Bailey Reutzel

Vinny Lingham has big ambitions. Through his startup Civic, which released its CVC crypto token in the summer of 2017, Lingham is building a self-sovereign identity platform. And while the technology is currently being used mainly in so-called automated retail (aka vending machines) for the purchase of two restricted goods–alcohol and cigarettes–he believes this type of tokenization could eventually lead to a more open financial system.

Check out the video below as he explains more about Civic's ambitions.


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Tokenize all the Things

civic

tokenization

vinny langham

Civic (CVC) is an identity management service that allows one to protect and authorize the use of their identity in real-time.

Civic

Insights into the biggest events shaping the crypto industry.

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Creating a new financial system with beer, cigarettes and crypto - Decrypt

Through his startup Civic, which released its CVC crypto token in the summer of 2017, Lingham is building a self-sovereign identity platform.

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There's a row of surveillance
cameras emblazoned

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with logos including Google,
Facebook Whatsapp Snapchat.

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They're all pointing down at me.

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It's definitely a
statement and it's

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being made in midtown
Manhattan's spy escape

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espionage museum.

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That's why it's a fitting
place to be talking with Vinnie

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Langham the founder and CEO
of civic a blockchain based

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startup that's looking to use
crypto tokens to put control

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back in the hands of individual
web users when it comes to data

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to do this civic using the
theory and based CVC token

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hopes to create a self sovereign
identity platform that allows

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users to pick and choose what
kind of data they share with

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what kind of service providers
and while that uncoupling

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of our data from the powers that
be today is going to be quite

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the challenge civic is starting
with something a little more

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low key beer civics token
A's ID verification is being

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used in beer vending
machines to certify

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that people ordering
from the machines

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are of age plus
the company's tech

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has been added to some cigarette
dispensing machines as well.

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But Venice ambitions for civic
go way beyond booze and smokes.

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It's about creating an
open financial system.

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Yeah Because one of the things
that I thought was really well.

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I thought it was a negative
thing that happened in crypto

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is like one sort of the
regulatory regime came in.

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You stopped seeing crypto be
used by these grey markets that

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had typically gotten kicked
out of the traditional banking

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sector and traditional
payment sector.

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So I don't entertainment.

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Cannabis is a big one too.

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You know some of the
merchant services providers

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start taking those clients.

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So it's good to
hear that a crypto

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company is making inroads
with those people again.

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Yeah, I think it's
more about how

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do you create a new financial
system like a viable Coinbase

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talks about an open
financial system.

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And I think that's
something that we're

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trying to create as an
industry, the more open

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you know the thing
about everything.

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I'd like a lot of the rules
and restrictions around money

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these days comes from
where the money comes from.

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So if you're extremely
very religious

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and you know what I would call
you in particular religion,

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but from a religious
belief that alcohol

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is bad or tobacco
is bad or cannabis

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or when you put
money in the bank.

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You don't want
them lending it out

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to people using
such transactions.

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These banks are kind of
stuck because they're

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big depositors don't want
him to businesses and areas.

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But time and place of
OECD and LP et cetera

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like they'll give
you $100 million

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from some sovereign
wealth fund or whatever.

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But you cannot invest
in weed tobacco.

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All right.

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And because it's
so sad like it's

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constrained
capitalism in a sense,

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because it comes with
social conditions.

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Yeah, right.

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Some kind of morality.

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Yeah, it's very it's
morality based capital.

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And I'm not saying
it should be you

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know that things are immoral.

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But I think morality is a
very fuzzy line like what

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some people think you might
like some people really

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you know you look at if you
look at how women are treated

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other parts of the
world versus in the US

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like you know like
in their minds.

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It's not immoral.

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In our minds.

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It is.

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Right look at how you
look at alcohol and look

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at like smoking in some parts
of all this is forbidden and.

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And in the US it's OK.

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It's like morality is subjective
basically a culture, society.

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But the point is that you're
an open financial system

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would be fair to everyone,
regardless of your beliefs

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and not be putting people under
you know under effectively

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under duress financial duress.

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If you did not follow
their set as beliefs.

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So my beliefs are
that we should get

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a more open financial
system for the world.

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But I think we get
many years come.


Creating a New Financial System Starting with Beer, Cigarettes and Crypto Tokens

Tokenize All The Things - Collection

Creating a new financial system starting with beer, cigarettes and crypto tokens

Through his startup Civic, which released its CVC crypto token in the summer of 2017, Lingham is building a self-sovereign identity platform.