Civic

What is Civil (CVC)?

CVC is native token of the Civic platformwhich identity management tool provider based Ethereum and Solana. If you’re interested in the current CVC price, check out the Civic price chart above.

Civic uses distributed ledger technology to approve identity usage in real time. Service providers use a verification system based on artificial intelligence technology, which allows users check their digital identity, while at the same time having full control over their personal data. Additionally, to avoid fraud and ensure compliance with OFAC and AML standards, service providers combine an AI verification system with human assessment.

To use the Civic, users must download the mobile app. The application is the place where all personal information about the user is stored. Whenever users need to share certain information about themselves, they need to authorize it into the application using a biometric signature.

In general, the civil system consists of three entities: users, requestingAnd validators. Users are those who must prove certain elements of their identity to requesters, that is, organizations that are interested in obtaining specific information about users. Validators are those who confirm that the information provided by users to requesting parties is valid.

Moreover, Civic also provides users with other features such as Health Key app And Civil crypto wallet. Employers can securely check an employee’s health status using the Health Key app without compromising their privacy. Civic Wallet is a Mobile Cryptocurrency walletwhich, like any other crypto wallet, allows users to store and manage their crypto assets.

Founders of Civic

Jonathan Smith And Vinnie Linham founded Civic in 2015. The CVC token sale took place in June 2017 and officially launched a month later. At the time, the Civic was priced at $0.17. It began to grow rapidly in late 2017 and early 2018, peaking at $1.55 in December 2017.

However, the asset then suffered due to a decline in the broader cryptocurrency market and growing bearish sentiment. Despite high volatility and growth in the first six months in the market, the price of CVC fell again in the range of $0.10–$0.20 in July 2018. Over the years, Civic has shown a tendency to follow the general trends of the cryptocurrency market.

Jonathan Smith is a banking pioneer. Prior to founding Civic, Smith worked for companies including HSH Nordbank, Deloitte MCS Limited and Genpact Headstrong Capital Markets.

Vinnie Lingham is an entrepreneur. He co-founded a number of well-known companies. These companies include digital card network Gyft and South African investment fund Newtown Partners.

Purpose of CVC tokens

CVC is ERK-20 token. In the Civic ecosystem, users and requesters use CVC as a payment verification tool. Requesters pay users in CVC, and the Civic team is rewarded for bringing parties together.

In addition, CVC tokens are used for reward users for completing certain tasks, such as inviting your friends to use the Civic. In addition, CVC tokens are used for reward validators for their services.

Like most crypto assets, Civic coins can be traded for other assets on various exchanges. The price of CVC is subject to change, so keep this in mind if you are thinking about purchasing Civic tokens. This is because the volatility of the overall cryptocurrency market affects Civic in the same way as other digital asset prices.

CVC tokenomics

CVC tokens have a maximum supply of 1 billion. Thus, Civic tokens are deflationary since their supply cannot exceed this number. As available supply decreases over time, the Civic’s price is expected to rise accordingly.

At launch, the Civic cryptocurrency supply was split into four parts, each equal to 33% of the total supply, and the fourth part representing 1%. Three main parts were devoted to the sale of tokens, rewards and the company itself. The remaining 1% covered the costs of selling tokens.

Hence, if you are interested in the current price of CVC or want to study its historical data, you can take a look at the Civic price chart above.