CasperLabs, a leading enterprise blockchain services company, and Civic have partnered to launch Civic Pass on the Casper blockchain, allowing dApps built on Casper to meet their KYC requirements. One of the first projects to benefit from this partnership is Metacask, a premier marketplace leveraging blockchain and NFT technology to modernize high-end whisky sales.
Metacask has transformed the sale and ownership of whisky casks by delivering transparency in their provenance, possession, and valuation by issuing NFTs to serve as a digital title of deed. The platform, built on the Casper blockchain, is the world’s first NFT marketplace for whisky cask trading and boasts significant operational efficiencies over the prevailing manual processes for whisky sales.
Adapt with an eye toward the future
As dApps consider the integration and deployment of mechanisms to help them meet regulatory requirements, the need for easily integrated permissioned solutions will continue to increase. Civic has been leading the charge in providing permissioning solutions to projects that understand the importance of being well prepared for coming regulations in the crypto space.
Metacask will use the identity and age verification processes provided by Civic Pass as an input to its compliance program. The marketplace uses Civic Pass to establish which participants meet their requirements for verification. Once the user has completed the Civic Pass screening process, Metacask’s smart contracts will use the results of the screening to allow users to participate within the decentralized marketplace.
Metacask selected CasperLabs as its blockchain partner because of its enterprise scalability, superior performance and security compared favorably against traditional alternatives. Casper’s proof-of-stake (PoS) model especially, has proven to be exceptionally energy efficient, with its annual electricity requirements chalking up to a fraction of the excessive usage required by other enterprise-level decentralized networks. Sustainability at scale is a huge innovation to the world of traditional supply chain ledgers and tokenized assets, and Metacask was quick to recognize this.
Bridging the gap and opening doors
CasperLabs, Civic, and Metacask are helping to bring awareness of the need for permissioning into the crypto industry and show other ecosystem participants how effortlessly these solutions can be integrated into their digital business models.
And, as additional development teams working on the Casper Network see real-world use cases for Civic Pass, like Metacask’s approach to digital whisky ownership, we’ll see more great ideas come to fruition that help grow our industry in exciting new ways.
To own a whisky cask that utilizes Civic Pass, visit Metacask.