The e-commerce industry in South Africa has experienced a boom since the start of the COVID-19 pandemic — and Black Friday was no exception….
South African entrepreneur and Civic founder Vinny Lingham has announced the name of his new decentralised identity ecosystem – Identity.com.
In a blog post yesterday East London born Lingham, who is based in Silicon Valley, said Identity.com will be a “first-of-its-kind” decentralised platform that will open up access to on-demand, secure identity verification.
“Identity.com is designed to connect users, requesters, and validators around the world to enable reusable identity verification, powered by Civic tokens (CVCs).
“This ecosystem allows individuals, companies, and other entities to interact easily and safely in the digital world,” he said.
SA entrepreneur and Civic founder Vinny Lingham says Identity.com will be a ‘first-of-its-kind’ decentralised platform for secure identity verification.
Lingham also revealed that Civic processed the first of its CVC-powered Know Your Customer (KYC) transactions in March and is now preparing to expand access to decentralised identity verification services.
He said Civic’s long-term vision is to put in place a decentralised identity ecosystem that eliminates the costs and inefficiencies of identity verification while improving security and privacy, creating a best-in-class experience for all.
“Identity.com is a big step in our journey to provide every person with a digital identity that they can use to interact privately and securely with the world,” he added.
Yesterday cryptocurrency news site Coindesk reported that as a condition of the sale, Lingham could not reveal the amount Civic had paid to acquire the address.
The news site reported that according to Crunchbase the address was previously controlled by a company named Inflection.
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