Imagine a vending machine that is hooked up to the blockchain and verifies the age of its customers before selling beer to them? San Francisco crypto startup, Civic teamed up with Anheuser-Busch InBev to create this blockchain beer vending machine.
The prototype of this vending machine which can query blockchain-based records to verify the customer’s age will be on display at Consensus 2018. The machine could also be easily adapted for bitcoin and other cryptocurrencies as Civic confirmed. So, visitors to the convention can stop and have a free beer from the machine to check out its ability.
Decentralized identity and KYC verification seem to be a huge market the vending machine is expected to be the beginning of what is to be expected from this market. Titus Capilnean explains, “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.
Civic demonstrates how blockchain technology will eventually enable age-restricted products to move into the production of blockchain vending machine market. Titus affirms, “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.”
Civic announced in June last year that it sold $33 million-worth of its CVC tokens to investors ahead of an initial coin offering (ICO) and currently the value of the network according to CoinMarketCap is $113 million. There is, however, one question that needs to be asked, how will the machine verify the identity if I use stolen identification?
What do you think about this beer vending machine? Share your opinion with us in the comments section below.
Image source: menshealth
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MoneyGram’s New Time Remittance Technology backed by Visa not Ripple
A new service introduced by remittance giant (MoneyGram) which allows users to send and receive money in real-time has been credited to visa and not the work of its blockchain-based partner (Ripple) in an announcement by representatives of the company.
The recently launched Fastsend, a new service which allows clients to send money in real-time to a phone number through a mobile application or dedicated website. While responding to enquiries from news sources about the latest concept, it was revealed to much surprise that MoneyGram did not make use of the technology of Ripple to achieve the latest product.
Do we need blockchain for real-time settlements?
MoneyGram Chief Operating Officer, Kamila Chytil informed news sources that FastSend makes use of Visa’s Direct Original Credit Transaction to send funds to bank accounts making use of Debit card deposit which is clearly not blockchain-backed or related.
Without the need for DLT, the dedicated website and app make use of an open-source cloud-based microservices. Chytil further stated that although Ripple is not involved in the new product, the firm still makes use of Ripple’s blockchain in other fields of the company.
Also, Chytil made mention of MoneyGram’s continuous effort on how to utilize blockchain in areas where it could assist to solve data privacy and regulatory obligations via distributed ledger technology. In her remarks, she spoke highly of DLT technology and cryptocurrencies, stating that the firm believes blockchain to be the future of global cross border payments and transfer of money.
As MoneyGram continues to research on the multiple use cases in order to tap into Ripple’s tools while integrating with the recent version of Ripple’s service suit to introduce cash-out service to all network members.
It is worth noting that Ripple is gaining increased support and approval among financial institutions to provide them with its DLT services in Africa with the National Bank of Egypt joining its network, this has been seen as a welcome development as it would do well for the inward remittance within the region the Ripple Network.
TRON to onboard Steemit as it sets to join TRON Ecosystem
TRON has announced a strategic partnership with the largest blockchain based social media platform Steemit to onboard its numerous Dapps and user base into the TRON Ecosystem.
The announcement which was made via a press release on TRON’s medium account revealed that both development teams of the two organizations will immediately begin working together to bring Steemit and other Steem blockchain based DApps to TRON blockchain and its community of over 20 million users, products, and services.
According to TRON, “the partnership continues the beat of TRON’s rhythm in partnering with top firms like Samsung, Poloniex, Opera, and DLive to provide a dynamic value proposition to its users, investors, and community members.’
Steemit is a decentralised blogging platform built on the Steem blockchain and having its own token. It allows users to easily reward publishers by upvoting their contents published.
The Steemit blockchain also houses several other Dapps such as DTube, APPICS etc which are designed to be censorship resistant. Built by Dan Larimer and Ned Scott, Steemit empowers anyone to create an account and earn crypto for published contents upon upvotes.
Speaking on the partnership, Justin Sun, CEO of TRON and Bittorent said “We are very excited to welcome Steemit into the TRON ecosystem, together we will usher in a new era of decentralized social networking.”
TRON disclosed it will work with Steemit Inc, to create further value for its users and to augment their advancements in decentralised technologies.
This will include migrating STEEM token to a new TRON based STEEM token and the creation of accelerator program for the developer community.
TRON believes this partnership further empowers its title as the blockchain industry’s leader in distributed ledger technology with over 800 Dapps now in its ecosystem.
CryptoTVPlus partners with Kubitx to Spread Crypto Awareness using Local Languages
Leading African based crypto-focused media organization, CryptoTVPlus has partnered with Blockchain solutions company, KuBitX, to spread education and awareness of cryptocurrency.
This partnership arises from the need to explore the vast untouched population in the African market. Education plays a significant role in the advancement of new technologies and utilizing local contents presents a very much effective way of achieving such goals.
The continent of Africa holds great promise in the world of digital assets; there are countless opportunities being explored and countless others to be explored in creating solutions to the large set of challenges which the continent faces.
While there are globally acceptable educational or awareness spreading techniques, there are special ways of reaching out to unique audiences; this is exactly what the drive is, in this partnership represents.
This partnership will see both organizations working together to create contents to educate and spread awareness of the digital asset revolution in both the Hausa and Pidgin local languages.
The Hausa and Pidgin speaking audience represents a vast combined segment of the local populace and it is expected this initiative will ensure the effective education of a large portion of the total population.
Speaking on the partnership, Tony Emeka, CEO of CryptoTVPlus commented saying “One of the challenges holding back the increasing awareness of digital assets and the underlying technology is proper and locally constructed educational programs that utilize relatable languages and analogies to express the WHAT, WHY and HOW of the digital asset technology. I believe with the convergence of our two organizations, there will be a new wave and rise in awareness in the local industry. ”
Launched in 2018, “KuBitX is one of the most advanced and robust cryptocurrency trading platforms designed in a very user-friendly manner to enable people from all regions and backgrounds get a stronghold of the ideas revolving around the Blockchain and the Cryptocurrency space. Contained within the KuBitX ecosystem are the KuBitX trade engines, the secure KuBitX wallets and an advanced Admin dashboard for regulating the activities within the Trade Exchange.” It is currently utilizing the Stellar blockchain owing to its remittance, cross border payment and regulatory compliance needs.
Justin Sun to launch Tron-based Decentralized stablecoin. Why should we care?
Founder of the Tron Blockchain, Justin Sun has hinted at plans to launch a stablecoin based on the Tron blockchain.
This was made via his Twitter account hours ago.
According to the tweet, the TRON community will launch a new decentralized stablecoin backed by the TRX and BTT token.
— Justin Sun (@justinsuntron) January 16, 2020
There was little information given by the tweet but Justin Sun posted a question to the entire community, and it is for the best name for the new stablecoin.
Stablecoins have grown in numbers since the eventual launch of US dollar backed Tether (USDT). Ever since then, various fiat currency pegged stablecoins have been made available on the market.
The stability of this cryptocurrency class has also pricked the interest of governments and private corporations, the decision of Facebook to launch Libra provides a testament to the global interest in stablecoins which does away with the apparent honeypot feature of non-stable cryptocurrencies such as bitcoin, ethereum and other non-stablecoins. Volatility.
Nations CBDC has also become a fascinating way to utilize the idea behind stablecoins. Several countries are experimenting and others such as China are already getting ready.
Justin Sun’s decision to launch a decentralized stablecoin may be a noble cause, but the optics of this decision may show a contrary view.
Tron and the founders Justin from its earliest time has been involved in certain controversies such as plagiarizing the White Paper of other projects and copying codes from Ethereum, has also been linked to pump and dump schemes most especially with the use of its wide audience to manipulate value of coins by tweeting mostly inconsequential pieces.
The new stablecoin will be decentralized according to Justin Sun. While the decentralization is not absolute, complete decentralisation is a myth and it has been a much discussed topic in the space. It therefore begs a very important question, since it’s claimed to be decentralized, who will be the horses pulling the chariot.
With many stablecoins in the market, one would wonder why launch a new one, there are mostly two options on ground, it’s either the stablecoin markets offer very juicy returns that the Tron blockchain will benefit from the volume as the ‘horses’ also does, or Justin Sun has ran out of ideas.
For the community’s sake, let it be the first.
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