Civic is a blockchain project that aims to simplify identity verification services using blockchain technology. It provides a secure and efficient way for users to verify their identities and share this verified information with service providers without needing constant re-verification.

In return for participating in this process, service providers may reward users and verifiers with CVC tokens. CVC is essential for supporting payments for smart contract commands and maintaining the underlying blockchain that backs up the platform.

The Civic ecosystem is built on blockchain technology, specifically the Ethereum blockchain, and has successfully elevated the quality of services for its existing products, particularly the Civic Secure Identity Platform (SIP). The platform operates through smart contracts and utility tokens, with CVC being the native ERC-20 token used to facilitate transactions related to services offered by the Civic ecosystem.

CVC tokens are rewarded to Validators and Users for sharing reliable information and engaging in various platform activities to incentivize participation and contributions to the Civic ecosystem. Validators receive rewards for providing identity data validation, while Users are rewarded for signing up for services, providing their identity information, or introducing new users to the platform.

Civic (CVC) aims to simplify and enhance identity verification processes using blockchain technology, providing a more secure and efficient decentralized identity (DID) solution for users and service providers. The CVC token is a utility for transactions within the ecosystem and incentivizes participation and contributions from participants.

The Civic ecosystem involves two main parties: Users and Validators. Users are individuals or associated businesses that need their identities verified, while Validators are institutions responsible for verifying the IDs of Users.

Validators approve the verified User data on the Civic ecosystem, simplifying the validation process for real User IDs within the blockchain. Other external agencies can then use the already validated data without the need for repetitive human involvement or sharing confidential data repeatedly.

Once a User's identity is verified and stored on the blockchain, they can securely share this verified information with service providers without repetitive verification processes. This reduces the risk of identity fraud and enhances the efficiency of identity verification.

Civic Technologies, Inc. was founded in 2015 by Jonathan Smith and Vinny Lingham. Vinny Lingham is a well-known entrepreneur who previously founded the digital gift-card platform Gyft, which was acquired by First Data Corp. in 2014. He serves as the Chairman of the board at Civic. Jonathan Smith serves as the company's Chief Technology Officer (CTO).

Civic was officially launched in July 2016 with the public beta release of its app. The app initially alerted users when their social security numbers were being used with one of the company's partners.

The Civic roadmap has been focused on improving identity verification processes, enhancing user experience, and expanding its ecosystem. Over time, the company has introduced various features and upgrades to its platform, including the CVC token, which serves as a utility token to support transactions within the Civic ecosystem.

In March 2021, Civic announced a technology integration with the Solana blockchain to offer improved privacy, ease of use, and regulatory compliance. The integration addressed the high fees and slow transactions experienced on early blockchains like Ethereum.

By leveraging Solana's technology, Civic's wallet was expected to become high-speed and have lower transaction fees, catering to the needs of DeFi products and other application layer technologies in the future.

Here are some reasons why you could consider adding CVC to your crypto portfolio:

Civics Unique Use Cases

Civic offers a decentralized identity verification solution using blockchain technology. Its platform allows users to verify their identities without compromising their personal information. This innovative use case can be attractive to investors, especially in the context of increasing concerns about data privacy and security.

Established Team and Partnerships of Civic

Experienced individuals, including Vinny Lingham, a successful entrepreneur, founded Civic. The company has also formed partnerships with various organizations, such as Johnson Controls, which indicates interest and adoption of its technology.

Growing Adoption and Developments in Civic Ecosystem

Civic's identity verification platform has been gaining traction, and it has expanded its services to various sectors, including building access management and proof-of-health verification during the COVID-19 pandemic. Increasing platform adoption can positively impact the demand for its native cryptocurrency, CVC.

Civic's integration with the Solana blockchain in 2021 aimed to enhance privacy, ease of use, and regulatory compliance. Such technical upgrades can contribute to the utility and value of the CVC token.

Although we cannot provide a precise CVC price prediction over any timeframe, we could recommend the following factors to watch to get a better understanding of volatility in the Civic cryptocurrency:

Level of Adoption of Civics Technology

The adoption and usage of Civic's identity verification platform can directly impact the demand for the CVC token. As more individuals and businesses use the platform for identity verification and other services, the demand for CVC tokens may increase, potentially driving the price upward.

Future Developments in the Civic Platform

Upgrades and improvements to the Civic platform, such as enhanced privacy features or partnerships with other blockchain projects, can positively influence the projects perception and the CVC tokens value.

Macroeconomic and External Factors

Upgrades and improvements to the Civic platform, such as enhanced privacy features or partnerships with other blockchain projects, can positively influence the projects perception and the CVC tokens value.

The CVC token is used within the Civic platform to facilitate various activities related to identity verification and management, such as:

Native Currency in Civic Ecosystem

The primary purpose of the CVC token is to settle transactions within the Civic ecosystem. It acts as a means of payment for identity-related services and activities carried out on the platform. When users need to verify their identity or access certain services, they can use CVC tokens to facilitate these transactions securely and efficiently.

Incentive Token For Civic Users

The CVC token is vital in incentivizing users and service providers to participate in the Civic ecosystem. Users are encouraged to provide their personal data and undergo identity verification processes by earning CVC tokens as rewards. Service providers, in turn, can receive CVC tokens as payment for offering identity-related services.

Trade or HODL Civic Crypto

Trade Civic crypto against other digital assets on the BYDFi Spot Market or hold the token long-term if you believe in the projects future potential. Ensure that you DYOR before making any new trades in the crypto market.

Civic boasts an impressive lineup of partners, including Gitcoin, Polygon, CUBIK, Ocean Explorers, Metaplex, and Realms. It counts TRM Labs as a strategic partner and has been audited by Hacken.

According to official documentation, the total supply of CVC is fixed at 1 billion tokens. Of these, around one-third were sold during Civics ICO in 2017.

The Civic project holds another one-third. The remaining one-third of the CVC token supply is allotted for incentives and rewards.