Civic is an identity management service that allows someone to protect and authorize their identity in real time. In other words, whenever you have to prove that you are who you say you are, you must go through the same verification and documentation process. But thanks to the CIVIC infrastructure, you can use your once verified data to reuse it in places where CIVIC is accepted.
Vinny Lingham is the CEO of Civic (CVC) cryptocurrency project. Vinny is an entrepreneur who previously founded the digital gift voucher platform, Gyft, which was acquired in 2014 by First Data Corporation. After more than a decade of experience in e-commerce, he realized that nobody had an international solution to deal with identity fraud.
The new civic ecosystem will reduce KYC's total costs, eliminate inefficiencies, improve security and privacy, significantly improve the user experience and disrupt the current identity verification supply chain.
The Civic ICO (June 2017) has been a great success. Within a short time Civic managed to raise the target of $ 33 million through the distribution of the CVC tokens. The CVC tokens are based on the Ethereum network. Of the 1 billion CVC tokens, 330 million tokens were sold.