Civic CVC

$0.1310
Market Cap $ 44.882 MM (#118)
24h Volume $ 2.128 MM
Chg. 24h: -1.60%
Algo. score 3.8/5  (#82)
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Civic project purpose and description

Civic clarity of purpose

Civic purpose and aspects

Giving businesses and individuals the tools to control and protect identities, Secure & Protect Identities, Identity Platform, Identity data fully encrypted in the app on the user’s device and can be accessible with biometrics, Public identifier for the authenticating authority, hashed identity data, and a flag indicating the data is still valid, Identity Theft Protection

Civic additional differentiation against competition

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Short description

Civic is an identity management service that allows you to protect and authorize the use of your identity in real time. We also offer additional features to help protect your identity such as credit report alerting, identity fraud coverage, and access to 24/7 fraud support.

Abstract

The ability to store and share information digitally offers so many benefits that the digitization of data has become a consistent and growing trend. However, alongside the advantages of cost and convenience, a new set ofconcems has developed. The ability to copy and share data has raised questions about the security of personal data. There have been countless high-profile hacks and leaks of personal information, as well as cases where unencrypted data has simply been lost or left vulnerable to theft. Some services have been slow adopters of digital record-keeping, especially where data is particularly sensitive, such as in the government and healthcare sectors. The security risk in these sectors is higher, and the consequences potentially more severe, both for the individuals whose data is lost and for the organizations who have to deal with the legal and reputational implications. Civic is building an ecosystem that is designed to facilitate on-demand, secure and low-cost access to identity verification ("IDV") services via the blockchain, such that background and personal information verification checks will no longer need to be undertaken from the ground up every time. Civic also intends to introduce a Civic token, or CVC, that participants in the ecosystem will use to transact in IDV-related services. Civic hopes this ecosystem can reduce the overall costs of IDV, remove inefficiencies, enhance security and privacy, greatly improve user experience and disrupt the current IDV supply chain.

Link to Roadmap: https://www.civic.com/company/roadmap/
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