A few important milestones marked the second quarter of 2024, implying new circumstances for the crypto sector. Most importantly, the SEC approved 8 Ethereum ETFs, including BlackRock and Fidelity, ushering in new growth. At the same time, Bitcoin ETFs grew rapidly after their January launch to about $50 billion. On the US regulatory front, the FIT21 bill, a comprehensive crypto reform, passed in the House and will advance to the Senate. In the EU, MiCA, Europe’s comprehensive reform regulation, continues to roll out.
New Products and Integrations
This year at Consensus, we launched a custom Civic Pass, allowing companies the ability to manage user access on an ongoing basis. This means user access to on-chain assets can be revoked if the user doesn’t meet requirements. Civic Pass, our flagship product, may be used as an advanced identity and access management tool (IAM) both on-chain and off-chain. Companies may issue, freeze and revoke each user’s custom Civic Pass according to their own ruleset. This means only users who fulfill the rules set will be able to access crypto assets through their platform, and the product will allow companies to fulfill their anti-money laundering obligations.
Together with Bonfida, Realms and the Solana Foundation, we helped protect quadratic voting as a public good. As DAOs continue to evolve, they’ll have more treasury money to protect from scammers and other swindlers with uniqueness protection via Civic Uniqueness Pass. We’re excited to offer this protection to all DAOs on the Realms platform, together with Bonfida and the Solana Foundation.
Finally, we continued the development of our Civic ID system and the Civic physical card. We’re looking forward to sharing more about our plans for Civic ID in the fall.
Connecting With our Communities
During the second quarter we attended Consensus in Austin, Texas, where we announced our custom Civic Pass and sponsored the State of Crypto Regulation stage. Our team members in attendance convened with many of our current and prospective customers.
We also helped cultivate new approaches to identity across our ecosystem by sponsoring a hackathon track at Berlin Build Station for the Solana Renaissance hackathon. We were thrilled to honor Ohr, a project that will reshape the music industry!
Tokenized Identity, our new podcast, was launched with the goal of educating our community about the benefits of including digital identity by design. To date, we’ve released three episodes, which include the following guest speakers: Lasha Antadze of Rarilabs, Corey Wright of Honeyland, Dean Pappas of Dean’s List. Make sure to check out all of our episodes across the full playlist.
Civic was featured across several news publications during this time period, including Cointelegraph, where our VP of Go to Market, Titus Capilnean, discussed strategies to protect airdrops. Another article in Unchained also featured Titus covering nuances of the same subject. Our VP of Engineering, Dan Kelleher, connected with the COTI community and with other identity experts in X Spaces. Our CEO, Chris Hart, joined a couple podcasts to discuss hot topics on YWhales and the Empire DAO podcast. We were also happy to have a team member in South Africa connect with the Solana community in Cape Town.
Looking Forward
We are really looking forward to the second half of the year and expect to have more announcements this fall related to Civic ID. We can’t wait to share what we’ve got cooking!
