Civic Blog Updates

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  • Civic Blog Updates

     solbot updated 6 days, 5 hours ago 2 Members · 12 Posts
  • solhack

    Organizer
    April 21, 2021 at 12:24 pm

    Civic Blog Updates

  • solbot

    Member
    July 10, 2020 at 4:46 pm

    We’ve heard from many of you about your love of cryptocurrency. Many of you have accumulated a few different wallets along the way and have asked about the best way to HODL crypto. Now that Civic Wallet is in app stores, we hope you’re excited to take advantage of the wallet’s features. With Civic Wallet, you can bring in your crypto and start protecting it with the company’s $1 Million Cryptocurrency Protection Guarantee (full terms & conditions). The protection is already part of each Civic Wallet, and there’s no need to sign up for it.

    Now, let’s say that you lose your phone or somehow lose access to your Civic Wallet. Depending on the digital wallet you use, this could mean that you lose access to your cryptocurrency permanently. But, here’s what Civic Wallet gets right, where other digital wallets may fail: because Civic Wallet is multisig and has already verified your identity during enrollment, restoring your digital identity and cryptocurrency is easy.

    Having lived through some of crypto’s earlier years, many of us are familiar with stories of people who have misplaced passwords or somehow lost their private keys. Thankfully, with Civic Wallet, there are no more passwords or seed phrases to track.

    How to bring your digital currency into Civic Wallet

    After downloading Civic Wallet and setting up an account with some basic information, you may easily send yourself some digital currency (USD, BTC, ETH or CVC) from a digital wallet outside of the Civic network.

    Tap Receive to transfer funds into Civic Wallet from another wallet or exchange.
    1. Open your Civic Wallet and select your currency type. For example, if you choose to start with BTC, tap on the Receive icon. Once on the Receive screen, copy your unique BTC address to your phone.
    2. Then, go to your other digital wallet, input an amount, paste your Civic Wallet address as the recipient of the funds, and pressed send.

    That’s it! The transaction takes a few minutes, and before long you’ll see the crypto in your Civic Wallet. Check out our Help Center for more instructions on how to send and receive funds.

    Haven’t tried out Civic Wallet yet? Get started in the Google Play Store or App Store.

    The post How to transfer crypto into Civic Wallet appeared first on Civic Technologies, Inc..

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    Author: Nancy Li

  • solbot

    Member
    July 29, 2020 at 2:00 pm

    We used to send long letters by airmail to keep in touch with friends overseas. Today, we stay connected electronically with free messaging that takes just an instant to send. While the tools we use to stay in touch have evolved over time, other ways such as the process of sending gifts, can still be an expensive, slow process.

    Now, an easy new option for sending a gift to keep in touch recently became available with Civic Wallet. You may now send small virtual gifts to friends and family in the form of crypto. The process is fast, so compared to other methods of sending money, or even shipping something physical, gift-giving with crypto has become a much easier option. Whether your friends use Civic Wallet or another digital wallet, sending and receiving crypto is nearly instant. 

    On top of this, the crypto you hold in Civic Wallet is protected by a $1 Million Cryptocurrency Protection Guarantee (full terms & conditions). If your friends are receiving money via Civic Wallet, they are also covered by the guarantee.


    How to send crypto from your Civic Wallet to a friend’s Civic Wallet

    There are two ways to send funds to a friend who is receiving it via Civic Wallet:

    By username

    Select the digital currency you’d like to send. Tap the Send icon and enter your friend’s username. Once you locate the username, enter the payment amount, and press Confirm & Send.

    By QR code

    The second way to send crypto works if you are physically in the same room as the recipient.

    1. Your friend begins by selecting the currency they’d like to receive in their wallet and tapping the Receive icon to generate a QR code on the next screen.
    2. Open your Civic Wallet, tap the green Scan button on the bottom of the screen.
    3. Scan your friend’s QR code using your phone, and enter the payment amount.

    How to send crypto from your Civic Wallet to a friend outside of the Civic network

    The last way to send currency is directly to an address, which varies by currency type. 

    By receiving address

    1. Your friend should begin by opening their digital wallet and locating their receiving address. From here, your friend should copy the receiving address and text it to you.
    2. Next, open your Civic Wallet and tap the Send icon for the crypto you’d like to send. Paste in the receiving address, enter the payment amount, and press Confirm & Send.

    Get started in the Google Play Store or App Store if you haven’t downloaded the wallet yet. Then, visit our Help Center to learn more about sending crypto around the world.

    The post How to send crypto to friends using Civic Wallet appeared first on Civic Technologies, Inc..

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    Author: Nancy Li

  • solbot

    Member
    September 22, 2020 at 1:00 pm
    Skip to 1:25:36 to see Civic’s presentation.

    Recently, our CEO, Vinny Lingham, joined a forum hosted by the United Nations World Tourism Organization (UNWTO) to present an overview of Health Key by Civic™. The forum, called “Tourism Tech Adventures on Aviation Technologies,” showcased the best ways to jumpstart the tourism industry as the world evaluates safe reopenings. The UNWTO was founded to cultivate modern tourism, which is closely linked to socio-economic progress around the world. 

    Health Key by Civic offers one way to provide safe passage abroad. The solution can help travelers keep their identity and health information private, while allowing organizations to create safe spaces on airplanes, in hotels, and at large gatherings. It is built to comply with international GDPR and CCPA and other data privacy regulations.

    For travelers, providing health status verification to gatekeepers is as easy as getting a vaccine from a qualified partner and then setting up Health Key by Civic in our Civic Wallet app. When a user signs up, they are authenticated as a real person, using both AI and blockchain-based technology. Civic does not take custody of personal data or medical records. 

    For businesses, Health Key by Civic streamlines the management of entry points. This is critical because there are complicated logistics that the industry will need to navigate. First, there are many vaccines currently undergoing testing with varying efficacy rates. Second, there are 172 economies collaborating on distribution. This means that countries and organizations will need to confirm that an individual has received a vaccine, whether the vaccine received is effective, and which local entry point regulations must be followed around the world. It’s a problem that may be solved with thoughtful technology.

    While we’ve been working hard to provide the right kind of technology solutions, we also know that collaboration on health status verification is essential. Civic partnered with Circle Medical to supply testing for interested San Francisco Bay Area companies. Additional regional testing partners will be coming online to support customers in other locales. Together, we seek to give individuals control over their own credentials and facilitate economic rebuilding.

    And, along with collaborating in the medical and international communities, Civic has been making progress on other fronts. Recently, we’ve been working with California lawmakers on a bill that will provide privacy-oriented guidelines for proof-of-health technology.

    To learn more about proof-of-health and the travel industry, we invite you to watch the UNWTO forum and check out Health Key by Civic.

    The post ICYMI: Health Key by Civic at the UNWTO Forum appeared first on Civic Technologies, Inc..

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    Author: Nancy Li

  • solbot

    Member
    October 22, 2020 at 11:00 am

    When we designed and launched Civic Wallet earlier this year, we took into account what we’d learned from Civic Secure Identity to build a better, more flexible experience for users in Civic Wallet. 

    We’re proud of the added functionality and product flow that we’ve built in Civic Wallet. With this improved user experience now in place, we will be removing Civic Secure Identity from app stores by the end of November and asking these users to download Civic Wallet.

    Starting October 22, 2020

    You can download Civic Wallet (Android | iOS) and register an account. For existing Civic Secure Identity users, please register using the same email address. Once you are in the app, you may use it to scan any partner QR codes or create crypto accounts within the app. Further KYC may be required. Please note that identities are not carried over from Civic Secure Identity.

    Starting October 26, 2020

    Civic Secure Identity will no longer work on mobile websites and will require you to use Civic Wallet. You may continue using Civic Secure Identity when you access partner sites on desktop until the end of November.

    November 30, 2020

    Civic Secure Identity will be removed from the app stores.


    Using Civic Wallet

    Civic Wallet offers enhanced identity management and allows you to send and store Bitcoin globally.  And, it’s all covered by a $1 Million USD Cryptocurrency Protection Guarantee. Civic Wallet holders are able to send and receive BTC around the world to usernames, crypto addresses and to other Civic Wallets via QR codes. By design, Civic Wallet puts you back in the driver’s seat with more control over your information, easy restoration if you ever lose access to your account, and no more complex seed phrases or passwords to remember.

    Does everyone need to download Civic Wallet?

    All Civic Secure Identity app users are required to migrate over to Civic Wallet. Simply download the app and sign up for an account.

    I have a verified account in Civic Secure Identity, do I need to go through verification again in Civic Wallet?

    Yes, you will need to set up a new account in Civic Wallet.

    Why can’t I create crypto accounts?

    Unfortunately, regulations prevent residents from certain countries from transacting with cryptocurrency using Civic Wallet. Our coverage map reflects the countries where residents are eligible to use crypto with Civic Wallet.

    How do I undergo additional identity verification?

    When you add cryptocurrency to Civic Wallet, you will be prompted to undergo additional identity verification. Our coverage map shows countries where verification is supported.

    What personally identifiable information (PII) do you store?

    If you opt to download and use Civic Wallet, your PII is stored on your phone. If you create a crypto wallet, we will verify and securely store your PII in accordance with our privacy policy.

    The post Civic Secure Identity Users: Say Hello to Civic Wallet appeared first on Civic Technologies, Inc..

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    Author: Nancy Li

  • solbot

    Member
    December 3, 2020 at 5:22 pm

    Over the past few years, Civic has been proud to support our customers in reducing fraud, achieving compliance and onboarding customers quickly. And, during that time we have learned a lot more about our customers’ needs, which has directed our product evolution. Today, we’re proud to introduce our new Identity Verification by Civic. We’ve completely revamped our identity technology on the front end for businesses, so that installing and managing identification is easy, and businesses can get up and running quickly. And, our service is even more flexible with a pay-as-you-go option.

    In the era of lockdowns, commerce has accelerated its shift from brick-and-mortar stores to digital shopping. At the same time, new regulation addressing fraud is driving business compliance in the cryptocurrency space. With these tectonic shifts underway, identity verification has never been more important. Businesses need technology solutions that protect them from fraud, maintain compliance and their customers’ privacy all while creating scalable environments.

    Identity verification has always been our core mission at Civic. We believe that everyone should have a digital identity they own and control. When people and businesses have more control over the information they transact with, safer platforms can be created for everyone.

    Advanced Technology for Business

    Identity Verification by Civic has been completely redesigned for simplicity, making it easy to implement for any ecommerce use case. A streamlined experience means your business can more effectively use our industry-leading technology.

    With identity verification support for more than 195 countries, Civic can support your business globally. Trust is the essential ingredient when it comes to transacting safely. That’s why we’ve invested in the biometric and liveness verification, which provides a less than one percent false rejection rate. This means that no matter where you do your business, commerce with your customers is GDPR, CCPA and HIPAA compliant.

    Civic offers Identity Verification in two easy ways. You may integrate it with your existing app or website, or use our stand-alone app, which assumes management of personally identifiable information. For your customers, participation is as simple as downloading the app on their mobile phones and taking just a couple minutes to complete enrollment.

    Powered by patented technology

    Civic leverages patented blockchain technology, which allows businesses to authenticate users in real time without storing their data. Consumers benefit from having more control over their own information, knowing that their data cannot be stored by the identity-requesting businesses. At the core of the system is an identity network based on verified trust, making it safer and easier to exchange information between multiple parties. 

    Easy customer experience

    Identity Verification for your customers is available through Civic Wallet on both iOS and Android. Civic Wallet offers a privacy-focused experience and the ability to add cryptocurrency and health status information. Customer sign-up takes just a few minutes and customers can start using Identity Verification by Civic right away.

    The post Identity Verification Is Now More Flexible Than Ever appeared first on Civic Technologies, Inc..

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    Author: Nancy Li

  • solbot

    Member
    December 22, 2020 at 8:01 am

    During the second half of 2020, Civic has continued charging ahead, making strong gains with our Civic Wallet app, building out Health Key by Civic, and providing our users with a best-in-class experience by transitioning Civic Secure Identity users to Civic Wallet.

    Key Milestones

    Following the app store launch of Civic Wallet in June 2020, thousands of users have created Civic Wallets. Civic Wallet users love that their cryptocurrency is protected by our $1M Cryptocurrency Protection Guarantee (see Terms & Conditions) and is hassle-free, without the need to remember complicated passwords. In the words of one Civic Wallet reviewer: “[It’s]…the most secure way to store your crypto, guaranteed.”

    Enhancing the value of Civic Wallet for our users is a top priority. This is why we’ve contacted many of our users to get their unfiltered feedback and improved our app to give them the features they need to make crypto easier. We were also proud in the second half of 2020 to expand our global coverage, which now includes 195 countries. Our customers live around the world, and Civic has them covered where they need to be.

    We’ve also expanded Health Key by Civic™, our health status verification service, which will help create safer working environments. Health Key by Civic is now available to help reopen daily life in any use case where health information is required for access, and across borders. This summer, Civic presented an overview of the service to a forum convened by the United Nations World Tourism Organization. Sharing health status is easy for consumers, who can access Health Key by Civic through their Civic Wallet. With Covid, navigating border regulations has never been harder, but we’re making the process easier for businesses and other organizations. Our new demo video and the recent deep-dive article appearing in BeInCrypto help explain how the system works. Finally, we made strides in laying a strong foundation for future health status legislation through our work with the State of California.

    When we designed and launched Civic Wallet earlier this year, we took into account lessons learned from Civic Secure Identity to build a better, more flexible experience for users in Civic Wallet. With the improved user experience in place, we’ve removed Civic Secure Identity from app stores and asked our users to download Civic Wallet. By streamlining our processes, we’re better able to serve all of our users.

    Civic in the News

    During the second half, Civic was covered in a number of publications, including Cointelegraph, Biometric Update, Identity Review, and Crowdfund Insider. As a first-mover in the blockchain space for health status, Civic was also featured in an industry profile in Cointelegraph. Civic CEO Vinny Lingham was also featured in podcasts and events, such as BlockspeakThe Curious Cult and Blockdown.

    What’s Next for Civic

    As we take a look around the corner into 2021, Civic is already hitting the ground running with our stand-alone identity verification service for businesses, including more flexible options and pay-as-you-go pricing. Compliance has never been more critical than in 2020, where a remote world needs secure systems to work. Civic Identity Verification does just that by ensuring that commerce with customers is compliant across KYC, AML, GDPR, CCPA and HIPAA regulations. 

    In addition, we’re focused on enhancing the value of Civic Wallet for our users. As they continue to bring in and hold BTC, our users are assured knowing that their crypto is protected with a $1M Cryptocurrency Protection Guarantee. We’ll be introducing more features in 2021 that are sure to appeal to our loyal users.

    The post Civic Milestones and Updates: Second Half of 2020 appeared first on Civic Technologies, Inc..

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    Author: Nancy Li

  • solbot

    Member
    January 13, 2021 at 10:35 pm

    Now that the United States is a few weeks into deploying the COVID-19 vaccine, many frontline workers have received at least their first round of shots, along with a digital medical record documenting this, or vaccination record card provided by the Center for Disease Control (CDC). The digital records and vaccine cards include medical information, including the manufacturer and date of administration.

    As plans are unveiled for further vaccine distribution, a light at the end of the lockdown tunnel has begun to emerge, and planning for a “new normal” is underway. Businesses and governments are in the process of rethinking how they will manage social interactions throughout daily life. With part of the population vaccinated, occupancy limits will change and travel restrictions will be revamped, creating new opportunities to slow the spread of the virus and simultaneously expand in-person contact. 

    COVID Health Key by Civic™ offers the most secure, most private and most compliant way to maintain safe spaces by securely verifying proof of vaccination status. We’ve designed our technology to allow for a more inclusive approach to rebuilding. With Health Key, individuals keep control over their personal information by using digital identity from the industry’s leading innovator. No personal data is stored or entered into any requestor’s database. 

    Now, Civic is expanding its ability to help more organizations by providing small businesses and ad-hoc networks with the ability to create safe environments around the world — all without maintaining personally identifiable information or compromising the privacy of their patrons.

    Consumers and small businesses may begin using COVID Health Key by Civic™ in Spring 2021 as a stand-alone, self-serve solution. Restaurants, gyms, daycares and more have struggled to resume business with mandates for low occupancy rates. Health Key helps enable the loosening of constraints in a safe and easy-to-use way. For customers, using Health Key means simply linking their digital medical records or uploading their vaccine card and self-attesting the document’s accuracy in the app.

    For larger organizations, we’re offering a previously announced version of COVID Health Key by Civic™ that streamlines the management of entry points. This product helps organizations confirm that an individual has received a test result or vaccine, and that local entry point regulations have been followed. Civic links the medical record on the back end, for seamless review by the individual and receipt by requestors.

    Civic is also building government solutions, available worldwide with the exception of a few sanctioned countries. Customized solutions can be linked to national healthcare systems, identity cards, passports and customs requirements. Health Key by Civic™ is a real-life application of our patented digital identity system. It’s also compliant with international GDPR, CCPA, and other data privacy regulations. 

    Interested in finding out if Health Key by Civic™ is right for you? Get in touch with our team.

    The post Now, Consumers and Small Businesses Can Manage Proof of Testing and Vaccination appeared first on Civic Technologies, Inc..

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    Author: Nancy Li

  • solbot

    Member
    March 11, 2021 at 12:55 pm

    Today, Civic announced news that it is integrating with Solana blockchain. We were founded on the belief that everyone should have more control, access and privacy when it comes to their personal data. With the visionary, lightning fast, scalable Solana platform, we believe we finally have the opportunity to make identity work the way it should, as a cornerstone of blockchain infrastructure. For us, this means giving consumers an upgraded experience across the board.

    As a startup, and as with any good business, we make progress by prioritizing our resources. For Civic, prioritizing the Solana integration means making a trade-off with another workstream. That’s why we’ve made the tough call to halt the development of our Covid-19 vaccination projects, and today we’re bittersweet to announce that we are sunsetting Health Key by Civic™.

    Last summer, when we announced Health Key by Civic™, the path forward in getting the world back to work, school and daily life was unclear. Now, as the vaccine continues to roll out and variant strains develop, the way forward has continued to unfold through large, established companies and trade associations that have stepped in to fill the void. While we still know there’s a need and desire for privacy and protection when it comes to sensitive personal data, we believe that Civic’s strengths and competitive advantages will fare better in another industry. And, with the underlying power of the Solana blockchain driving our technology, we believe that Civic will be better positioned to serve  as a gateway to the next wave of financial products.

    So, as we bid adieu to our Health Key by Civic™ solution, we are proud to stand firmly with our new direction, which we believe will take Civic and identity verification to an even greater future.

    The post Update on Health Key by Civic™ appeared first on Civic Technologies, Inc..

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    Author: Nancy Li

  • solbot

    Member
    March 11, 2021 at 1:00 pm

    Spurred by an Explosion of Use Cases and High ETH Fees, Civic Joins Growing Solana Ecosystem

    Civic Brings Digital Identity to the Future of Blockchain, Prioritizing Low Fees, Speed and Scalability

    SAN FRANCISCO (March 11, 2021) — Civic, a leading innovator in digital identity solutions, today announced a technology integration with Solana, a project implementing a new, high-performance, permissionless blockchain. The collaboration will allow for improved privacy, regulatory compliance and ease-of-use as digital identity takes center stage as the cornerstone of the new wave of consumer-first blockchain infrastructure.

    “Early blockchains have been good testing grounds, but with high fees and slow transactions, many consumers and applications are simply priced out of the ecosystem,” said Vinny Lingham, co-founder and CEO of Civic. “Now, with Solana, we’re making identity foundational to the blockchain and broader ecosystem that’s ready for the future and built to scale for mainstream consumption.”

    Currently, high ETH transaction fees are blocking mainstream adoption of DeFi. These high rates more than erase any returns for the average investor, making investment in the ecosystem unattractive and unsustainable. Solana’s low fees scale as the ecosystem grows, and with Civic’s identity-based key management, key recovery and practical experience, Civic will help make financial tools more accessible to mainstream consumers. 

    In addition to the identity elements Civic is bringing to the Solana ecosystem for any project to leverage, the company is also building a consumer friendly gateway to DeFi on Solana starting with a wallet experience that enhances the vision started with their mobile app on Ethereum. The wallet will offer intuitive design, identity-backed key management and a safe place to store tokens. Because of Solana’s technology, the wallet will be high-speed and have low transaction fees. The company plans to eventually merge the new wallet with its existing mobile Civic Wallet. Civic believes that identity will be a necessity for businesses in Solana’s ecosystem in order to comply with global regulations in the near future if DeFi is to truly scale for mainstream consumer adoption. These new products will offer more privacy and a more secure experience for DeFi products and other application layer technologies. 

    Civic uses Identity.com’s open-source identity verification ecosystem to power its identity products. Identity.com recently announced its own integration with Solana, focusing on refining decentralized identities and the next version of its marketplace. Together, the organizations are building consumer-first, privacy focused frameworks for better compliance and regulation, so that more safeguards may be brought in as the industry scales.

    “Identity verification is a key component of the web2 stack, and I am thrilled to see companies like Civic building to support a decentralized web3 world.” said Anatoly Yakovenko, President of the Solana Foundation.

    As leaders in the decentralized identity space, Civic is focused on a few real-world applications of its blockchain-powered technology. When a user signs up with Civic Wallet, they are authenticated as a real person by securely verifying their identifiable information and incorporating groundbreaking blockchain-based technology. Once they have a Civic Wallet, users are able to selectively share parts of their verified identity with third parties, for example, purchasing age-restricted products anonymously. The company also recently launched a flexible identity verification product that helps organizations verify identity quickly with minimal integration.

    Solana is a fast, low-cost Layer-1 blockchain designed to scale with advancements in hardware technology. Currently, Solana can handle up to 50,000 tps with sub-second finality and transaction fees as low as $0.00001. By comparison, Ethereum supports a maximum of 15 transactions per second. Most importantly, Solana’s blazing speed and low fees scale as the ecosystem grows without sacrificing censorship resistance or security. Solana has already seen growing interest in the DeFi space with established DEXes and AMMs, such as Serum and Raydium, already processing billions of user transactions. 

    About Civic Technologies

    As leaders in the decentralized identity space, Civic is focused on a few real-world applications of its blockchain-powered technology. The company offers flexible identity verification technology for businesses and is using digital identity as a gateway for decentralized finance on the Solana blockchain. Civic uses identity.com’s open-source, blockchain-based ecosystem to verify credentials. Civic was co-founded in 2015 by serial entrepreneurs Vinny Lingham and Jonathan Smith.

    About Solana

    Solana is a high-performance Proof of Stake (PoS) blockchain focused on delivering scalability without sacrificing decentralization or security.

    Until now, blockchains have been single-threaded computers, guaranteeing no two transactions conflict if executed in parallel. Solana unlocks concurrent GPU-parallelization for the first time, using Proof of History (PoH), a clock before consensus, delivering high speed, low latency, and inexpensive transactions, all at layer 1 without sharding.

    Developed by a team of former Qualcomm, Apple, Intel, and Dropbox engineers, Solana is stewarded by The Solana Foundation and is advanced by a loyal community of decentralized developers around the world. To learn more, please visit https://solana.com/.

    The post Civic Announces Integration With Solana Blockchain appeared first on Civic Technologies, Inc..

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    Author: Nancy Li

  • solbot

    Member
    March 17, 2021 at 2:00 pm

    “Markets don’t wait for engineering timelines.”

    –Vinny Lingham

    That’s Vinny Lingham describing why Civic is integrating with the Solana blockchain in a special AMA last week, featuring a fireside chat with Anatoly Yakovenko, CEO and Co-Founder of Solana.

    As background, Ethereum transaction fees have soared since last summer, blocking the mainstream adoption of DeFi and squeezing companies that depend on a functional blockchain ecosystem. With a second layer solution requiring months of development, chain-agnostic Civic and its non-profit partner, Identity.com, are paving a better path by leveraging Solana’s blazing speed and low fees that scale as the ecosystem grows.

    Vinny’s point was that companies experiencing the stranglehold of high ETH fees don’t have time to simply wait months for a software fix that may work. There are many available alternatives, including solutions like Solana that are better-positioned for the future.

    For its part, Civic believes that with identity as a cornerstone of blockchain infrastructure, a safer, more sustainable financial ecosystem may develop. And, with its unique expertise in identity-based key management and recovery, Civic will help make financial tools more accessible to mainstream consumers.

    The journey to working with Solana began several years ago, when Vinny was first introduced to Anatoly in the most unusual way. As Anatoly recounts to Vinny during the virtual event, they met through a mutual friend that plays underwater hockey, back when Solana was looking for its seed round of funding. Anatoly said it really was that weird sport with a small community that led to the check that got the company its start.

    Key Takeaways

    • 03:15: Civic is integrating with the Solana blockchain to leverage blazing speed and scalable fees.
    • 23:18: Solana CEO Anatoly Yakovenko joined Civic CEO Vinny Lingham for a fireside chat. Spoiler: they met through a mutual friend who played underwater hockey.
    • 30:15: Why is Solana the right platform for DeFi?
    • 45:15: The move away from ETH was prompted by high gas fees and a long timeline for Layer 2.

    Other Highlights

    During the event, Anatoly and Vinny cover a range of topics, including Solana’s vision for DeFi at inception (30:15), what it was like last summer when ETH gas prices spiked (27:23), and what the landscape will look like now that many corporations have invested in cryptocurrency (40:44). Importantly, they cover the near future of identity. Anatoly notes that the “Summer of DeFi” proved that small groups of 10,000 to 20,000 people can easily organize around the idea. By knowing that a fellow group member is a verified human, the community can very easily build decentralized trust, unleashing a brand new way to connect and take action around good ideas (38:37).

    Check out the full AMA above and hear more about what it takes to move blockchains. With the integration well underway, Civic will have more announcements about our consumer gateway soon.

    The post ICYMI: AMA With Vinny Lingham and Solana CEO Anatoly Yakovenko appeared first on Civic Technologies, Inc..

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    Author: Nancy Li

  • solbot

    Member
    April 28, 2021 at 11:00 am

    Yesterday, in a notice provided to Civic by the the United States District Court – Southern District of New York, the class action lawsuit brought against Civc, which began in April of 2020, was dismissed.

    The dismissal of this case signals the end of a lengthy and hard fought process for Civic. During the past year plus the company remained confident that we would prevail, not just on behalf of Civic, but in support of the crypto ecosystem overall. Nonetheless, sometimes being on the right side of an argument is not enough (and we were right), so it is with a certain sense of vindication that we tick this one in win column for Civic and for crypto.

    We would like to offer our heartfelt and sincere thanks to the loyal Civic community, our counsel, and to the crypto community at large for all your support. The innovative interconnected web of projects who call crypto home are an incredible group, and we count ourselves lucky to be among them. Onward and upward! Our work has just begun!

    The post Class Action Brought Against Civic Dismissed appeared first on Civic Technologies, Inc..

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    Author: Nancy Li

  • solbot

    Member
    April 28, 2021 at 3:05 pm

    Blockchain technologies flourished at the beginning of 2021 with the price of Bitcoin reaching new heights and NFTs bursting into the world spotlight. And, while Ethereum gas fees continued to constrict the flow of business, new blockchains gained momentum. Civic made bold moves in Q1 by responding to these new market conditions through integration with the Solana blockchain and further developing our identity verification business offering.

    Key milestones

    In March, we announced our integration with the Solana blockchain, which has been unlocking new opportunities for Civic. We’re proud that Civic — and our nonprofit partner, Identity.com — are paving a better, more sustainable path by leveraging Solana’s blazing speed and low fees that scale as the ecosystem grows. 

    The move was prompted by soaring Ethereum transaction fees, which have blocked the mainstream adoption of DeFi and squeezed companies that depend on a functional blockchain ecosystem since last summer. With a second layer solution requiring months of development, chain-agnostic Civic has shifted resources to providing an identity gateway for the next generation of blockchain-powered products.

    Now, with identity as a cornerstone of blockchain infrastructure, a safer, more sustainable financial ecosystem may develop. And, with our unique expertise in identity-based key management and recovery, Civic will help make financial tools more accessible to mainstream consumers.

    We believe that identity will be a necessity for businesses in Solana’s ecosystem in order to comply with global regulations in the near future if DeFi is to truly scale for mainstream consumer adoption. Our new products will offer more privacy and a more secure experience for DeFi products and other application layer technologies.

    Buzz about Civic

    Our Solana integration announcement took center stage in the first quarter. Identity Review shared a thorough write-up, noting that “Through this new collaboration between Solana and Civic, the fintech industry will take a step toward making financial tools more secure and more accessible to mainstream consumers.”

    We also gave a company update outlining the announcement and how we are interpreting the future with emerging technology. In the update, which was open to the Civic community, we had the opportunity to talk about the integration with Solana CEO Anatoly Yakovenko. Most importantly, we talked about why now is the right time to devote resources to integrate with Solana: because markets don’t wait for engineering timelines. This is in reference to the time it will take to build Layer 2 on the Ethereum blockchain. Businesses within the ecosystem need to keep moving their momentum forward.

    Earlier, before BTC spiked and NFTs took center stage, we took a broad view of the new year in conversation with Cointelegraph, weighing in on topics such as store of value, central bank digital currencies and what to watch. We also shared commentary in podcasts for Gold Silver Bitcoin and Blockhash.

    On the horizon

    With new market conditions, the opportunities for identity verification abound. You can expect to hear more news about our Solana integration in the coming months, starting with a consumer-friendly gateway to DeFi on Solana via a wallet experience that enhances the vision started with their mobile app on Ethereum. With the emergence of NFTs, Civic has been actively exploring opportunities to harmonize and secure user experiences.

    2021 has already proven to be a disruptive year. We are looking forward to continuing to build on the new opportunities that our directional change has already brought to our doorstep.

    The post Civic Milestones and Updates: First Half of 2021 appeared first on Civic Technologies, Inc..

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    Author: Nancy Li

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