Civic

" Combining a decentralized architecture on a blockchain, with biometrics on a mobile device, Civic is a new way system for personal and enterprise identity management and provides multi-factor authentication without the need for usernames, passwords, third party authenticators, or hardware keys.

Civic’s ecosystem is designed to incentivize participation by trustworthy IDV providers known as “Validators,” who may include financial institutions, government entities, and utility companies, among others. Validators will be able to verify the identity of an individual or business, known as a “Use,” and ‘stamp’ or record this approval on the blockchain in the form of an attestation. 

Parties known as “Service Provider” who are seeking to verify the same information about a given User, and who may include other Validators, would no longer need to independently verify that information and could instead leverage the work already performed by trusted Validators. "  

Civic creates an ecosystem where validators can offer PII (personally identifiable information) data about users for sale using the smart-contracts.  Once a user has authorized PII data to be released to a requesting party, the requesting party will pay the validator in the CVC token a price for the data.  A portion of the price will also be given to the user to incentivize users participation in the ecosystem.

We need to investigate further if Civic has the same property as Sovrin/INDY in that data shared with service-providers within the Sovrin system is not able to be correlated between service providers.

Identity Validation & Monetization

Project Home Page: https://www.civic.com/

Project White Paper: https://tokensale.civic.com/CivicTokenSaleWhitePaper.pdf

Blog of Founder/CEO, Vinny Lingham, very good insights into the larger blockchain/crypto ecosystem: https://vinnylingham.com/

Civic will be launching it's smart-contracts on the RootStock smart-contract platform building on Bitcoin, Interestingly RootStock is also partnering with EtherParty allowing for Ethereum smart contracts to be run on BitCoin, this is an exciting area to keep an eye on.

From the white paper, this shows how the marketplace for data will work...

 

 

 

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