Brave Browser to Integrate Civic Identity System for Publishers
Brave has announced on September 21st that it will be incorporating into its browser the identity verification system created by blockchain startup Civic. The partnership aims to facilitate the use of the BAT token payment system, which underpins Brave’s platform.
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Brave to Adopt Civic’s Reusable KYC System
The new system, announced on Brave’s blog, will allow Brave’s verified publishers to use Civic’s identity services to access the Ethereum wallets used to store the Basic Attention Tokens (BATs) they earn through the platform. According to Brave, Civic’s system, which includes reusable Know Your Customer (KYC) functionality, will give publishers a secure and private identity verification method.
Under the Brave platform, advertisers can purchase online ad space (or user attention, as Brave prefers to call it) by buying BAT tokens. Users of the Brave browser are served ads on the sites of publishers who choose to opt-in to the Brave platform. These publishers are paid in BAT tokens for hosting the ads, while users and the Brave company take small fees from each transaction.
Brendan Eich, CEO and co-founder of Brave Software said in that a statement that:
“Civic shares our values around privacy and protecting user information, and we’re excited to work with them to offer Civic Reusable KYC, which will be key to ensuring security and privacy on our publisher network.”
Privacy-Promoting Brave Also Sometimes Collects Data
Brave claims that users benefit because by default the Brave browser improves the user experience by blocking ads from existing ad networks, third-party cookies, third-party fingerprinting, as well as malware and phishing attacks. Brave also says that the system works better for advertisers and publishers by replacing the existing middlemen, ad networks, which are expensive, inefficient, and prone to fraud.
Though Brave touts itself as offering greater privacy protections than the current online ad system, the company itself tracks users in some cases. In June, it began opt-in user trials, which recorded a detailed log of a user’s interactions with the Brave browser. This data was sent to Brave, who used it to feed their machine learning system. At the time, Brave said it would not share this information, and also stated that in the future ads would be sent directly to users of the Brave browser through a private channel.
Blockchain Identity Firm Civic Looking to Establish Itself
Civic, which raised $33 million USD in an ICO in 2017, provides a blockchain-based tool which it claims will simplify the process of verifying people’s identities online while still allowing users to control their own data. It recently acquired the Identity.com web domain. The Civic system, will, naturally, require that Civic tokens (CVCs) be used to effectuate payments between the various parties.
Civic CEO and Co-Founder, Vinny Lingham said that:
“… implementing Civic will enable more people to safely and securely utilize the Brave platform while establishing and sustaining trust between publishers and users.”
Civic’s system has been used for validating the identities of those participating in ICOs, such as the 0x ICO which raised $24 million in August 2017. Other blockchain startups, like the Request Network, have also incorporated Civic’s technology.
Both BAT and CVC Up in a Positive Day for Crypto Markets
Brave’s BAT and Civic’s CVC, which are both ERC20 tokens, are trading up in one of the most positive days for crypto markets in weeks, if not months. On September 21st, BAT is trading at 17 cents and is up more than 14 percent in the last 24 hours. However, it is down 82 percent from its high of 95 cents on January 9th of this year.
CVC has also experienced positive price action today, up nearly 12 percent to around 12 cents. Like BAT, CVC has also has fallen mightily since reaching a high of $1.38 on January 3rd, and is now down around 91 percent from that level.
Have your say. Have you ever used the Brave browser or Civic identity verification system? Will this partnership help Brave and Civic establish the Web 3.0?
Images via Pixabay