CIVIC Wallet is the first block chain to offer $1m guarantee on your cryptocurrancy
CIVIC Wallet native currency price doubles
CIVIC Wallet doubles as a proof of Identification
Market first sees CIVIC provide $US1m insurance to users of their wallet
In a sector first which will hopefully see more competitors arise CIVIC Wallet is offering users who store, send or receive cryptocurrancy using their wallet a $US1m guarantee for lost and stolen cryptocurrancies.
The offer also extends to people who have lost their phones or are unable to access their wallets through forgotten or lost passwords.
CIVIC Wallet isn't just a wallet to store cryptocurrancy it's main protocol is an identification verification system. Users can upload their personal identification to verify accounts on cryptocurrancy platforms. It also provides block chain companies with the ability to verify their users to ensure account creation of people and not mass adoption of bots.
With block chain tech evolving at a fast rate the company aims to provide the sector with a means to separate accounts operated by users and bots to ensure communities are better represented.
Mainstream social media sites are often plagued with bots that target people and dominate platforms. On block chain this could have the potential to limit rewards designed to reach.users and instead go to bots which are often pooled to one user.
The company states Information is stored securely with users and only gets shared with verification sites when requested and the user accepts giving the user total control of their identity.
The native currency of CIVIC Wallet is CVC which yesterday went on a bull run rising from around $AUD.30c to $AUD.70c before returning to $AUD.60c
Implementation and adoption of the service is yet to be seen but a $US1m price guarantee on lost and stolen cryptocurrancies will no doubt see many opening an account with the protocol. As the first of it's kind we hope to see more wallets provide insurance to users which will lead to market confidence and a greater adoption of Cryptocurrancies.
You can read more about CIVIC Wallet Here