5 Ways that Blockchain is Bringing Vending Machines into the Modern Age
Vending machines around the world, while convenient as quick self-service tools, currently lack human oversight. This means that they are limited to offering only products that have no restrictions while keeping out industries like alcohol, tobacco, adult recreational substances, prescription medications, among others.
What if we could take this quick service and convenience, and retrofit it for contemporary times? Imagine you could stand in shorter lines or no lines at all at concert halls, event venues, big outdoor festivals, and get your drinks faster than ever with just your smartphone. This is now a possibility.
Cue the blockchain revolution. With nothing more than a smartphone app, blockchain ushers a whole new world of possibilities for businesses.
Distributed ID storage. Blockchain protects the privacy and security of your business. Since you don’t need to collect or store customer personal information, you don’t have to worry about identity theft. User identity is encrypted and stored from the user’s phone so the user has full control over when and where that data is shared.
Increased accuracy. Everyone has that friend from college who used a fake ID to get into clubs or buy drinks. While bouncers are trained to detect these, they are nonetheless fallible human beings. Blockchain, on the other hand, ensures complete accuracy and won’t struggle to read a foreign passport.
Faster ID checks. With blockchain-based updates, consumers only need a phone and internet connection to verify their identities when purchasing age-restricted goods. This cuts down the wait time for ID checks, as buyers won’t get stuck behind someone fumbling through their bag in search of the right document.
Lower costs. Whether you’re paying wages to a human laborer or maintenance fees for software, verifying your customers can get pricey. And that’s not counting the time it takes to train employees or install software.
A wider variety of goods. As of now, vending machines can only dispense items that can be sold without identify verification. That prohibits a whole world of items from alcoholic beverages to prescription drugs and beyond from being part of this automation. By enabling machines to verify identity on their own, we’re opening up the possibilities.
The pace of modern-day life is only picking up. So, it only makes sense to evolve these convenience-centric machines with today’s latest technology, enabling them to vend more products to more people around the world.