Civic’s position (134th) in the crypto ranks doesn’t immediately project it into the forefront of the cryptoverse.
However, the altcoin is slowly growing into mainstream adoption and acceptance as it offers unique identity-related services.
Civic’s growing reputation has further been aided by a string of partnerships it has gotten in the last one month, most recently Enkidu.
Enkidu, the world’s first blockchain based programmable collaboration platform, has confirmed a strategic partnership with Civic.
Civic will be bringing its trusted, secure identity services to satisfy the Know Your Customers (KYC) requirements to the Enkidu’s ecosystem for easy verification.
The current process of creating or joining a company on Enkidu is a very lengthy process filled with bottlenecks.
Enkidu will utilize Civic’s reusable KYC services in its ecosystem for users to easily scan and verify their documents before joining or creating an Enkidu company.
In essence, Civic’s reusable KYC services will significantly simplify the process involved in company registration on Enkidu.
Both entities will be working together on the project which is scheduled to launch by August 2018.
Vinny Lingham, the executive director of Civic Technologies has expressed his delight on the collaboration, stating that Enkidu is a leading entity in the advancement of several areas of blockchain technology.
Both entities stand to benefit immensely from this rather strategic partnership.
Civic’s reusable KYC services will make it easier for users in the Enkidu ecosystem to create and join companies while Enkidu will provide mass adoption, usage and popularity for Civic and the Civic coin (CVC), all which it lacks to a great extent.
Civic’s partnership is a big plus for the altcoin, coming just 3 days after Civic Foundation announced a major partnership with TokenMarket.
A year back, TokenMarket helped Civic in organizing and advertising the digital asset just before its ICO was conducted, now TokenMarket will be adopting Civic’s know-your-customer protocol.
Over the last one month, Civic has announced partnerships with Hub, the first algorithmic blockchain project. Effect.AI and CapLinked.
All are high profile partnerships and goes to prove that the Civic project is gradually gaining acceptance for its unique qualities.
These partnerships have also served as a boost to the value of the Civic coin.
Market Status of Civic (CVC)
Since Civic announced the partnership with Enkidu, the coin has enjoyed a positive run, causing the digital asset to rise by more than 10% since the announcements were made.
As at the time of this writing, CVC is up by 4.33% over the last 24 hours which gives it a trade value of $0.203.
Despite the rise in the value of CVC, the daily trade – exchange volume of the altcoin has witnessed a steady drop over the last couple of weeks.
Civic is ranked as the 134th largest cryptocurrency due to its relatively small market capitalization of $70.03 million USD.
The value of Civic (CVC), market cap, and daily trade – exchange volume could easily change with its newly acquired partnerships.