Awards such as FinTech Australia's Finnies are a testament to Australian innovation. Australia is often considered as a great test market. Despite the relatively small population compared to the USA or Europe, the high adoption of new technologies makes Australia a great market to test, validate and chart a pathways for solutions to take off globally.
Indeed, Australia is proudly home to a lot of innovative start-ups, which makes the start-up industry in particular worth considering. The synergy of technological shifts, market opportunities and a vigorously growing digital culture has developed several FinTech Unicorns.In October 2020, Meeco was the proud recipient of the FinTech Australia Finnie for Excellence in Industry Collaboration & Partnerships, for our push into Belgium and collaboration with KBC Bank. So we are more than thrilled to keep the momentum going when we received news that we are been shortlisted again this year.
We are proud to announce we made it to the finalists for FinTech Australia's Finnies 2021¹. This year, Meeco was nominated in the Excellence in Blockchain/Distributed Ledger category, for the development of our decentralised identity wallet. Contenders for the award this year include AgUnity, BOULEVARD Global, CommChain, Hutly, Oxen, Pellar Technology and RelayPay.
“Excellence in Blockchain/Distributed Ledger” finalist
Meeco's submission results from our work in collaboration with with eftpos and Hedera Hashgraph. The Australian payments giant eftpos recently announced joining the Hedera Governing Council after successfully conducting tests to determine the feasibility of a digital Australian dollar stablecoin for micropayments. Meeco plays an important part in this world-leading initiative as the wallet provider for the proof-of-technology.
“When we were running the eftpos micropayments PoC with Hedera Hashgraph, we needed a wallet partner. We had had great experience of working with Meeco on our connectID PoC and needed aspects of digital identity for the micropayments PoC too, so they were a natural fit.This enabled us to combine the provisioning of an eftpos debit card, identity credentials and a stable coin in one wallet. The PoC was very successful and resulted in a technical platform that demonstrates micropayment capability in a way that no other payments provider has. Our next phase is to look at ways to commercialise this capability.” Rob Allen, Entrepreneur in Residence, eftpos
Everything will be Tokenized
Earlier this month, Meeco was invited to share our vision of a tokenised work at an FSClub webinar hosted by Z/Yen's Chairman, Professor Michael Mainelli. Meeco's CEO and Founder, Katryna Dow delivered the presentation titled Everything Will Be Tokenized: The Future of Identity. Katryna shared some of the exiting things we have been working on along with where the tokenised world is heading.
“We're on track towards a world where everything can be tokenized. Tokenization plays a critical part in enabling more equitable value creation for people, organisations and things. Providing the means to issue and store value, trace provenance, and most importantly achieve consensus to instantly trust. In order for this tokenized world to emerge we will need the infrastructure for people and their digital twins to participate. This will include digital identity, verifiable credentials and payments."Katryna Dow, CEO & Founder, Meeco
Since 2012, Meeco has been pioneering the access, protection and value exchange of personal data and identity. Over the past year we have been working towards making much of this possible, and this webinar featured some of the use-cases and practical steps along the way, such as:
- Meeco’s wallet leveraging OpenID & W3C standards, designed to incentivise collaboration between stakeholders whilst maximising privacy
- eftpos Australia determining feasibility of a digital Australian dollar stablecoin for micropayments
- Hedera Hashgraph: the fast, fair, secure and stable Distributed Ledger Technology ensuring decentralised governance at scale.
Over the past year, we have been working in conjunction with Hedera to launch a multi-purpose wallet that will enable decentralised identity, verifiable credentials, micropayments and tokens. The wallet will be available as a white label solution, with SDK and supported by Meeco's Secure Value Exchange credential solution. We look forward to sharing more news soon along with updates to our developer portal.
In the meantime, the category winners for the FinTech Australia Finnies 2021 will be announced in-person this year on 21 July, 2021 at The Forum, Melbourne.
From all of us at Meeco, huge congratulations to all the finalists. 🙌👏🙌👏🙌👏
In closing, a very special thank you to Rob Allen at eftpos and Tim McHale at Hedera, for enabling us to stand on the shoulders of giants. It’s an honour to be counted in such great company, thank you! 🙏
¹ As this event has now passed, details of finalists are no longer available. To view an archived copy click here.