Civic Coin Review: Introduction to CVC
What Is Civic?
Civic intends on implementing its Identity Verification Services (IDV) using blockchain, so that background and personal information verifications will not be required each time a new institution asks for one.
How Civic Works
Civic’s network was designed to be used by three different participants: users, validators, and service providers. The users represent anyone interested in using the protocol to register an identity, which can be done via the Secure Identity app of CIVIC.
Validators are the entities which verify the authenticity of a provided identity which has been recorded on the blockchain. They are able to sell this data to service providers who need to check their customer’s identities, and for this they receive CVC.
Service providers represent businesses or institutions (such as banks or exchanges) that register with the Civic App to increase the efficiency of their customer verification process.
The CIVIC Team
The team which founded CIVIC is comprised of highly experienced members which have been working in leadership and entrepreneurship for decades.
Vinny Lingham, the co-founder and CEO of Civic, is a known internet entrepreneur and TV host. He currently serves as a board member of The Bitcoin Foundation.
Other important founding figures are:
- Matt Roszak – Bloq Co-founder and Chairman
- Anthony Di Iorio – Jaxx CEO & Founder and Ethereum Decentral & Founder
- Jeff Garzik – Bloq Co-founder and CEO
CIVIC’s ICO campaign was finalized in June 2017, successfully managing to raise nearly $33 million in funds stored in BTC and ETH. The tokens sold out fast, having almost 40,000 investors, with very few “whales” due to an efficient token distribution structure.
The project attracted the support of the crypto community by having a product launched, and afterward being very active on Telegram group chats and having frequent blog post entries on site such as Medium.com.
The token officially entered the markets on July 2017, being priced at $0.16. The token had two highs: the first one on August 11th at $0.64, and on January 3rd at $1.37.
CVC has a total fixed supply of 1 billion tokens, out of which one third was used in the initial coin offering (ICO), and another third being kept by Civic. The remaining third is reserved for circulation to encourage users to engage in activities on the blockchain.
The token is currently traded at $0.056423 USD, with a market cap of $17,082,454 USD, which places it in 149th position.
Where Can I Buy CVC?
To be able to buy CVC tokens, you must first purchase Bitcoin and Ethereum tokens, as there are ‘n’ current fiat options for buying CVC tokens.
The token is listed on the following exchanges: Binance, Coinbase Pro, Livecoin, Poloniex, KuCoin, Bittrex, Huobi, KuCoin, Gate.io, AEX, BigONE, Radar Relay, Upbit, Liqui, Mercatox, OKEx, HitBTC, Huobi, IDEX, GOPAX, Coindirect, COSS, EtherDelta, ChaoEX, Cobinhood and a few other small platforms.
Where to Store CVC
With Civic aims to provide a reusable KYC and personal identity information in order to streamline identity verification for service providers, saving time and effort for users when recommitting the same information. At the same time, this sort of project deals with identity use and sharing, a very delicate subject, and may not sit so well with people keen on keeping their identities private.