Eftpos Disclosed Initiatives to Utilize Blockchain For Operating Australian Smart Cities

By Emily Rys | May 1, 2021

Australian top-tier point-of-sale tech provider Eftpos Australia reportedly disclosed details of ambitious initiatives for featuring blockchain-based autonomous vehicles and smart cities, employing Hedera’s Hashgraph for designing. 

Specifically, Robert Allen, deputy chair of Blockchain Australia and Eftpos’ entrepreneur in residence, reportedly revealed the company’s plans to utilize distributed ledger tech as a tool to create advanced infrastructure and 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.”

Eftpos chief investment officer Ben Tabell reportedly mentioned the significant nature of the company’s DLT project, in collaboration with Hedera, emphasizing its attempts to establish a combination of both digital identity and payments methods in the nation. 

“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” He reportedly remarked. 

Eftpos Australia initially revealed specifics regarding a proof-of-concept for an Australian stable coin utilizing Hedera’s Hashgraph in July last year. 

While the trial phase primarily dealt with micropayments, nominally real-time payments for streaming, and pay-per-click content, Allen noted the pilot formed the foundation for additional ambitious projects in the future. 

“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.”

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