The Australian National Disability Insurance Scheme (NDIS) may soon be using blockchain technology. The country’s federal government is currently testing the blockchain application in a trial called “Making Money Smart“.
The trial is developed by the Commonwealth Scientific and Industrial Research Organization (CSIRO) and the Commonwealth Bank of Australia (CBA).
The aim of the trial is to “enhance the experience of participants and service providers in the NDIS through the creation of ‘smart money’”
By setting certain conditions, the “smart money” knows how it can be spent, by whom and on what. The NDIS was selected for the proof-of-concept’s case study due to the highly personalised payment conditions.
“This has been a really interesting research project into how blockchain technology can integrate with new payments technologies to provide more choice, control and flexibility for conditional payments for NDIS participants and service providers,” – Dr Mark Staples, Senior Principal Researcher in the Software and Computational Systems program at CSIRO’s Data61.
The prototype will allow to dramatically cut down on paperwork and help citizens “find, book and pay for services”.
We’re excited to see yet another great example of real-world blockchain application.
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