Civic's token illustrates why companies masquerading as tokens will fail
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Quick Take
- Civic is an identity system founded by Vinny Lingham in 2015
- In 2017, the company raised ~$33m in funds through an ICO
- Civic is now down 96% from its all-time high, now trading at half its ICO price
Civic, the identity system founded by Vinny Lingham in 2015, is a notable example that serves as a strong case against many of the flawed token-based approaches that have been pursued. Vinny, a bitcoin advocate dating back to his previous gift card company Gyft, raised a 2016 seed from blockchain investors to “secure SSN,” without […]
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