Photo credit: The Meta
You may have seen this vending machine before in Dubai, but here’s an in-depth look at just how one of these Gold-to-Go ATM contraptions actually work. The concept was developed by Thomas Geissler, who has previously created an online platform for trading precious metals. He stated that his initial inspiration was observing the “seemingly endless” line of traditional toiletries vending machines at airports and train stations, and during his search for advertising models for an online marketplace. Continue reading for a video and more information.
The vending machines are covered in gold leaf, and includes a touch screen, cash and credit card slots, and a lighted display showcase. Users must scan identification for purchases exceeding 100 Euro, and any single user may only access the system three times in one day before an enforced 48 hour break to prevent money laundering. The machines are fitted “like an armored vehicle” and tested with explosives to prevent theft, and include surveillance cameras that record all transactions.
