"MAKING MONEY SMART" - Disability Insurance in Australia via Blockchain!

in #australia • 6 years ago


Here it is, another project that Australia is getting up and running using blockchain technology.

The Commonwealth Scientific and Industrial Research Organization (CSIRO) and it's partner in this project the Commonwealth Bank announced that the two are testing the proof-of-concept as part of a blockchain project dubbed "Making Money Smart."

The goal is to introduce smart contracts to the Australias National Disability Insurance Scheme (NDIS) so that all parties involved can execute payments based on pre-defined conditions.

IMO This sounds too logical to be true!

For a full read on this feel free to check out the full announcement at:

'Smart Money' trial explores potential for blockchain


(https://www.csiro.au/en/News/News-releases/2018/Smart-Money-trial-explores-potential-for-blockchain)

 

This news is definitely something that proves how blockchain technology can be utilized in all our everyday lives for much more than what was presumed. In fact after this proof of concept is confirmed, there is no telling what "red tape" nightmares of the past shall become straight forwards and simple in future thanks to the incorporation of blockchain technology!

 

 

Posted by: @jackmiller (Steem Witness)

Posted from www.steemaustralia.org via SteemPress : http://www.steemaustralia.org/making-money-smart-disability-insurance-in-australia-via-blockchain/

#cba #csiro #insurance #redtape
6 years ago in #australia by
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