Civic
Crypto Overview
Understanding Intended Utility
Civic (CVC) was created as a decentralized identity verification protocol that aims to give users control over their personal information while providing businesses with reliable identity verification services. The platform uses blockchain technology to allow users to verify their identity without repeatedly sharing sensitive personal documents.
Business Model Evaluation
The business model is fundamentally halal as it provides a legitimate service focused on identity verification and data privacy. The platform operates transparently and doesn't involve any prohibited activities.
Actual Utility Assessment
Civic has demonstrated real-world utility through various partnerships and implementations. The platform has been integrated with several blockchain projects and businesses for identity verification purposes. The development team maintains active engagement with regular updates to the protocol.
Token Distribution and Founder Analysis
The initial token distribution included a public sale of 33% of tokens, with 33% reserved for companies and users in the ecosystem, and 34% for the team and early supporters. The team's tokens were subject to a 3-year vesting period, which has now concluded. The project maintains transparency in its operations and development activities.
Technology and Revenue Model
The protocol generates revenue through legitimate service fees for identity verification services. It doesn't involve interest-based mechanisms or prohibited activities. The technological infrastructure is focused on providing secure, decentralized identity verification services.
Crypto Impact
To assign a comfort level investing in Civic from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Civic.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.