Eftpos announces plans to use blockchain technology to fuel Australian smart cities.

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During the Australian Blockchain Week meeting, Eftpos announced its intentions to use distributed ledger technologies to power smart cities and self-driving cars.

Eftpos Australia, Australia’s leading point-of-sale platform provider, has announced bold plans to carry out blockchain-powered autonomous vehicles and smart cities based on Hedera’s Hashgraph.

Robert Allen, deputy chair of Blockchain Australia and Eftpos’ entrepreneur in residence, spoke on Tuesday as part of Australian Blockchain Week about the firm’s plan to use distributed ledger technologies 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.”

Eftpos chief investment officer Ben Tabell emphasised the importance of the company’s DLT activities in collaboration with Hedera, emphasising the companies’ plans to integrate digital identification and payments technologies in Australia.

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“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 said.

In July 2020, Eftpos Australia revealed a proof-of-concept for an Australian stablecoin based on Hedera’s Hashgraph. Although the pilot concentrated on micropayments such as real-time streaming and pay-per-click video, Allen noted that the trial laid the foundations for more ambitious initiatives:

“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.”

Eftpos became Hedera’s 17th governing council member and Australia’s first Hedera node operator in January.

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Shinhan Bank joined Hedera’s governing council earlier this month, French utility giant Electricite de France joined in March, and Standard Bank Group became the network’s first African node operator in February.

 

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