Civic is a blockchain-based identity management solution that provides individuals and businesses with the tools necessary to control and safeguard personal identity information. This platform is developed to transform the perspective on identity verification by offering users enhanced control over their personal data, while enabling access to a variety of services without the need to surrender excessive amounts of personal information. Civic's identity verification solution employs distributed ledger technology to authorize identity usage in real-time, facilitating selective information sharing with Civic partners upon user authorization. In contrast to some other identity management services, Civic allows users to store all sensitive data on their mobile devices. Users can authorize specific personal data sharing by providing a biometric signature through the Civic app. The Civic ecosystem is powered by a unique utility token known as the Civic token (CVC), which facilitates the settlement of identity-related transactions between Civic participants, such as those occurring between a customer and a service provider. Users can earn CVC tokens by completing a variety of tasks, such as registering for a service through the platform or bringing in new users, while validators can earn CVCs by validating documents for service providers. Civic was launched in 2018, following a successful initial coin offering (ICO) the previous year.

Civic was co-founded in 2015 by Vinny Lingham and Jonathan Smith. Vinny Lingham is a serial entrepreneur, known for his appearance on Shark Tank South Africa in 2016. He has co-founded several notable firms, including a South African investment fund called Newtown Partners and Gyft, a digital card platform backed by Google Ventures. Lingham serves as the CEO of Civic. Jonathan Smith is the current CTO of the platform, bringing over 15 years of experience in the banking sector. Before his tenure at Civic, Smith held numerous managerial positions at leading firms, including Deloitte MCS Limited and HSH Nordbank. He also served as the global head of Platforms at Genpact Headstrong Capital Markets. The Civic team, in addition to its founders, comprises several highly accomplished individuals. Among them is COO Chris Hart, who possesses two decades of expertise in senior finance, having previously worked as the CFO at Guidebook and Nextag. The official Civic LinkedIn page reveals a current employment roster of 38 individuals, many of whom are located in the San Francisco Bay Area.

Civic is designed to facilitate easy identity verification for users with service providers while empowering them with complete control over their personal data. It enables businesses to streamline user onboarding through its AI-driven verification system, which, when coupled with human oversight, assists businesses in reducing fraud and maintaining compliance with AML regulations and OFAC rules. As of December 2020, Civic offers two primary products: the Civic Wallet and Health Key. The Civic Wallet is a mobile cryptocurrency wallet capable of storing several popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC). The app also functions as a digital identity management solution and includes $1 million in Bitcoin insurance coverage provided by Coincover. Health Key is Civic's latest product. This app enables employers to securely verify the health status of employees, ensuring they are fit to return to the workplace post-COVID-19 infection, whether they test positive for antibodies or have been vaccinated, all without compromising employee privacy.

As of late December 2020, there are precisely 670 million CVC tokens in circulation, accounting for 67% of the total maximum supply of 1 billion CVC. The current circulating supply is available in the right data panel. According to the Civic token sale website, a total of 1 billion CVC were created. Of this amount, 33% were sold during the token sale, 33% are retained by Civic, 33% are earmarked for incentives and rewards, and the remaining 1% was allocated to cover the costs associated with the token sale. As of December 2020, the 330 million tokens reserved for Civic have not been utilized. These tokens are securely held in a multi-signature Ethereum wallet, which can be monitored here.

As an ERC-20 token, CVC is supported by the Ethereum blockchain, which is widely considered one of the most decentralized and secure proof-of-work (POW) networks in operation today. Over time, Ethereum will progressively transition to proof-of-stake (POS) with the deployment of Ethereum 2.0. Once this transition is complete, the CVC token and its related transactions will be secured by a network of validator nodes. Digital identities secured through the Civic app are protected by the user's own device, which customers utilize to manage access to their data.

The CVC token is characterized by high liquidity and is available for trading on numerous exchange platforms such as Binance, Coinbase Pro, and Huobi Global. It is predominantly traded against Tether (USDT), the Korean won (KRW), and Bitcoin (BTC). For a complete list of exchanges, refer to the market pairs section. To gain further insights into purchasing cryptocurrencies like CVC with fiat, consult our comprehensive guide available on Eulerpool.