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ShapeShift partners with blockchain startup Civic to enhance Prism's security
Blockchain asset exchange platform ShapeShift has partnered with Civic, a blockchain-based identity verification startup headquartered in California.
The partnership is aimed at providing added security features to Prism, is a trustless portfolio market platform built entirely upon Ethereum-based smart contracts. ShapeShift launched Prism in May 2017. With this partnership, Civic will help deliver a secure user access experience for Prism platform users.
"ShapeShift was excited to integrate with Civic for our Prism platform as it allows us to further align with our dedication to providing strong security features across all of our offerings. We are fanatical about user security and are happy to be able to provide further protection for our customer's identities and financial assets from the growing trends of cyber fraud and identity theft,” Emily, Chief Marketing Officer of ShapeShift.
To use verified ID with Prism, users are required to download the Civic mobile app and complete an Identity Validation Process. The process verifies credentials to ensure ownership of the identity and establishes the required level of trust.
According to the official release, the data is fully encrypted in the Civic app on users' devices, not stored by Civic or Prism, making it impervious to typical data breaches and protecting the user's identity.
"We are pleased to welcome ShapeShift's Prism platform to Civic's Partner Network. This collaboration marks another milestone on our roadmap to building our global ecosystem for on-demand, secure, and low-cost access to identity verification services,” Civic CEO Vinny Lingham said.
The Prism platform is currently in private beta and registrants will be granted access over time by the ShapeShift team.
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