What is the Equifax hack?
Almost half of the US population may have been affected by the massive Equifax data breach, with the credit bureau revealing the personal info for as many as 143 million customers may have been exposed. Even as a handful of its top execs face a barrage of criticism for selling nearly $2 million in shares just days after the hack was discovered, the company is scrambling to deal with the aftermath and alleviate customer concerns. [1]
This means almost half of America was affected by this security breach, releasing personal information like social security numbers! If we can't trust these centralized organizations to keep our info safe then we need something with more security. In comes Civic, utilizing the blockchain for identity.
What is Civic?
Civic’s model allows for on-demand, secure and lower cost access to identity verification via the blockchain. Background and personal information verification checks may no longer need to be undertaken from the ground up every time a new institution or application requires one. Civic already has a working identity verification product that is available worldwide.
Why use Civic?
- It's not vaporware. They have already released an app available to download on the iPhone and Android
- Looking at the charts whoever pumped Civic a while back has finally started to reach a bottom point where investors can get in a little more comfortably.
- There's a public need! So many people in third world countries do not have a source they can go to to prove who they are. Trusting the government is not an option for many of these people.
- I'm tired of using facebook as an easy way to make an account on many platforms. Using Civic instead will allow me to keep more of my personal information private and not sold to advertisers.
- Once they start partnering up with more organizations to allow them to use Civic as an alternative identity to Facebook and google, it's utilization with exponentially grow. They have already partnered with Xapo.
There's many other factors that make me believe Civic will have true utilization and is at a good point in time for people to consider it, I like it as an investment right now as well.
Would love to hear your thoughts on the matter!!
This is not financial advice, just my opinion. Do your own research before investing your hard earned money. Have a great day!
Upcoming news.
I am already long term bullish on CVC
Same!
Will it break all time high? https://steemit.com/blockchain/@josepimpo/civic-on-poloniex-usdcvc-50-in-the-last-hour
Using blockchain for identification sounds like a perfect use for it. I think Civic or another form of it, may be very beneficial in the future.
There's others like uPort and Syscoin is doing sometime similar. The marketing and relationships Civic potentially is trying to accomplish believes me it will be the forefront leader.
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