The Exciting Partnership of Civic and BitGo
In a bold move that sends ripples through the blockchain world, decentralized identity startup Civic has partnered with blockchain security firm BitGo to launch a revolutionary wallet. Set to hit the digital shelves by Q4 of 2019, the Civic Wallet promises to be a game-changer in how we manage both cryptocurrency and identity data on our mobile devices.
Revolutionizing Control and Security
Enter the realm where financial transactions meet identity verification. As Civic’s co-founder Vinny Lingham put it, “we’re building a new financial and identity ecosystem.” This wallet aims to lower the barriers for newcomers diving into the blockchain, making it simpler and more secure for everyday users.
Multisig Technology at Its Best
Utilizing BitGo’s state-of-the-art multisig security technology, accessing the Civic Wallet will require robust identity authentication via a blockchain system. The beauty of this setup lies in its privacy protections; users can rest easy knowing that their personal information won’t be flung around to every digital Tom, Dick, and Harry.
Selective Sharing for Privacy
Once you’ve got your Civic Wallet, you have the power to selectively share parts of your verified identity. Want to buy age-restricted products without revealing your entire life story? Now you can! It’s like showing just enough of your ID to get served at a bar, while keeping the rest of your personal info locked away.
Backup Plans—Because Life Happens
Ever lose your phone? Yeah, we’ve all been there (cue the dramatic music). Thanks to the backup features that come with the Civic Wallet, users can restore their cryptocurrency assets seamlessly—even if their private key goes MIA. Mike Belshe, CEO of BitGo, emphasizes it’s a significant leap for crypto users, adding a level of security that was sorely lacking.
Limited Launch and Exclusive Sign-Ups
The Civic Wallet isn’t just a free-for-all; it comes with a caveat. Interested users can only sign up through pre-registration or by snagging a referral from a current user. So get those networking skills polished, folks!
What’s Next in the Wallet Revolution?
Coincidentally, this wallet buzz isn’t happening in a vacuum. For instance, Daimler has teamed up with Riddle & Code to develop a blockchain solution for cars. Think about it—car wallets that can enhance features like car-sharing and smart city capabilities! The future of wallets might stretch far beyond cryptocurrencies, redefining how we interact with technology.
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