Decentralized identity startup Civic and blockchain security firm BitGo plan to launch a new wallet using BitGo’s multisig technology in Q4 2019.
In a press release shared with Cointelegraph on July 23, the two firms revealed that the forthcoming “Civic Wallet” will host hold both cryptocurrency and identity data on mobile devices.
Control and security over funds and personal data
In the press release, Vinny Lingham, co-founder and CEO of Civic said “We’re building a new financial and identity ecosystem.” Lingham further expressed enthusiasm for lowering the barrier to entry into the blockchain sphere for consumers.
Using BitGo’s multisig security technology, the wallet will require users to undergo identity authentication using a blockchain system for secure verification. As the press release notes, this underlying data is not shared between multiple parties and aims to grant users more control over their personal information. It continues:
“Once they have a Civic Wallet, users are able to selectively share parts of their verified identity with third parties, for example, purchasing age-restricted products anonymously.”