Bullshit detector: what's happening with Civic Pay after ICO?
11/09/2017

Overview from the team kript.io


What is Civic: a secure identity platform.

The project focuses on U.S. citizens and enables individuals and businesses to control and protect their identities. Using a decentralized architecture (SIP) with a blockchain and biometrics on the mobile phone, the platform provides ID theft monitoring, fraud support, monitoring alerts, and ID theft insurance.
Website: civic.com

Token trading: June 21, 2017.

Where to buy tokens: Bittrex, Poloniex.

Token price: +106,25%.

How much they planned to make: hard cap — $33 million, soft cap — didn't mention.

What their token gives you: an internal currency. А right to pay for services within the ecosystem. The tokens paid in a transaction are allocated to the user and the validator as a reward for sharing information.The proportion in which they share tokens is determined by smart contracts.
What will happen to tokens: they issued 1 billion tokens in total. The tokens' distribution:
33% — token sale;
33% — company reserves;
33% — distribution to incentivize participation;
1% — covering token sale cost.

What they promised/made:
to release a beta version for iOS and Android — ✔️
to allocate 20 million tokens to more than 20 partners — ✔️
to create a complete roadmap with deadlines by the end of October — ✖️

Review after ICO:
developers believed that the transactions with CVC would be quick and convenient, however, as the users of bitcointalk say it took hours to proceed the transaction. Plus, there were plenty of technical difficulties on apple devices such as constant backup password notifications and absence of payments verification email.

developers planned to use online queues to avoid problems with the Ethereum network. However, due to the eventual clog in the Etehreum and the shutdown at Coinbase they had to suspend their crowdsale at the end of the first day after raising $29 million and having over 10,000 purchases. They resumed the sale the next day.

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