Civic provides blockchain-based a decentralized model on-demand, secure and low-cost access to identity verification (IDV). This removes the need for background and personal information verification checks that are undertaken every time a new institution requires one. in which participants will use the ‘Civic token’ to transact in IDV-related services.
CEO Vinny Langham, founded Gyft, a digital gift card platform, which was acquired by First Data Corporation in 2014, realized that there is no single solution for consumer identity fraud then he decided to found Civic. Civic had a large ICO, with $33 million in token sales. Civic has released its identity verification project and won the Best New Startup award at K(NO)W Identity Conference 2017.
Features that distinguish it from other cryptocurrencies. The Civic protocol is not just about sending money from A to B. It has many features
Civic’s SIP uses verified identities for multi-factor authentication without need of usernames or passwords it can be done using biometrics, such as fingerprints.
Similar to social networking , users can use Civic’s Secure Private Login (SPL) to create new accounts on websites and apps without the need for a username or password. Civic’s Secure Private Sign-up (SPS) will ensure that accounts of new users will be legitimate
Civic provides protection from identity theft through monitoring, identity theft threats, issuing potential identity theft alerts, offering fraud support.
Using the technology, user identities will be verifiable, decentralized, and secure.
'As Civic is adopted by more and more entities because of its features, As its an extremely low risk investment, excellent long-term investment, as well as short-term. civic already has a working identity verification product because of its features it has won Best New Startup award at the K(NO)W Identity Conference 2017.
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