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Blockchain-vended Beer Can Soon Become a Reality

Blockchain-vended Beer Can Soon Become a Reality

Reading Time: 2 minutes by on May 13, 2018 Altcoins, Blockchain, Entertainment, News, Tech

After the burgeoning of the cryptocurrency sector in 2017, the industry’s next step to move forward with working products, and real world uses-cases that propel blockchain technology and its related sectors as a whole forward. With this in mind, blockchain-based identity verification (IDV) platform Civic shall unveil a fully functional beer vending machine, which verifies identities via the Ethereum blockchain, at the crypto-themed event Consensus 2018.

Age-verifying Beer Machine

As reported on May 11, 2018, on Futurism, the beer-vending machine is not a prototype or an experimental concept, but a full-fledged, production-ready machine. Built in partnership with brewing giant Anheuser-Busch, which owns iconic brands like Budweiser and Hoegaarden, the device represents a perfect use-case of a blockchain-based product.

Source: Futurism

Speaking about the development, Civic’s marketing manager Titus Capilnean said:

“We’ve been thinking about practical ways of bringing crypto technology to a more mainstream audience, and how can we go so so niche that it’s so easy to understand for a regular individual. Proof of age seemed like the best low-hanging fruit.”

At the conference, users can verify their age via Civic’s mobile app, and purchase a beer of their choice from the vending machine. According to Capilnean, the Civic vending machine triumphs over traditional models in terms of customizable settings, and immutability of a large amount of data.

Enumerating on the long-term visions of the project, Capilean sees a variety of companies that sell age-restricted products choosing vending machines as a point-of-sale. This would comply with any local laws, and avoid legal lawsuits in case of a minor purchasing a restricted product.

As per Capilean:

“It’s not limited to just beer, it could be for any kind of age-restricted product. Unmanned entrance to casinos, and then for the vending machines, we can see this going into concerts, ballgames, venues, conferences.”

A total of 600 complimentary beers shall be distributed daily to conference attendees.

Machine a Long Way From Mass-Production

While Civic seems to have hit the nail on its head marketing-wise, there’s still a pressing factor to be addressed.

Although the machine is production-ready, there’s just one of it manufactured, with Anheuser-Busch revealing no plans for large-scale manufacturing or distribution plans. Presumably, positive feedback from the event may change this fact.

Launched in June 2017, Civic’s token offering was well-received by crypto-investors, with the company raising $33 million in the pre-sale period itself. At the time of writing, its native token CVC is priced at $0.35, placing the company on a total market cap of $120 million as per CoinMarketCap.

Describing the Civic protocol shortly after its launch, founder Vinny Lingham said that the product helps financial entities and verification-relevant industries a platform to securely store customer data, and provide an immutable Know-Your-Customer (KYC) service.

As per Capilean:

“Everyone contributes to the token economy, the service providers pays for the IDs, the validator gets the ID and the consumer gets the product.”

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