PALO ALTO, Calif., July 14, 2017 /PRNewswire/ — Having recently sold $33m in digital tokens designed to provide purchasers with access to an identity verification ecosystem, US-based startup Civic Technologies, Inc. is now preparing to launch a number of strategic partnerships to promote widespread adoption. In conjunction with its recent token sale, Civic set aside 33% of the 1 billion tokens it created to distribute to such partners. Civic has already allocated over 20 million tokens to more than 20 partners in return for promoting adoption of the Civic ecosystem and building network effects.
The Civic token sale was one of the most widely distributed sales to date, with over 50,000 prospective purchasers and approximately 8,000 successful purchasers worldwide, in stark contrast to other recent token sales that only included a few hundred people.
According to Civic CEO Vinny Lingham, “Encouraging wide distribution is something that we have really focused on because we are trying to build a network effect. These partner sites, including WikiHow (a top 100 global web property), have over 250 million monthly active users across their various properties and have committed to implementing Civic by the end of 2017. This is a great start to building the Civic network since our successful token sale last month, and now we will continue to forge more partnerships to strengthen this network and give Civic users more opportunities to leverage this technology.”
The success of the token sale has attracted a burgeoning pipeline of new and diverse potential partners, ranging from the public sector to companies large and small. Civic is excited to introduce some of its strategic partners at this time, including Augmentors, Bayonet Technologies, Bankcoin.global, BnkToTheFuture, BitGo, C.O.S.S., Doc.ai, Injii, Jaxx, Keynua, Lykke, Propy, REIDAO, ShapeShift, RSK, StockTwits, SweepSouth, TokenMarket, Turo, Inc., WikiHow, Xapo and Yola.
Civic is spearheading the development of an ecosystem that is designed to facilitate on-demand, secure and low-cost access to identity verification services via the blockchain. Civic recently introduced a Civic token, or CVC, that participants in the ecosystem will use to provide and receive identity verification-related services.