Civic
Crypto Overview
Project Overview
Civic is a blockchain-based digital identity verification platform launched in 2017. The CVC token serves as a utility token within the Civic ecosystem, primarily used to incentivize identity verification providers and facilitate secure identity verification services.
Intended Utility
The primary purpose of Civic is to provide decentralized identity verification services, allowing users to maintain control of their personal information while providing verified credentials to service providers. The CVC token is used to compensate validators and pay for identity verification services within the network.
Actual Utility and Adoption
Current usage of the Civic platform shows moderate adoption, with several partnerships including with Beer vending machines for age verification, and integration with various blockchain platforms. The project has evolved to include Identity.com, a decentralized identity ecosystem.
Token Distribution and Governance
Initial token distribution allocated 33% to the token sale, 33% to companies and partners, and 33% to Civic for long-term operations. The project maintains transparent development activities with regular updates to their technology stack.
Revenue Model
The platform generates revenue through legitimate service fees for identity verification services, avoiding interest-based mechanisms. The business model is based on practical utility rather than speculative trading.
Development Activity
Regular GitHub commits and platform updates indicate ongoing development. The team continues to expand the ecosystem's functionality and maintain the technology infrastructure.
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.