Civic

Civic (CVC) is a blockchain-based platform designed to provide identity verification solutions. It leverages decentralised technology to allow individuals and businesses to manage and verify personal information securely without the need for intermediaries. Users are assigned Civic tokens (CVC) that facilitate transactions related to identity verification, encouraging efficient and secure data sharing.

The platform incorporates blockchain features to address issues of identity theft, fraud, and inefficiencies in existing identity verification systems. Civic's model focuses on providing a “secure identity ecosystem” that allows users to control their information while offering businesses verified data in a compliant, streamlined way​.

Civic (CVC) is primarily used for identity verification services, allowing individuals to verify their identity with businesses without repeatedly providing the same sensitive information. The Civic app enables users to store and share their verified identity data, which is protected through encryption and stored on the blockchain. The Civic token (CVC) is a utility token used within the ecosystem to incentivise participants and facilitate payments for identity-related transactions.

Businesses benefit from Civic's ecosystem by accessing verified user data, which simplifies regulatory compliance and reduces identity verification costs. Through Civic, users have control over their identity and can selectively share it without exposing their data multiple times, enhancing privacy and reducing the risk of data breaches​.