In light of regulations, Security Token Offerings (STO’s) have become a hot topic around the world. While STO’s have become the preferred choice over ICOs, they come with specific rules, like the need to verify every initial token holder.
In light of the regulatory changes happening in the cryptocurrency space, Bountyhive is partnering with Civic and offering optional verification, which in turn will bring more & better ICOs and STOs for our Bounty Hunters.
This will not only drastically increase the quality of both Bountyhive campaigns, as well as users — but it also ensures a higher volume of campaigns.
🔑 What is Civic?
Civic is a digital identity company, revolutionizing how people prove who they are in the modern world. The Civic Secure ID Platform (SIP) provides multiple identity verification solutions, including multi-factor authentication (MFA) without a username, password, third-party authentication, or physical hardware token.
Additionally, Civic never stores user data, and Civic’s attention to modern privacy and security concerns, from both a business and user perspective, is one of the main reasons we think Civic is the best identity verification solution for Bountyhive.
🌀 How does it work?
In the future, some Bountyhive campaigns, particularly STOs, will be limited to participants with verified profiles. Every user will have the option to complete the verification whenever they wish to, ensuring that all of the regulations are met.
Note: Verification is not mandatory, and won’t be mandatory. Every user has the option to complete it or not. Some campaigns will be restricted to verified participants, but the users can simply choose not to join those campaigns.
“As Bountyhive grows, we strive to incorporate a more diverse selection of campaigns, and we believe identity verification is a great first step to accomplish this. With the help of Civic, we can now not only accept a wider range of projects but also increase the overall quality of participants.” — Tudor Stomff, CEO