"Civic is building an ecosystem that is designed to facilitate on-demand, secure and low-cost access to identity verification (“IDV”) services via the blockchain, such that background and personal information verification checks will no longer need to be undertaken from the ground up every time. Civic also intends to introduce a Civic token, or CVC, that participants in the ecosystem will use to transact in IDV-related services. Civic hopes this ecosystem can reduce the overall costs of IDV, remove inefficiencies, enhance security and privacy, greatly improve user experience and disrupt the current IDV supply chain."
What we don't like:
A messy token allocation during the ICO caused some investors to have uncertainty and worry during Civic's initial stages. More recently, the American government stated that they wish to do away with the current social security system. This implies that they would like to upgrade to a more updated solution, possibly via the blockchain. Some investors also displayed concerns about Lingham only making comments about the American government's desires, but no real initiative, to have Civic step in as the solution. The potential partnerships are still unclear, and there is uncertainty amongst speculators within the Civic community.
What we like:
Civic has the ability to capitalize on a monopoly in the Identity verification space. Currently, there are no public tokenized solutions on the blockchain for identity verification. Vinny Lingham has a real-world track record in delivering a product that can scale, with his experience in Gyft, which was sold to First Data. We have confidence in his ability to scale Civic into a trusted choice for service providers to use for identity verification in order to save time and money. Civic coins/tokens are required by service providers to access users' Civic information. Therefore, the Civic token is used as a fuel that runs the network. If the platform gets adopted, it is plausible to expect corporations to purchase the Civic token in bulk orders to save costs on future appreciation of the token.