Civic is a blockchain-based identity management solution that provides individuals and businesses with tools to control and protect personal identity information. By leveraging distributed ledger technology, Civic facilitates secure and efficient identity verification processes.
Civic operates on the Solana blockchain, employing a proof-of-stake consensus mechanism for increased efficiency and scalability. It utilizes advanced cryptography to encrypt and secure personal identity information. Smart contracts are used to automate interactions and transactions within its ecosystem, managing identity verifications, and aligning participant incentives.
Civic enables identity verification across diverse sectors including decentralized finance (DeFi), supply chain management, healthcare, and online services. It addresses the need for secure identity verification, helping reduce fraud and ensuring regulatory compliance. Applications extend to securing and verifying identities in social media platforms, gaming, and governance systems.
Civic was co-founded in 2015 by Vinny Lingham and Jonathan Smith with the vision of simplifying identity verification using blockchain. It launched its token (CVC) through an ICO in 2017, raising significant funds to develop its technology. Over time, Civic has expanded its technological stack and use cases, notably integrating with the Solana blockchain to enhance its capabilities and market presence.