Welcome to the Council, Eftpos!
Australia’s own Eftpos has just signed its VIP membership card to the Hedera Governing Council, becoming the 17th member in a star-studded lineup including tech giants like Google and IBM. And hold your horses—Eftpos isn’t just a member; it’s stepping up as the first network node operator in Australia. Talk about a golden ticket!
What on Earth is EFTPOS?
Before we get lost in all this tech jargon, let’s break down EFTPOS. It stands for Electronic Funds Transfer at Point of Sale. This nifty payment technology has become a go-to around the globe, but in Australia and New Zealand, it’s also the brand name for their specific payments system. It’s so iconic that it deserves its own fan club.
Disruption Ahead: Eftpos’s Vision
CEO Stephen Benton is bubbling with excitement about the future collaboration with Hedera, viewing it as a cornerstone of Eftpos’s digital payments innovation. He’s chomping at the bit for potential crypto-powered micropayments to shake things up in Australia’s economy. As he puts it:
“We are excited to participate in the development of next-generation micropayments technology…”
He’s envisioning a world where ordinary Australians can enjoy next-level shopping experiences, powered by digital coins and technology that’s faster than your local barista on a caffeine high.
The Proof is in the Pudding
Last year, Eftpos and Hedera flexed their muscles and conducted a proof-of-concept on micropayments, showing off their skills with frictionless sub-cent transactions. Using Eftpos’s API and Hedera’s Australian dollar stablecoin, they successfully demonstrated just how slick payments can be. Eftpos’s Entrepreneur in Residence, Rob Allen, chimed in:
“…the PoC’s objective was demonstrably achieved.”
Now, they’re not just patting themselves on the back—Eftpos and Hedera are actively exploring a range of innovative use cases that this tech duo can deliver. It’s like a treasure map, and they’re hunting for hidden gold!
Big Player Predictions
Mance Harmon, co-founder and CEO of Hedera Hashgraph, is also betting big on this collaboration. He foresees a future where micropayments and revolutionary financial models become everyday realities for millions of Australians and their gadgets. Can you imagine a world where your fridge automatically orders milk? It might not be far off!
A Growing Presence
This is just one step on Hedera’s Australian adventure. The company has already made waves with a government-backed supply chain traceability platform that launched back in September 2020. It seems like Hedera is on a mission to make Australia a global tech hub!
