At the SXSW Conference on March 13, U.S.-based identity security startup Civic introduced three models for its crypto-denominated vending machines distributing local beverages, Shiner Bock and Austin Amber beer, since its demo as Consensus 2018.
Civic, whose co-founder is an entrepreneur and “Shark Tank South Africa” star Vinny Lingham in 2016, is a company that uses blockchain technology for identity security.
As soon as users of the Civic Pay app verify their identity, they can receive enough to purchase a cold beverage, which costs 200 CVC, or about $12. Every machine can check up on the buyers’ age and allow payments in cryptocurrency, via scanning a QR code, as easy as those in fiat.
According to Civic’s Director of Marketing Titus Capilnean, the $15,000 machines are making revenue of roughly 100,000 CVC per day, or $7,600, since they were opened for business last Sunday (March 10).
Capilnean revealed that quite a few companies have lined up for a contract with Civic to install the vending machines at sporting events and bars and so on, where alcohol distribution could use a “crypto” touch.
Compared to its version back in 2018, Civic has already added in mobile app payment as support to cryptocurrency. The units are now open for pre-order with approximately $1,000 each.