Civic: The Blockchain Platform for Identity Management

Civic: The Blockchain Platform for Identity Management

Civic (CVC) is a blockchain platform that aims to provide a secure and decentralized way of verifying and managing digital identities. It allows users to create and control their own identity data, while enabling service providers to verify and request identity information without storing or accessing sensitive personal data. In this post, we will explore the features, trends, updates, analysis, and outlook of Civic and its native token CVC.

Coin Introduction and Features

Civic was founded in 2015 by Vinny Lingham and Jonathan Smith, who are both experienced entrepreneurs and engineers. The white paper for Civic was published in September 2017, and the token sale was launched and completed in June 2017, raising over $33 million in ETH. The mainnet of Civic launched in March 2018, after a successful testnet phase.

Civic’s core technology is an identity verification protocol that uses blockchain and smart contracts to create a network of trusted validators and verifiers. Civic’s protocol allows users to create a digital identity that can be verified by validators, such as government agencies, banks, or utility companies, and then shared with verifiers, such as online platforms, merchants, or employers, with the user’s consent. Civic’s protocol also ensures that the identity data is encrypted and stored on the user’s device, and that the verifiers only receive the necessary information without accessing the user’s private data.

Civic’s native token is CVC, an ERC-20 utility token that powers the Civic network. CVC is used to pay for the fees and services on the network, such as creating an identity, verifying a request, or accessing a service. CVC is also used for staking to run a Civic node, which is a node that participates in the network and earns rewards. CVC holders can also participate in the governance of the network through the Civic DAO, which controls network parameters and upgrades.

Market Analysis and Trends

CVC is currently trading at $0.1281 USD with a 24-hour trading volume of $21,145,542 USD1. It has a circulating supply of 670,000,000 CVC and a total supply of 1,000,000,000 CVC1. It ranks #387 on CoinMarketCap with a market capitalization of $85,847,000 USD1.

CVC has experienced significant price fluctuations in the past year, reaching a high of $0.4899 USD on February 12, 2021 and a low of $0.0129 USD on March 13, 20201. The price movements of CVC are influenced by various factors, such as:

• The demand and supply of identity verification and management services and the adoption of Civic’s platform and products.
• The development and innovation of Civic’s technology and protocol, especially the integration with other platforms and protocols, such as Ethereum, Chainlink, and Uniswap.
• The competition and collaboration with other projects and platforms in the identity and blockchain space, such as SelfKey, uPort, and Sovrin.
• The regulatory and legal environment and the compliance of identity and blockchain services with different jurisdictions and standards.
• The sentiment and behavior of the crypto community and the general public towards identity and blockchain and Civic.

Project Updates

Civic is constantly working on improving its platform and products, as well as engaging with its community and partners. Some of the recent updates and announcements from Civic are:

• Civic Wallet Launch: Civic launched its flagship product, the Civic Wallet, in September 2020, offering users a secure and convenient way to store and manage their digital identities and cryptocurrencies. The Civic Wallet supports over 12 cryptocurrencies, including BTC, ETH, and CVC, and allows users to send and receive crypto with low fees and high security. The Civic Wallet also integrates with Civic’s identity verification protocol, enabling users to verify their identity and access a range of services, such as buying crypto, opening a bank account, or renting a car, with just a few taps.
• Civic x Chainlink: Civic announced the integration with Chainlink, a leading decentralized oracle network, in October 2020, enhancing the security and reliability of Civic’s identity verification protocol. The integration enables Civic to leverage Chainlink’s network of secure and tamper-proof oracles to provide verifiable and up-to-date identity data to service providers, while ensuring the privacy and consent of users. Civic and Chainlink will also collaborate on developing and promoting identity-based solutions and applications for various use cases and industries.
• Civic x Uniswap: Civic announced the launch of CVC on Uniswap, a popular decentralized exchange, in November 2020, increasing the liquidity and accessibility of CVC tokens. The launch also coincided with the release of a new liquidity mining program, which rewards CVC holders for providing liquidity to the CVC/ETH pool on Uniswap. The program aims to incentivize the participation and growth of the Civic community and ecosystem.

Analysis and Recommendations for Investments

Civic is a promising project that aims to provide a blockchain platform for identity management. It offers a unique and innovative solution for verifying and managing digital identities securely and efficiently, using blockchain and smart contracts. Civic enables users to protect their privacy and sovereignty over their own data, while enabling service providers to verify and request identity information without storing or accessing sensitive personal data.

CVC is a valuable token that enables users to access and benefit from Civic’s platform and services. It also represents a stake and a voice in the governance of the network, as well as the potential integration with other platforms and protocols. CVC holders can look forward to the development and innovation of Civic’s technology and protocol, as well as the growth and support of the Civic ecosystem.

Therefore, we recommend CVC as a good investment for long-term holders who believe in the vision and potential of Civic and identity and blockchain services. However, we also advise investors to do their own research and due diligence, as well as to be aware of the risks and uncertainties involved in the crypto market.

Outlook and Community Response

Civic has a positive outlook for the future, as it continues to develop and innovate its platform and products, as well as to expand and engage its community and partners. Civic has a clear roadmap and vision for 2021 and beyond, which includes:

• Civic Identity Verification Protocol Upgrade: Civic plans to upgrade its identity verification protocol to version 2.0 in Q2 2021, which will introduce new features and enhancements, such as support for decentralized identifiers (DIDs), verifiable credentials (VCs), and zero-knowledge proofs (ZKPs). The protocol upgrade will also enable the migration of CVC tokens from ERC-20 to native tokens on the Civic network.
• Civic Wallet Expansion: Civic plans to launch its wallet in more markets and regions, such as Asia, Africa, and Latin America, as well as to offer more wallet features, such as biometric authentication, multi-signature security, and fiat on-ramps and off-ramps. Civic will also collaborate with more partners and institutions in the identity and blockchain industry, such as Visa, Mastercard, PayPal, and Stripe.
• Civic Ecosystem Growth: Civic plans to grow and support its ecosystem of users, developers, and partners, who will use and contribute to Civic’s platform and services. Civic will also foster the development and innovation of identity-based solutions and applications for various use cases and industries, such as finance, healthcare, education, and travel.

Civic has a positive community response, as it has a loyal and active fan base, as well as a strong and reputable team and advisors. Civic has over 100,000 followers on Twitter, over 20,000 members on Telegram, and over 10,000 subscribers on Reddit1. Civic also receives positive feedback and recognition from various media outlets, industry experts, and influencers, such as CoinMarketCap, CoinGecko, and Coinbase.