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Civic is developing an ecosystem intended to enable on-demand, secure, and low-cost access to identity verification (“IDV”) services through the blockchain. This aims to eliminate the need to recreate background and personal information verification checks from scratch each time.
Civic plans to launch a Civic token, or CVC, for ecosystem participants to use when paying for and settling IDV-related services.
Civic believes the ecosystem could lower total IDV costs, cut inefficiencies, strengthen security and privacy, improve the user experience significantly, and disrupt the existing IDV supply chain.
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