Blockchain identity startup Civic has recently announced its partnership with 12 automated retail companies.
Initial partners of Civic include AAEON, AR Systems, Fastcorp Vending, Global Vending Group, greenbox Robotics, Invenda, IVM, IVS, Retail Automated Concepts, SandenVendo, The-Venders, and Wemp. Together, the partnership will utilize blockchain technology into auto retailed market to simplify the access to age-gated products, improve user experience, and personalize rewards.
For users, the verification process will be simplified upon document scans such as a driver’s license to confirm age and identity. Furthermore, “knowledge-based authentication” – a step that requires users to answer private questions to prove the owner of the identity, will be integrated into the machines if the vendors prefer it, CoinDesk reported.
Vinny Lingham, CEO of Civic, told CoinDesk they are planning to use GUSD issued by Gemini in their app since users would pay in stablecoin to avoid the volatility of other cryptocurrencies. Participating merchants will also receive payouts in the stablecoin and have a much lower transaction fee.
The company aims to gain a foothold with tobacco, alcohol and hemp-related products in the automated retail sector in the near future. “With over 800,000 vending machines, we’re always looking for innovative concepts to introduce. The vending machine market is flourishing and being the first to adopt industry-changing technology is critical to providing the best user experience”, told by Lingham.
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