Civic, Rentality Verify Licenses and Age Onchain, Setting New Standard for Car Rental Security

San Francisco, California, September 19th, 2024, Chainwire

The Civic ID Verification Pass provides real-world benefits to users who can verify their identity and age quickly and rent a car directly from a car owner, without intermediaries

Civic, a leader in tokenized identity on the verifiable web, joins forces with Rentality, the first web3 car rental platform, to securely and efficiently verify drivers’ licenses and enforce age minimums on the Base network. This advanced verification process using blockchain introduces a new standard for security and compliance in car rentals, and peer-to-peer marketplaces.

Through the Civic ID Verification Pass, Rentality users can verify their driver’s license virtually to rent a car. This technology reduces friction, enhances trust between both parties, and removes the logistical burdens of physical verification.

“For car rental and peer-to-peer businesses to reach the greatest number of users while ensuring safety, there is a need for reliable and compliant verification processes that do not unduly inconvenience users. With the Civic ID Verification Pass, users can verify their identity without publicly revealing sensitive information and providers can comply with know-your-customer (KYC) requirements”, said Chris Hart, CEO of Civic. “By working together, Civic and Rentality encourage the safety of drivers and cars belonging to owners in line with regulatory requirements without needing in-person verification.”According to the team, the growing need for real-world benefits for users has been a major theme of focus in the crypto industry, which has been in infrastructure development mode. In an economy that now increasingly prefers renting to owning, this integration exemplifies how tokenized identity can create secure, compliant, and user-friendly verification solutions that meet the needs of everyday users and digital-first businesses.

"The integration of blockchain with car rentals is not just a vision of the future, it's a reality today in Miami and later in the rest of the States. Now you can rent a car directly from your smartphone or laptop using your crypto wallet," said Oleksandr Tatura, CEO of Rentality. "We're proud to partner with Civic, a company that is at the forefront of adopting innovative technologies."Conventional car rental processes typically require multiple intermediaries, from payment processors to insurance companies. This raises the price of car rentals significantly, as every middleman incurs a charge. With the use of blockchain, Rentality streamlines these processes by providing a decentralized marketplace for car renters and owners to transact directly.

To rent a car through Rentality, users simply need to connect their wallet, register for an account, choose their preferred car, location, and confirm prices. Then, they can verify their driver’s license by obtaining a Civic ID Verification Pass, which is a non-transferable token that is retained in their wallet. Civic ID Verification Pass is already integrated into the Rentality sign-up process and can be obtained with a selfie video and scan of their driver’s license.

Users can pay with various cryptocurrencies. Rentality is already operating in Miami and will soon expand to other regions. Users can visit rentality.xyz to rent or lease their car.

About Civic Technologies

Civic is a leading provider of identity management tools for web3, empowering people to easily and privately manage their identities across chains with an on-chain representation of their reusable identity. The company’s flagship product, Civic Pass, is an integrated permissioning tool that helps business customers enable secure access to their on-chain assets. Users may also manage their identity, presence and reputation with a dashboard. Civic aims to be the most trusted on-chain identity tool in the world, used by billions every day. Civic was co-founded in 2015 by Vinny Lingham and Jonathan Smith.

About Rentality.xyz

Rentality is pioneering the car rental industry as the first Web3 car rental platform. Their platform offers a seamless, transparent, and cost-effective solution for car rentals, utilizing blockchain technology. Rentality integrates a unique bonus system, their own token, and NFTs tied to real-world vehicles. These vehicles will be available for rent on Rentality's platform, enabling NFT owners to potentially earn from rentals. The platform has already launched in Miami and is rapidly expanding, with leading hosts in the region joining us. They aim to extend their services across all states, providing a comprehensive and innovative solution for both renters and hosts. And that's just the beginning of what they offer.

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This article was originally published on Chainwire

Source: Investing.com