Civic Enters the Vending Machine Market, Cooperates With 12 Major Players
23 April 2019 13:24, UTC
Civic has announced a partnership with 12 major retail vending companies: AAEON, AR Systems, Fastcorp Vending, Global Vending Group, etc. The goal of the cooperation is the introduction of technologies which can check the age of the buyer as well as commit cryptocurrency payments.
“Vending machines represent an introduction to the mass market, where people can see how digital identity functions in the real world, as well as opening up an entirely new market for automated retail,”— CEO Vinny LINGHAM said in a statement. According to the company, six partners control more than one mln vending machines connected to the Internet. It is expected that by the end of 2019,
identification technology will be implemented on 1,000 machines. The verification will be carried out by scanning documents (in most cases, driving license) to confirm age and identity.
21-02-2019 14:55:52 | Investments
As for cryptocurrency payments, the company plans to include GUSD by Gemini in the Civic Pay application; other cryptocurrencies will be introduced later. According to Lingham, the use of stablecoins can save 80–90% on transaction fees. Thanks to the advantages of Civic Pay, the company also views the pharmaceutical industry as the next market for its innovations.
Image courtesy of Coindesk
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