Civic architecture crypto

Even municipal robots will have their identity tracked to ensure they are performing up to code and not deviating from their duties. Civic Value Networks 13Bitcoin, a digital form of currency, both introduced the concept of a blockchain and became its first killer use case. Once the coin is mined, its owner can pass it along by submitting a transaction record to miners for inclusion in the public blockchain.

All of this is done without formal identity using only cryptographic addresses to hold and move funds. By logging transactions across a massive network of pseudonymous peers instead of a central payment processor, anyone with an Internet connection can accept or send the currency without fear of censorship or rent-seeking middlemen.

The global poor and the ultra-elite alike will use these frictionless networks to access international investment opportunities and banking services never afforded to them before. City governments will have their own accounts, known in blockchain parlance as wallets.

Citizens will fund government wallets with transparent tax contributions, authorize spending as a crowd, and carefully audit transaction ledgers to minimize corruption and wasteful spending. Dogecoin, for example, was a bespoke currency that gained success from its playful branding marked by poor language translation and Shiba Inu dogs.

In cities of the future, people will hold their wealth in a great number of tokens, each with their own transaction rules, backing assets, and community connections. Some will be fully fungible to encourage massive investment, while others will be limited to singular uses.

Transactive Grid, Solar Coin, and the Energy Web Foundation are three projects aimed at establishing renewable energy microgrids where neighbors can pay each other for spare electrons without passing through a central energy company.

This technique, known as a payment channel, will enable micro-payments to flow between people with little to no transaction cost. This means Internet user can pay WiFi router owners for access on a per-byte basis. Polluters might pay per carbon emission. Muralists might receive donations per glance from eye-tracked onlookers. With this in mind, a blockchain real estate investment company called FOAM imagines a world where architects can propose new real estate projects like a Kickstarter campaign, then allow investors from anywhere to effortlessly gain an equity stake in their production.

Investors and other stakeholders could then vote on matters related to the project, making each city project an experiment with decision-making built directly into its structure. They will also store bits of computer code called smart contracts to perform complex operations without relying on a single third party to execute them. They are expected to use the same traditional methods of verification such as cross-referencing with public records and other KYC compliant processes that Civics app is supposed to be eliminating.

This means validators will still need to pay the costs of identity authentication, with the hope that they can recoup their losses by earning CVC tokens. This may pose problems down the road for validators looking to profit from verifying user identification. This leads to another issue, where incentives may not be strong enough to prevent malicious validators from leaking users personal information to parties outside of the Civic ecosystem.

Validators by definition must have access to users readable data in order to do their job. This exposes a possible weakness in the system if incentives are not strong enough to keep validators trustworthy. Challenges Marketing to 3 different Users Civic needs: Service providers on board to accept validated identification from users Users to sign up and provide their identification Validators to validate the information users provide in order to sell the attestations to service providers Each group cannot exist without the other 2, and so if Civic struggles to acquire anyone of these groups, the entire ecosystem does not work.

The argument against this point is that the incentive to earn CVC tokens will draw interest and participation from users and validators, then all service providers have to do is sign up. It remains to be seen how far the platform will scale up with tokens as the primary incentive.

Learning Curve Identity is such a sensitive issue for users, making it almost unavoidable that Civic will have to explain to new users how the Blockchain works to secure their privacy and keep their data safe. This could become a hindrance to mass adoption. Image via Fotolia The concept of securing digital identity is highly intriguing, and is also fundamental to what the Blockchain represents — decentralized trust. I believe any token that is solving a real problem, and is doing so by abiding by the basic principles of what a Blockchain is and should be used for is an investment worth considering.

Large companies, who currently spend millions of dollars annually on non reusable ID verification methods, could now be buying as much reusable identity information as they can while the price of a CVC token the currency needed to validate IDs is still cheap. This is what is speculated to be driving demand for the tokens outside of general sentiment around the crypto-currency space. I believe this makes sense simply because entities who are interested in operating within the Civic ecosystem will be far more likely to purchase tokens in large quantities.

The more tokens they acquire, the more customers they can automatically verify, which drastically reduces the cost of KYC compliance. Current services are in USD and for the most part will always remain fixed. This will continue to cost less as CVC becomes more valuable over time. This naturally encourages service providers who are interested in the ecosystem to buy as many CVC tokens as possible so they can have an early advantage over competitors who arrive to the ecosystem late.

This untapped service provider demand for CVC tokens could imply increasing upward price pressure over the next few months. Of course, Civic has to keep to the roadmap in order for these providers to be interested.

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As a seasoned entrepreneur and investor, Jonathan has served as an advisor to numerous blockchain projects. Prior to co-founding Civic, Jonathan led technology, innovation and delivery in some of the most complex and security-sensitive environments for some of the biggest names in investment banking. He previously served as head of Product Design at The Climate Corporation, overseeing product experience and user research, VP of Product at LifeLock, where he oversaw consumer products, new member acquisition, and new product development.

JP also served as Senior Product Manager for Yahoo where he led global redesign and optimized monetization and search experience. He also joined the leading crypto investment fund, Multicoin Capital, as a General Partner in Previously, he was the co-founder and CEO of Gyft, a mobile gift card company, which was acquired by global payments leader First Data Corporation and prior to that, founding and exiting multiple other startups.

He is an active investor and co-founder of South African Venture Capital leader Newtown Partners and has led early stage investments into successful startups, including SweepSouth. He is dedicated to finding trustworthy, secure and decentralised technological solutions to improve the lives of people around the world.

With a background in business consulting and operations, she has held management positions at Thomson Reuters and Gyft. Committed to collaborating with engaged, thoughtful teams to deliver meaningful services and interesting products to the marketplace. He most recently led finance and HR at Gyft. Prior to Civic, she worked at Match Group, one of the largest dating portfolios in the world, and built their Sponsorships and Brand Partnerships programs from the ground up. Nancy is passionate about blockchain, startups, and brings creative storytelling and strategic marketing expertise to Civic.

After spending a decade with leading accounting firm KPMG in various Risk Consulting leadership roles, he joined digital marketplace bank LendingClub where he supported their efforts to become the first public U. She holds a B. Camille Domenik Director of Finance Camille has over 15 years of experience in finance and accounting across different industries including private equity, biotech, and payments with the last 5 years in the blockchain technology space.

Though her background includes experience in both the private and public sectors, she is most passionate about projects in the growth and development phase. In short, you can verify your identity without going again and again from bottom to you if CIVIC ID is accepted by the service that you are intended to use.

But wait! This is only one of the use cases of it. There are many more use cases that I will discuss further in this article. Civic is building an ecosystem that is designed to facilitate on-demand, secure and low-cost access to IDV i. Civic also intends to introduce a Civic token, or CVC, that participants in the ecosystem will use to transact in IDV-related services.

Identity Validator — One who validates the identity. User — One whose identity requestor wants to verify. Now, the Validator who is already a trusted party and has it in their interest to verify the user verifies the PII. The validator, after verifying the user via its standard verification procedure, stores the hashes of the data in the blockchain. This data is stringently verified by Civic or identity verifying partners and then anchored to the blockchain in the form of un-decryptable data.