Eftpos reveals plans to power Australian smart cities with blockchain tech

Australia’s main point-of-sale expertise supplier Eftpos Australia has revealed formidable plans to roll out blockchain-powered autonomous automobiles and good cities in Australia constructed utilizing Hedera’s Hashgraph.

Talking on Tuesday as a part of the Australian Blockchain Week, Robert Allen, deputy chair of Blockchain Australia and Eftpos’ entrepreneur in residence, mentioned the agency’s intention to make use of distributed ledger expertise for superior infrastructure, amongst different purposes:

“We will be good cities. […] We will be autonomous automobiles and issues that we have not even thought of but. All of this wants new infrastructure, and Eftpos must be knowledgeable by that.”

Eftpos chief funding officer Ben Tabell famous the importance of the agency’s DLT initiatives in partnership with Hedera, highlighting the corporations’ efforts to mix digital id and funds options in Australia.

“It is a massive a part of our work and energy for the time being to herald digital id and transactions in order that we are able to securely assist funds and different transaction golf equipment within the Australian digital ecosystem,” he mentioned.

Eftpos Australia first introduced a proof-of-concept for an Australian stablecoin utilizing Hedera’s Hashgraph in July 2020. Whereas the pilot targeted on micropayments, corresponding to real-time funds for streaming and pay-per-click content material, Allen famous the trial laid the groundwork for extra formidable initiatives:

“Hedera is the one next-generation community that can assist these sorts of use circumstances. So, we wished to check it, and it has operated superbly. […] Now, as a result of we have all this digital technique, we’re ready the place we are able to begin ways in which issues could be solved in a means which is perhaps nontraditional and extra distributed.”

In January, Eftpos turned Hedera’s seventeenth governing council member and Australia’s first Hedera node operator.

Hedera has been increasing its governing council lately, with Shinhan Financial institution becoming a member of earlier this month, French utility big Electricite de France onboarding in March, and Commonplace Financial institution Group turning into the community’s first African node operator in February.