Cryptopedia - Civic

## What Is Civic (CVC)? Civic is a blockchain-based identity management solution that gives individuals and businesses the tools they need to control and protect personal identity information. The platform is designed to change the way we think about identity verification by giving users more control over their personal data, while allowing them to access a wide range of services without needing to fork over excessive amounts of personal information. Civic's identity verification solution uses distributed ledger technology to authorize identity usage in real time, and is used to sparingly share information with Civic partners after authorization by the user. Unlike some other identity management services, Civic users store all their sensitive data on their mobile device. Users are able to authorize the sharing of specific personal data by providing a biometric signature through the Civic app. The Civic ecosystem is enabled by a unique utility token known as the Civic token (CVC), which is used for the settlement of identity-related transactions between Civic participants — such as between a customer and service provider. Users can earn CVC tokens for completing a variety of tasks, such as signing up for a service through the platform or introducing new users, while validators can earn CVCs for validating documents for service providers. Civic was launched in 2018, following a sell-out initial coin offering (ICO) the year prior.