Civic update: CVC Live price, price chart, news and markets

The CVC price update as of now is $0.04673. In the previous 24 hours, its trading volume was $2,592,753, and its value has increased by 0.62%. As of now, CVC's live market cap is $29,823,615, and it is ranked as the #584 on the Coincu. CVC has a circulating supply of 1,000,000,000 and a maximum supply of 1,000,000,000.

Introducing Civic (CVC)

Civic (CVC) is a decentralized platform that offers reliable identity verification and identification services in accordance with global laws and regulations. By leveraging blockchain technology, Civic provides decentralized, secure, and cost-effective identity verification on demand. What sets Civic apart is its commitment to empowering users with full control over the information they share during the authentication process.

Creating an accessible platform for tailored identity verification services is Civic's main goal. By utilizing blockchain technology, Civic ensures that the identity verification process is both secure and cost-effective.

The Problem Civic Solves

Imagine the tedious process of going through identity verification for transactions, ICO projects, or opening a bank account. Often, KYC verification can take days or even weeks, as organizations rely on outdated systems to validate information. This is where Civic steps in to provide a solution.

Civic offers an optimized approach to address this problem. The project allows users to securely share their personally identifiable information with any organization or service. The KYC verification process is cross-checked on the blockchain, eliminating the need for users to repeatedly provide the same data when switching between services.

The Civic Ecosystem

Understanding the Operational Nature

The Civic ecosystem comprises three primary components, each responsible for different functions: Users, Validators, and Requestors.

• Users: These individuals require identity verification when using services offered by Requestors.
• Validators: Companies that gather users' personal identification (PII) and verify their identities.
• Requestors: Service providers that require identity verification of their users.

How Civic Works

The process begins with users providing their personally identifiable information (PII) through the secure Civic Identity application. Validators then verify the user's identity based on their own standards and store the hash of the verified data on the blockchain.

Once the verification is complete, Requestors no longer need to manually verify the user's identity. Instead, they can purchase the verified data from Validators using CVC coins.

Civic is built on the Ethereum blockchain and utilizes smart contracts to oversee data validation and payment processes.