$0.16
1H
-0.81%$0.0013
24H
1.07%$0.0017
7D
-21.9%$0.0455
30D
28.7%$0.0362
Civic (CVC) is a decentralized identity ecosystem, allowing the request to verify the identity of the user safe and cost-effective way, which became possible thanks to the blockchain technology. Using the digital identification platform, the user can create his / her own virtual identity and store it together with personal information on the device. CVC is an Ethereum-based token that is used by service providers to obtain information about the user. Therefore, organizations use the CVC token as a means of payment. The system of smart contracts further provides for the transfer of funds from service providers to validators and owners of individuals (users). Civic CVC tokens will be used to perform transactions in services associated with IDV. CVC paid by the transaction is distributed to the validator and the user as a reward for sharing information. The more use for CVC, the more valuable the tokens are.
The partnership between COTI and Civic will enhance web3 data protection and confidentiality via the COTI V2’s, Ethereum-based layer two network.
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Acknowledging that the guidance is necessary for protecting customers in the US, Coinbase added that the company hopes to help the commission achieve the goal.
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