Civic Taps Vending Machine Market With These New Partnerships, Raises 20% in Under 24 Hours

Civic (CVC), the blockchain-powered identity protection and management startup, are expanding the Civic Network into the automated retail industry (vending machines). The soon-to-be-released Civic Pay app will enable users to verify their identity, make payments, and reap rewards in a single transaction.

Announced in a Civic blog post on April 23, the startup has partnered with 12 companies at the forefront of the automated retail industry that will integrate this solution.

Image Source: https://www.civic.com/blog/civic-network-expands-with-app-and-partners/

According to the post, there are over 3 million connected vending machines across the globe, and this number is expected to grow to 5.4 million by 2022.

Adding to this, Civic stated that their partnered companies represent over 1 million of these connected vending machines:

“Together, these companies represent over one million connected vending machines. Combining identity with payment will further advance Civic partners’ automated retail solutions and expand vending opportunities for a growing market.”

Civic’s Identity Use Case for the Automated Retail Industry

It’s no secret that our society is becoming more and more automated with new technology. However, in order to make this automation viable by ensuring no laws are broken when selling certain products, the machines must be able to verify one’s identity.

For example, vending machines that offer alcoholic beverages or hemp-related products would require buyers to verify their identities to ensure that they meet age restrictions. Identity verification could also be utilized for buying products requiring prescriptions, such as pharmaceuticals.

With the upcoming Civic Pay app, users will be able to verify their identities when making such purchases, which opens up the possibilities for an entirely new vending machine industry.

To demonstrate this use case and the Civic Pay app, Civic will be present at the National Automatic Merchandising Association’s NAMA Show in Las Vegas from April 24 to April 26, where they will demonstrate the process on various vending machines.

Conclusion

Vinny Lingham, co-founder and CEO of Civic, explained that the first step to making digital identity attainable is to make it accessible for the everyday consumer.

Adding to this, he said:

“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.”

Agreeing with Lingham’s vision, Mike Weiser, CEO and President of SandenVendo – a large retailer of cold beverage vending machines – says Civic is a perfect fit for their vending fleet, adding:

“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.”

Will the integration of Civic’s blockchain-powered identity management system into the vending machine industry result in mass adoption of the Civic (CVC) cryptocurrency? Do you think Civic’s crypto token is necessary for this? Let us know what you think in the comment section below.

1 Comment

  • Cryptoweb
    Posted April 25, 2019 8:49 am 0Likes

    What Vinny said in the publication that they are going to use stablecoin in the civic payment app so what is the use of civic coin then ? Anybody can comment on this ?

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