Civic (CVC), the blockchain identity platform, has hit a major milestone today as its token listing on Binance exchange was announced today.
Binance confirmed the CVCUSD pairing on Twitter this morning:
Civic bills itself as a “decentralized identity ecosystem” that allows users to set up their own digital identity which is then verified and stored on the blockchain. Service providers who need access to a user’s identity information can be granted permission by the user - without the user having to transfer their personal information each time it is needed.
An ERC-20 token, CVC can be used by service providers to acquire a user’s information - paying the user in the CVC token - and using Ethereum smart contracts to ensure delivery of funds. With user identities fully encrypted, the service promises to be a more secure and cost effective way of personal verification.
Following the announcement, the price of CVC rose 44% from its price this morning of $0.33 according to CryptoCompare - but has since settled at a $0.36 at the time of writing.
This latest announcement for Civic comes after the company made headlines at the Conensus Conference in New York this month with the introduction of the world’s first crypto beer vending machine.
Built in partnership drinks giant Anheuser-Busch, the machine was a hit at the conference. Users were able to walk up to the machine using the Civic App, which was able to identify that they were of legal age to make a purchase and then dispense their can of Budweiser.
With this latest listing Civic will no doubt look to capitalise on the recent publicity surrounding the project and get more users on board with their platform.