Data61, the IT innovation wing of Australia’s federal science agency CSIRO, is working on a blockchain-based payment system that will be able to control how disability allowances are spent. The project is in conjunction with the Commonwealth Bank of Australia (CBA) and the National Disability Insurance Scheme (NDIS).
The trial, called
Making Money Smart, is testing the potential for ‘smart money’ to improve the experience of users and service providers.
‘Smart money’ is a form of digital currency that has pre-existing conditions which can dictate when, where and on what it is spent.
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