Civic has announced that it has acquired the domain Identity.com. The decentralized identity verification company, co-founded by South Africa's Vinny Lingham has said that it intends to use Identity.com as the new home for its decentralized blockchain-based identity platform that will open up access to on-demand, secure identity verification.
In October 2017, Civic made headlines by raising over $30 million which at the time was the largest ICO raise of 2017. Currently, CVC tokens have a market capitalization of over $60 million.
"Identity.com will be a first-of-its-kind decentralized platform that will open up access to on-demand, secure identity verification. Identity.com is designed to connect users, requesters, and validators around the world to enable reusable identity verification, powered by Civic tokens (CVCs). This ecosystem allows individuals, companies, and other entities to interact easily and safely in the digital world. With our revolutionary token behavior model design, Identity.com represents a completely new approach to managing a decentralized community. In March, we processed the first CVC-powered Know Your Customer (KYC) transactions, marking the first exchange of CVCs for identity verification services. Now, we are preparing to expand access to decentralized identity verification services," said Lingham.
Vinny Lingham's vision
In a year that has so far seen cryptocurrencies take a big knock, Civic is among a group of very few companies that have not only had their tokens hold their value but also is delivering on its ICO promise of developing a decentralized identity platform. Earlier in 2018 the company announced a partnership with trade.io which will see the cryptocurrency exchange have the ability to provide Civic's identity verification services for the convenience of future users in the trade.io ecosystem.
"Civic’s long-term vision is a decentralized identity ecosystem that eliminates the costs and inefficiencies of identity verification while improving security and privacy, creating a best-in-class experience for all ecosystem participants. Identity.com is a big step in our journey to provide every person with a digital identity that they can use to interact privately and securely with the world," said Lingham.
Civic expects to have Identity.com live during August 2018.