Civic project
The Civic project is a modern digital site, the main function of which is to provide reliable and convenient decentralized identity identification. Flexibility of the platform implies its modification depending on what features the legislation of the country of the user possesses.
Unlike others, Civic allows to control what kind of information will be transferred to a third party in the authentication process. This feature allows to say that the full owner of personal data is only the user, not the platform. And this is good, because recently cases of data transfer to interested persons who are willing to pay well for information useful in advertising campaigns have become more frequent.
The main mission of Civic is the use of blockchain capabilities to create a modern technological project with the functionality for secure identity verification. In 2017, this idea was awarded the “Best Startup” award.
The Civic project has a platform and its own token. Within the ICO, 1 billion coins were issued, the main purpose of which is to ensure the functioning of the payment system for products and services during the identification of personal data. The token itself was created on the basis of the Ethereum, on the ERC-20 protocol.
At the moment the project is focused on the US market, but for the near future a significant “move” is planned. The next state where Civic will work will be South Africa.
Users of the Civic network are divided into three main categories:
-ordinary users;
-validators;
-service providers.
The user is called any participant who uses the platform for identity registration (Secure Identify application is used).
Validators are the participants whose activities are aimed at verifying the identity data in the registry of the blockchain. They also engage in the subsequent transfer of this information to service providers who want to verify the identity of their clients. In the course of this activity, the data is exchanged for the coin of the platform — CVC.
In the course of control of attestation and financial transactions on payment, smart contracts of the Ethereum are used.
Tokens (CVCs) will be used to perform transactions in services associated with IDV. CVC, paid for by the transaction, applies to the validator and the user as a reward for exchanging information. The more use for CVC, the more valuable the tokens are.
The most common areas in which Civic users are identified are:
Financial.
Cryptocurrency.
Medical.
Social.
Thanks to the development of Civic, the constant use of personal data for the passage of verification procedures will be greatly simplified. If the project succeeds, service providers from around the globe will get rid of the need to constantly check the documentation and data (the validator will do everything for them).
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