Team Civic acquired the domain Why is it important?

After many trials and paperwork, the project Civic finally bought the domain Civic founder Vinny Lingham is about to turn the portal into the market for users ‘ personal data. This writes Coindesk.

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To this day the Lingam is not expected to carry out the deal.

I never thought that the domain would get us.

The title perfect for Civic purposes. We will remind, last year the project has collected $ 33 million for the ICO to develop a decentralized infrastructure identification. However, even with such resources, the project was difficult to buy a domain, because he already belonged to the company Inflection.

Crank trade agreement was only then, when the Inflection has decided to retire in this business. Lingam did not disclose the amount that had to pay for the domain name.

Let’s just say it was a lot of money. will become a platform for companies who want to buy or sell some information. Instead of trying to sell information directly, the company will first ask his permission. All users data will be stored in a decentralized manner and not on the servers of Civic.

It all works based on token CVC.

The token of the project will be a payment instrument for commercial transactions among firms, and the orders will work on smartcontract.

The launch of the new platform due to technical reasons had to be postponed to the fourth quarter of 2018. Code of the trading platform will be fully open to prevent the centralization of the service.

We do not want alone to stand behind the project. At the initial stages our team will manage it, but in the long run you should try to avoid threats of centralization.

In the future, in addition to Civic in you should see and other companies. Myself Vinny Lingham is confident that the acquisition of a new domain was a historic event for the project.


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