It has been reported that Robert Allen, the Deputy Chair of Blockchain Australia and Eftpos’ Entrepreneur in Residence, discussed the firm’s intention to use distributed ledger technology (DLT) for advanced infrastructure, among other applications.
“We’re going to be looking at smart cities. […] We’re going to be looking at autonomous vehicles and things that we haven’t even thought about yet. All of this needs new infrastructure, and Eftpos needs to be informed by that.”
Ben Tabell, the Chief Investment Officer of Eftpos, said that the significance of the firm’s DLT initiatives in partnership with Hedera by highlighting the firms’ efforts to combine digital identity and payments solutions in Australia.
“This is a big part of our work and effort at the moment to bring in digital identity and transactions so that we can securely support payments and other transaction clubs in the Australian digital ecosystem.”
However, Eftpos first announced a proof-of-concept for an Australian stablecoin using Hedera’s Hashgraph in July 2020. While the pilot focused on micropayments, such as real-time payments for streaming and pay-per-click content, Allen noted the trial laid the groundwork for more ambitious initiatives.
A leading technology provider in Australia has wildly ambitious plans. It wants to roll out autonomous vehicles and smart cities powered by Hedera’s Hashgraph. https://t.co/6QXQ1f2aos — Cointelegraph (@Cointelegraph) April 20, 2021
“Hedera is the only next-generation network that will support those kinds of use cases. So, we wanted to test it, and it has operated beautifully. […] Now, because we’ve got all this digital strategy, we are in a position where we can start looking at ways that problems can be solved in a way which is maybe nontraditional and more distributed.”
Thus, in January, Eftpos became Hedera’s 17th governing council member and Australia’s first Hedera node operator.