No, we’re not talking about the car.
What Is Civic (CVC)?
Civic is a blockchain that focuses on identity management solutions, which gives businesses and individuals the ability to control and protect their identity data. This allows for a more simplified process when accessing different services, without having to fill out excessive amounts of personal information.
Previously, third-party companies were needed to confirm user backgrounds in a user verification process, but with Civic’s new blockchain-based approach, the involvement of third-party service providers can be minimal. The blockchain approach ensures zero human errors and prevents fraudulent activities from happening.
How Does Civic Work?
Civic relies on distributed ledger technology to authorize the user’s identity in real time and also verify it, while also releasing that personal information only to authorized Civic partners afterwards.
The blockchain involves the “Users” and the “Validators. The Validators are the institutions that verify the Users identity on the Civic ecosystem. This simplified process allows external agencies to use data that has already been validated, instead of going through the validation audit process again.
To enhance the customer experience, the blockchain consists of smart contracts, which uses the CVC token. The token is used to support transactions related to services offered by the platform.
The platform uses the open-source of identity.com to verify credentials.
The History Of Civic
In 2015, Civic Technologies, Inc. was founded by Jonathan Smith and Vinny Lingham. Civic has more than thirty developers, engineers, designers, and other specialists working cooperatively to establish an ecosystem.
In March 2021, Civic announced the integration with Solana blockchain to offer enhanced privacy, ease of use, and regulatory compliance.
Is Civic (CVC) A Good Investment?
Between collaborations and innovations, Civic can continue to grow in users and adoption, making it an attractive incentive to hold the coin for the long run.
As you can see on the graph below, the highest that CVC has ever reached is $1.20 back in January 2018, and now it’s holding below $0.20. CVC is still at its infancy but it is definitely a project you want to keep an eye on, as it could reach another all-time high in the future.
To stay up to date with the current CVC price data, click here.
Should You Buy Civic (CVC)?
Privacy concerns arise whenever personal information is collected, processed, or stored. So a service that can minimize these concerns can help companies & individuals in the long run.
If you have done research on the team, vision, whitepaper and you are satisfied with what Civic has accomplished so far, then potentially it could be a great investment for the long term. Perhaps invest small, and wait for market direction before buying more.
Cryptocurrencies can be risky, so invest wisely and be careful with your hard earned money. As a rule of thumb, never invest money you can’t afford to lose.
The Civic Whitepaper
Civic released a whitepaper which outlines its solution to the problems that they are trying to solve and also some dates of when it will likely be actioned.
If you want to read the Civic whitepaper click on the button below.
How Many Civic (CVC) Coins Are There in Circulation?
The total supply of CVC is 1 billion coins.
How Can You Buy Civic (CVC)?
It’s actually quite easy to buy CVC. All you need to do is follow these four basic steps:
- Create an account on a cryptocurrency exchange that lists CVC. Below we share some of these exchanges.
- Complete the identity verification process. Some exchanges require a scan of an identity document such as a passport or driver’s license.
- Transfer money from your bank account to the crypto exchange. The exchange may accept other payment methods, but bank account transfers typically have the lowest fees.
- Once the money is available in your account with the exchange, select the “buy” option to purchase CVC.
Where Can You Buy Civic (CVC)?
If you would like to purchase some CVC coins, below are a handful of cryptocurrency exchanges which list them.