Eftpos unveils plans to power Australian smart cities with blockchain technology

Australia’s leading point of sale technology provider, Eftpos Australia, has unveiled ambitious plans to roll out blockchain-powered autonomous vehicles and smart cities in Australia built with Hedera’s Hashgraph.

Speaking on April 20 as part of Australian Blockchain Week, Deputy Chairman of Blockchain Australia and Eftpos’ resident entrepreneur Robert Allen discussed the company’s intention to use distributed ledger technology for advanced infrastructure, among other applications:

“We are going to look at smart cities […] We’re going to look at autonomous vehicles and things we haven’t even thought about yet. All of this requires a new infrastructure and Eftpos must be informed about this. “

Ben Tabell, Eftpos chief investment officer, pointed out the importance of the company’s DLT initiatives in partnership with Hedera and highlighted the company’s efforts to combine digital identity and payment solutions in Australia.

“This is a huge part of our work and efforts at this time to bring in digital identity and transactions so that we can securely support payments and other transaction clubs in the Australian digital ecosystem,” he said.

Eftpos Australia 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 streaming payments and pay-per-click content, Allen noted note that the trial provides the basis for more ambitious initiatives:

“Hadera is the only next-generation network to support these types of use cases. So we wanted to test it, and it worked beautifully […] Because we already have this digital strategy, we are in a position to start looking at ways to solve problems in ways that may be non-traditional and more widespread. “

In January, Eftpos became the 17th board member of Hedera and the first operator of Hedera nodes in Australia.

Hedera recently expanded its board of directors, with Shinhan Bank joining earlier this month, French energy giant Électricité de France joining in March and Standard Bank Group becoming the network’s first African node operator in February.