EFTPOS Australia To Run Hedera Hashgraph Node

EFTPOS is primed to join the Hedera Governing Council following tests that were run in order to determine the feasibility of a digital AUD for micropayment purposes.

EFTPOS is known for its financial services that include the mobile wallet Beem It – and also runs lesser-known services such as digital identity checks for joining public and private networks, as well as a national QR code payment system.

Local Node To Be Up And Running Within The Year

Hedera Hashgraph is a highly scalable enterprise-grade distributed ledger that is already helping Australia by ensuring the quality of Aussie agriculture.

Hedera is run by a number of leading tech companies worldwide – with their Governing Council including high-profile firms such as WIPRO, Avery Dennisson, DLA Piper, Boeing, Google, LG Electronics and IBM.

Following EFTPOS Australia’s joining of the council, it will establish it’s own Hedera node as proof of commitment to Hedera’s global project.

According to Stephen Benton – the CEO of Eftpos – the Hedera endeavour may open up Australian businesses to new, secure ways of running their affairs.

“By joining the Hedera Governing Council and running the Australian node, alongside some of the world’s largest and most influential companies, we are excited to participate in the development of next-generation micropayments technology that has the potential to open up entirely new ways of conducting business for Australian enterprises and enable compelling new experiences for Australian consumers.”

The Australian side of the project will see the new eftpos API infrastructure connected to an AUD-based stablecoin.

The stablecoin side of the project was led by Robert Allen, an EFTPOS’ entrepreneur.

“Use cases like this simply are not possible on other public blockchains. Along with several partners, we are now exploring a variety of use cases that this combination of technologies enables and the options to commercialise them.”

Although rather secretive, the above statement seems to indicate that the project will be expanding – and coupled with the RBA’s own research into a digital AUD, more widespread use of the digital CBDC may not be too far off.