Dentacoin (DCN), a project serving the global dental industry, is among the best cryptocurrency performers this week. It surged about 15% at one point on Tuesday but could not sustain the strong momentum amid a generally sliding market. Currently, it is difficult to determine accurately the key drivers behind the price surge, but one of the reasons could be the recent partnership with Civic.
Civic, a blockchain company working to create a secure identity ecosystem, launched last week Civic Connect - an app-to-app integration that enables blockchain-based user authentication. Thus, any app can import Civic Secure Login and Reusable Know Your Customer (KYC) for user authentication. The system allows users to apply for a Civic ID only once and then freely avail themselves of all the supported apps.
Civic Connect is meant to challenge third-party authentication through platforms like Facebook and Google. The apps that integrate Civic’s solutions will display the “Connect with Civic” button as an alternative to those.
Dentacoin represents the first use case for the new solution provided by Civic. Earlier, the company integrated Civic ID verification solutions for its DentaVox and Dentacoin Trusted Reviews. The former is an incentive-based research platform, while the latter collects authentic patient feedback.
Dentacoin will now use Civic Connect to provide secure ID verification for the Dentacare Health Training application, which allows users to gain Dentacoin tokens by demonstrating healthy dental habits. Civic Connect will help Dentacoin make sure that only real people are rewarded.
Dentacoin co-founder and core developer Jeremias Grenzebach commented:
“We implemented Civic into the user verification process on DentaVox and Trusted Reviews earlier this year, which has helped us tremendously ever since to ensure that real users with verified identities have access to our tools and can, therefore, earn and use the currency distributed within. Implementing the KYC on all the tools now, including Dentacare this time, will allow us to perfect this mechanism.”
While DCN has enjoyed some gains, the Civic (CVC) has lost about 10% this week.