timeline: June 21 to 28, 2017
Visit the company’s website for participation and further details.
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