Designed to facilitate on-demand, secure and low cost access to identification verification via blockchain. Example, if you go on a flight to travel, you have to pass your passport at least 3 times for verification. 1st to the check-in counter for printing of boarding pass, 2nd to the customs at departure counter, 3rd to the customs at arrival hall. If the counterparties are using civic platform; the traveller can with a click send the information to the required parties through blockchain.
Advantages of doing KYC on blockchain
1.Low costs: high cost of doing KYC especially for financial instiutions. Companies are paying high fees to verify an individual who was already verified just hours ago by the same provider but for a different company.
2.Immutability and irreversible: Records especially on paper are mutable and the information can be altered if not handled properly
3.Transparent: Consumers have controlling right on who they want to send their data to; and it become transparent who have the consumers’ data
4. Security: When central system are hacked; these important information can be used by criminals for unwanted means
5.Privacy through Pseudonymity: Important information is encrypted through cryptography and unintended parties would not have access to the information.
Current Development of Civic Platform
1.Actual working platform and app is in beta stage. Up and running.
2.Engagement has increased (wikihow, workpress (from sep),
3.Listed on Bter which allow CNY/CVC trading
4.Prices has jumped 5 times from launch.
1.There are not many icos which used blockchain to solve actual issues that inconvenience our life and civic is one of those rare projects that actually does that to make our identity more secure.
2.It’s a worthwhile project in the long term and the good thing is we see continued and increased engagement of civic platform with external parties post ico.
3.Prices has rose 5 times from launch and current price is quite expensive but in view of future expectations from increased engagement of civic project, development from beta phase to launch phase, and what the civic platform aims to achieve; we recommend holding this coin if you are a long term investor.
4.Short term support at 0.00105 BTC, resistance at 0.00012 BTC once it pass the day and close at 0.00012 expect a rise to 0.000135 BTC.