Strong Cup of Crypto: CIVIC (CVC)

Civic Secure Identity Platform / Ecosystem

giving businesses & individuals the tools to control and protect identities

In short, it looks like the world from the Spielberg movie ‘Catch Me if You Can‘ is set to rapidly disappear.

This is thanks to the arrival of smartphones where data, documents and selfies can be encrypted and stored to make up your digital identity that only you control. Why should this data ever need to leave your phone in encrypted form? Also, if it stored (encrypted) on the cloud, this also means it won’t matter if your phone is lost – especially if access to your alternative device is also controlled by fingerprint lock etc.

The Civic ecosystem is already up and running. The mobile app is live, simple to use and will allow you to log-in to websites (that offer Civic) with a simple QR code, often without even a username or password.

This is because it uses a direct connection to you (and your info, secured on your app and smartphone) and the ‘requester’ of your identity, ensuring you keep control (and no documents get lost in the post etc!). The verification process is streamlined.

This video explains it well:

Additional data can also be requested by companies etc. These can be added and secured in the app. They are then validated via the blockchain in the form of attestation (which may be revoked).

The CIVIC token (CVC) is currently an Ethereum-based token that plays a role in securing the request and validation process, and reducing costs.

Also, if there was ever a breach of trust, all transactions would be traceable thanks to the blockchain.

Trusted validators earn CVC tokens for this process, which means for those holding CVC, token value may rise with the greater number of validators and institutions using or partnering with Civic.

Development of the ecosystems is progressing with:

Also: idcodes.com to allow anyone to prove who they are online on websites etc. and also who their business relationships are.

See also: development of Civic Connect : allows for app-to-app ID verification.

There are extensive partners already using Civic at sites such as Wikihow, Investfeed and Brave.

Thoughts

It remains a project with real utility, where the blockchain plays an important role but is not simple to understand in depth, particularly the validation process. The answer is that one’s private data remains on one’s smartphone, encrypted and hidden at all times. By streamlining the request process, data is not lost or stored elsewhere.

Ethereum is the global, decentralised blockchain that allows trusted entities all over the world to validate the data between them, placing a valid or revoked attestation on the blockchain.

Note: It’s possible that for older phones (without biometrics/fingerprint) the app won’t be compatible.

Buy CVC on Binance

Civic Blog
Telegram
Reddit discussion
Twitter
Livecoinwatch: CVC

Jan 2019. 

Note: This entry forms part of my personal adventures in crypto-space. Comments, ideas and corrections really appreciated to enhance my site and help me educate/be educated. I may even ask you for your (best) crypto address so I can send a tip in exchange for quality info.

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