Civic Coin: A Blockchain-Based Solution for Identity Management and Protection

Civic Coin: A Blockchain-Based Solution for Identity Management and Protection

Civic Coin (CVC) is the native token of Civic, a blockchain-based platform that provides individuals and businesses with the tools to control and protect their personal identity information. Civic aims to change the way we think about identity verification by giving users more power over their data, while enabling them to access various services without compromising their privacy. Civic’s identity verification system uses distributed ledger technology to authorize identity usage in real time, and allows users to share only the necessary information with Civic partners after their consent. Civic users store all their sensitive data on their mobile devices, and can authorize the data sharing by providing a biometric signature through the Civic app. CVC is used to facilitate the identity-related transactions between Civic participants, such as between a customer and a service provider. Users can earn CVC tokens for completing tasks, such as signing up for a service or referring new users, while validators can earn CVCs for verifying documents for service providers. Civic was launched in 2018, following a successful initial coin offering (ICO) in 2017. In this post, we will explore the coin’s introduction and features, market analysis and trends, project updates, investment analysis and recommendations, and outlook and community response.

Coin Introduction and Features

Civic Coin was created in 2017 as part of the Civic project, which was founded in 2015 by Vinny Lingham and Jonathan Smith. Lingham is a serial entrepreneur who appeared on Shark Tank South Africa, and co-founded several ventures, such as Newtown Partners and Gyft. Smith is the CTO of Civic, and has over 15 years of experience in the banking industry. The Civic team consists of 38 employees, mostly based in the San Francisco Bay Area1.

CVC is an ERC-20 token that runs on the Ethereum blockchain and has a circulating supply of 800 million CVC and a total supply of 1 billion CVC. There is no maximum supply for CVC. The fully diluted market cap of CVC is about $128 million as of April 20242.

CVC is a utility token that powers the Civic ecosystem and enables users to access and enhance the decentralized services on the platform. Some of the main features of CVC are:

• Identity verification: Users can verify their identity with service providers using CVC. This allows them to access various services, such as financial, e-commerce, health, travel, and gaming, without revealing excessive personal information. Users can also choose which data to share and with whom, and revoke the access at any time.
• Identity protection: Users can protect their identity from fraud and theft using CVC. Civic monitors the dark web and alerts users if their data is compromised or misused. Users can also lock their identity with a biometric signature and prevent unauthorized access.
• Identity marketplace: Users can monetize their identity data using CVC. Civic connects users with service providers who need identity verification, and rewards users for sharing their data. Users can also earn CVCs for introducing new users and service providers to the platform.
• Identity network: Users can join the identity network using CVC. Civic creates a network of trusted and verified identities, where users can interact and transact with each other. Users can also participate in the network governance and influence the future development of the platform.

Market Analysis and Trends

CVC has experienced significant price volatility since its launch, reaching an all-time high of $1.66 on December 25, 2017 and an all-time low of $0.012 on March 13, 20202. As of April 2024, CVC is trading at around $0.16, with a 24-hour volume of $21 million and a market cap of $128 million2.

CVC has shown a positive trend in the past year, increasing by over 1,200% from its low point in March 2020. Some of the factors that may have contributed to this growth are:

• The rising demand and awareness for decentralized identity management and protection solutions, especially in the wake of data breaches, hacks, and privacy violations on centralized platforms.
• The continuous development and improvement of the Civic project, which has released several updates and features, such as the Civic Wallet, the Civic Pay, and the Civic Pass.
• The growing adoption and integration of CVC by various partners and platforms, such as BitGo, Coinbase, ShapeShift, and Unstoppable Domains.
• The active and engaged community of CVC users and supporters, who use and promote the platform and its services, as well as provide feedback and suggestions.

Project Updates

Civic is a dynamic and evolving project that constantly releases new updates and announcements for its users and supporters. Some of the recent and upcoming updates are:

• Civic Wallet: This is the flagship product of Civic, which was launched in September 2020. It is a non-custodial, multi-currency, and identity-verified wallet that allows users to store, send, and receive crypto assets, as well as access various services that require identity verification. It also offers a $1 million protection guarantee for crypto holdings, and supports over 100 cryptocurrencies, including CVC3.
• Civic Pay: This is a payment solution that integrates with the Civic Wallet, and enables users to pay for goods and services using crypto or fiat currencies, while verifying their identity with the merchants. It also allows merchants to accept payments without the need for intermediaries, chargebacks, or fraud risks.
• Civic Pass: This is a health verification solution that leverages the Civic Wallet, and allows users to prove their health status, such as COVID-19 test results or vaccination records, with service providers, such as airlines, hotels, or venues. It also ensures the privacy and security of the users’ health data, and complies with the relevant regulations and standards.

Analysis and Recommendations for Investments

CVC is a promising and innovative token that offers various benefits and opportunities for investors. Some of the reasons why we recommend CVC to investors are:

• CVC is the gateway to the Civic platform, which is a leading solution for decentralized identity management and protection. It has a large and growing user base, as well as a diverse and vibrant ecosystem of services and partners. It also has a strong and committed team of developers and contributors, who constantly improve and expand the platform and its services.
• CVC is a utility token that has multiple use cases and functions on the platform. It enables users to verify and protect their identity, access and enhance the decentralized services, monetize and share their data, and join and govern the identity network. It also creates a positive feedback loop, where the more users and activity on the platform, the more demand and value for CVC.
• CVC is a potential token that has room for growth and appreciation. It has a relatively low market cap and price compared to other similar tokens and platforms, which indicates that it is undervalued and has a lot of upside potential. It also has a positive trend and momentum, driven by the rising demand and awareness for decentralized identity management and protection solutions, as well as the continuous development and improvement of the Civic project.

Outlook and Community Response

CVC has a bright and optimistic outlook, as it is backed by a solid and innovative project that aims to make identity management and protection more open, secure, and accessible. It has a clear and ambitious vision, mission, and roadmap, which outline the goals and milestones of the platform and its services. It also has a loyal and enthusiastic community, which supports and engages with the platform and its features.

The community response to CVC and the Civic platform has been generally positive and supportive, as evidenced by the following indicators:

• The social media presence and activity of CVC and the Civic platform, which include over 120,000 followers on Twitter, over 10,000 members on Telegram, and over 6,000 subscribers on Reddit. The social media platforms are also used to share news, updates, and feedback, as well as to interact with the users and supporters.
• The user reviews and ratings of CVC and the Civic platform, which are mostly favorable and complimentary. For example, the Civic Wallet has an average rating of 4.4 out of 5 stars on Google Play, and 4.7 out of 5 stars on App Store, based on hundreds of reviews. The users praise the wallet for its features, functionality, and design, as well as its identity verification, protection, and payment services.
• The media coverage and recognition of CVC and the Civic platform, which are mostly positive and respectful. For example, CVC and the Civic platform have been featured and mentioned by various reputable and influential media outlets and platforms, such as Forbes, CoinDesk, Cointelegraph, and Decrypt. The media outlets and platforms highlight the achievements, innovations, and potentials of CVC and the Civic platform, as well as the challenges and opportunities they face.