Load shedding has led to a myriad of innovative solutions such as renewable energy but the question of what happens next, past load shedding…
Vinny Lingham’s Civic launches consumer-first digital wallet
US based SA entrepreneur Vinny Lingham’s startup Civic, has launched its Civic Wallet on the App Store and Google Play.
Civic, a leading innovator in digital identity solutions, said in a statement on Tuesday (16 June) that Civic Wallet, previously only available in private beta, is now available in the App Store and Google Play.
Civic Wallet offers a safer way to store and transact with digital identity and currency around the world.
Civic also announced that in response to the market need for proof-of-health verification, it will offer the ability to provide secure and regulation-compliant health checks for employers, called Health Key by Civic.
Vinny Lingham’s Civic Wallet offers a safer way to store and transact with digital identity and currency around the world
“We built Civic Wallet because we wanted to be the first company to get it right for the consumer,” said Vinny Lingham, CEO and co-founder of Civic in the statement.
Lingham, who is now based in San Diego after moving a few months ago from Silicon Valley, said Civic Wallet offers users more control than before when it comes to protecting their digital identity.
“By design, Civic Wallet puts you back in the driver’s seat with more control over your digital identity and money with no more seed phrases or passwords to remember. And, we’re looking forward to offering proof-of-health verification as a new, privacy-focused element of your digital identity,” he said.
Civic said its wallet offers an easy way to pay friends and family around the world. Civic Wallet holders are able to send and receive funds to usernames, addresses and even to QR codes after creating a verified identity. Digital currency, including BTC, ETH, USDC and CVC, may be sent globally with low fees for a limited time.
Civic Wallet holders can immediately bring in their digital currency and start protecting it with the company’s $1-million Cryptocurrency Protection Guarantee†, provided by Coincover and insured by Lloyd’s of London underwriters.
All verified Civic Wallets are automatically covered by this protection. This means their digital currency is protected with account and key recovery.
Because Civic Wallet is non-custodial and multisig, users not only have more control over their digital identities and currency, they may also easily restore their account if they lose their phone.
Civic says in the event that a user loses access to their Civic Wallet, Civic will work together with its partners to recover access to a user’s funds by moving them to a new account.
Read more: Exclusive: Vinny Lingham to open Civic office in SA following IP rule changes
Featured image: Civic founder Vinny Lingham (Supplied)