Tuesday March 02, 2021
Bitcoin (BTC) $49,544.00   Ether (ETH) $1,573.92
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Networks & Protocols

Australia’s national debit operator eftpos joins Hedera Governing Council

The addition of eftpos represents the first Australian member to join the most decentralized governance model for a public ledger, that will eventually include a total of 39 highly diversified enterprises and organizations reflecting several distinct industries and geographies...

Published by CryptoNinjas.net
01/27/2021
Australia’s national debit operator eftpos joins Hedera Governing Council

The Australian payments company, eftpos, which operates Australia’s national debit card processing infrastructure and mobile payments app Beem It, today announced it has joined the Hedera Governing Council and will run the country’s first Hedera network node this year.

Designed to be the most decentralized governance model for a public ledger, the Hedera Governing Council includes a group of highly diversified enterprises and organizations overseeing a global network of nodes that aims, among other things, to enable low-cost micropayments for a range of use cases such as the Internet of Things (IOT) and access to content streamed over the internet.

eftpos CEO, Stephen Benton, said eftpos joined the Council after a number of successful proofs of concept last year, and it aimed to enhance the company’s digital payments innovation strategy to better meet Australians’ payment needs into the future.

“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.

“For example, in a world of fast-paced technology change, low-cost micropayments to pay for internet content or tiny payments for device to device transactions.”

The eftpos digital strategy was devised with an Australian focus, creating world-class innovations to compete with global payments players. The digital strategy has five key elements:

  1. Mobile Wallets including Beem It
  2. eCommerce
  3. Digital identity, using connectID
  4. Fintech ecosystem access
  5. National QR code payments rollout

The initial objective of the micropayments proof of concepts, led by eftpos Entrepreneur in Residence, Rob Allen, was to investigate ways to create a seamless, sub-cent micropayments experience as an alternative to traditional online paywalls and subscriptions in the digital world.

“By combining the new eftpos API infrastructure with a consumer wallet-based experience, digital identity, and an AUD-based stablecoin using Hedera’s super-fast, secure, and low-cost distributed network, the PoC’s objective was demonstrably achieved,” Mr. Allen said. “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 commercialize them.

“Being on the Hedera Governing Council will provide us with the combined technical insight of all the Council members as well as a unique global perspective to improve our speed to market.”

Mance Harmon, CEO, and co-founder of Hedera Hashgraph, said, “As Australia’s debit card system operator, eftpos is a critical component of the country’s financial infrastructure, processing over 2 billion transactions in 2020 worth an average of more than $300 million each day. We are pleased that they have joined the Hedera Governing Council as part of their new Australia-first digital product strategy. We look forward to their collaboration with other Council members and participants of the Hedera ecosystem to help make micropayments and other innovative financial models a reality for millions of consumers and billions of IOT devices.”

As the 17th Council member, eftpos joins a growing network of large enterprises, including Avery Dennison, Boeing, Dentons, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group.

Members of the Hedera Governing Council are responsible for running the initial nodes of the Hedera network, as well as guiding both strategy and software development, over a maximum of two consecutive three-year terms. This contributes to stability and is conducive to maintaining diversity and decentralization of the public network. Hedera Hashgraph’s node policy and codebase are undergoing continuous updates, to which Council members will contribute, supporting a governance model that eliminates the risk of forks, provides safeguards for users, and preserves the integrity of the Hedera network.

FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Hedera Token Service (HTS) now live to offer native token issuance without smart contracts
Networks & Protocols

Hedera Token Service (HTS) now live to offer native token issuance without smart contracts

02/09/2021
SUKU supply chain as a service platform migrates from Ethereum to Hedera Hashgraph
Networks & Protocols

SUKU supply chain as a service platform migrates from Ethereum to Hedera Hashgraph

02/03/2021
The NHS Adopts Hedera Hashgraph for COVID-19 Vaccine Storage & Supply
Networks & Protocols

Everyware and Hedera Hashgraph enabling cold chain monitoring of COVID-19 vaccine for NHS

01/19/2021
Hedera to begin hackathon dedicated to building tokenization apps
dApps

Hedera to begin hackathon dedicated to building tokenization apps

01/14/2021
Hyland and Hedera Hashgraph present blockchain PoC for records verification to Texas Secretary of State
Vendor Technology

Hyland and Hedera Hashgraph present blockchain PoC for records verification to Texas Secretary of State

01/11/2021
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
Glow programming language brings smart contract simplicity to Cardano

Glow programming language brings smart contract simplicity to Cardano

02/26/2021
ZelaaPayAE deploys Pundi X's merchant crypto payment solutions for UAE

ZelaaPayAE deploys Pundi X’s merchant crypto payment solutions for UAE

02/24/2021
Komodo's AtomicDEX stress test proves success as a scalability solution

Komodo’s AtomicDEX proves success as a scalability solution with stress test complete

02/26/2021
Tendermint invests in Tgrade to bolster Cosmos' growing DeFi ecosystem

Tendermint invests in Tgrade to bolster Cosmos’ growing DeFi ecosystem

02/24/2021
Lido teams with Unslashed to cover $200M worth of staked ether against slashing risks

Lido teams with Unslashed to cover $200M worth of staked ether against slashing risks

02/25/2021
CasinoCoin to migrate to XRP Ledger amidst rebranding

CasinoCoin to migrate to XRP Ledger amidst rebranding

03/01/2021
Simplex's crypto on-ramp integrated into Opera web browser

Simplex’s crypto on-ramp integrated into Opera web browser

03/01/2021
Yield App launches new API with its first partner, hybrid liquidity aggregator Finxflo

Yield App launches new API with its first partner, hybrid liquidity aggregator Finxflo

03/01/2021
Horizen to integrate IOTA Oracles on its sidechain protocol Zendoo

Horizen to integrate IOTA Oracles on its sidechain protocol Zendoo

03/01/2021
Oracle solution Umbrella Network launches successful IDO on Polkastarter

Oracle solution Umbrella Network launches successful IDO on Polkastarter

03/01/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version