September 22, 2018

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Blockchain-vended Beer Can Soon Become a Reality



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.

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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.”

Category: Altcoins, Blockchain, Entertainment, News, Tech

Tags: blockchain, blockchain news, Civic, consensus, entertainment, Ethereum, events, identity, technology



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