Eftpos Australia, the nation’s main point-of-sale expertise supplier, has introduced a partnership with distributed ledger expertise (DLT) agency H
Eftpos Australia, the nation’s main point-of-sale expertise supplier, has introduced a partnership with distributed ledger expertise (DLT) agency Hedera to conduct a micropayments proof-of-concept utilizing an Australian greenback stablecoin.
Eftpos chief government Stephen Benton described the collaboration with Hedera as a part of a broader digital funds innovation technique meant to modernize Australia’s cost sector.
The pilot goals to display how micropayments can be utilized to supply progressive cost options, resembling “pay per web page content material or streaming companies on a pay-per-second foundation.”
The proof-of-concept will likely be powered by an Australian greenback stablecoin by means of Hedera’s consensus service.
Talking to Cointelegraph, Robert Allen, an ecex at Eftpos and the deputy chair of Blockchain Australia, described the proof-of-concept as a part of a diversification technique the agency has been creating “over the past yr or two.”
“Diversification for Eftpos means getting on the entrance foot when it comes to the longer term, it is about how innovation is flooding into the funds house, and the way we will keep one step forward of all of that,” Allen mentioned.
Allen mentioned that Eftpos sought to associate with Hedera a number of months in the past because of their “professionalism, enterprise-grade expertise, and rising governance council.”
“You possibly can’t actually argue in opposition to a governing council which can be really part-owners of an organization, [and] that features Google, FIS, Boeing, Tata, Deutsche Telekom and the record goes on,” he added.
DLT micropayments to disrupt economic system
Allen mentioned among the purposes that the funds agency envisages for its stablecoin-powered micropayments system sooner or later, emphasizing alternatives for “pay-per-view on a page-by-page foundation” and “getting behind paywalls and subscriptions.”
Trying ahead, Allen predicts Eftpos will discover “realtime cost for streaming of content material,” along with “subsidy funds [to consumers] for listening to or watching content material in real-time.”
Allen additionally means that exploring DLT-powered micropayments will place Etpos to answer improvements within the sphere of good cities, driverless vehicles, and different improvements within the enviornment of automation.