There are a lot of ways to implement blockchain technology. Civic is planning to do things especially differently with its ID Codes venture. This project will establish blockchain-powered verified relationships. It’s an important step toward ending scams in the blockchain and cryptocurrency world, although it may not be the end-all, be-all solution.
Explaining ID Codes
As the name somewhat suggests, Civic’s ID codes are designed to offer decentralized identity verification which both consumers and corporations can use with relative ease. This is a positive step toward proving business relationships in a transparent and immutable manner. No longer will there be any scams or fake projects in this industry, assuming this technology is adopted by everyone in the coming months and years.
How Does it Work?
With ID Codes, Civic is looking for ways to address the misleading aspects of some cryptocurrency and blockchain projects. Companies such as BitConnect, Onecoin, and any of the recent scam ICOs would have been flushed out pretty quickly if ID Codes had been available at the time. Even so, it is time to look toward the future, which is what cryptocurrency and blockchain tech are all about.
Civic’s new solution will let individuals verify their relationships by signing
Categories: Crypto Currency Portal