Civic is set to launch its decentralised identity verification ecosystem, dubbed Identity.com.
The company said Identity.com will be a first-of-its-kind decentralized platform that will open up access to on-demand, secure identity verification.
It is designed to connect users, requesters, and validators around the world to enable reusable identity verification, powered by Civic tokens (CVCs). This ecosystem allows individuals, companies, and other entities to interact easily and safely in the digital world according to company.
In March, Civic processed the first CVC-powered Know Your Customer (KYC) transactions, marking the first exchange of CVCs for identity verification services. Roll forward four months and Civic is now preparing to expand access to decentralized identity verification services, with platform set to go live next month.
CEO Vinny Lingham said: “Civic’s long-term vision is a decentralized identity ecosystem that eliminates the costs and inefficiencies of identity verification while improving security and privacy, creating a best-in-class experience for all ecosystem participants. Identity.com is a big step in our journey to provide every person with a digital identity that they can use to interact privately and securely with the world.”
Civic’s mission is to provide everyone with a digital identity that they can use to interact privately and securely with the world.
The company’s products include Secure Identity platform. Through its decentralized architecture with the blockchain and biometrics on the mobile device, Civic’s platform provides multi-factor authentication without a username, password, third-party authenticator, or physical hardware token.
Civic also helps satisfy a company’s KYC (Know Your Customer) requirements with KYC solution. Civic Reusable KYC is the blockchain-based tool for organisations that require more than basic account verification services.
Its global offering enables scanning and verification of documents, such as passports, driver’s licenses, utility bills, and Accredited Investor Checks using the Civic Mobile App. The company also provides ID codes and complete identity protection.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
