CBA, Data61 claim success on NDIS payments blockchain trial
The use of highly targeted and controlled smart payments across Australia’s health and welfare sector has inched a step closer.
Data61 and the Commonwealth Bank claim to have successfully trialled an app that could make blockchain-based programmable money a reality for the National Disability Insurance Scheme (NDIS) payments.
The pair partnered last month to bring the prototype app to NDIS participants and service providers as a test case for the potential use of ‘smart money’ using blockchain technology.
‘Smart money’ allows for conditions to be attached to payments, making the NDIS’ use of highly personalised participant payment plans ripe for the first case study of the proof of concept.
The prototype app was expected to allow participants to find, book and pay for services from NDIS service providers without needing paperwork or using receipts, a major headache under the current system.
The results
Data61 and CBA have now revealed the results of the trial after testing the app with ten NDIS participants and carers, as well as a small number of disability service providers.
They said participants and carers estimated that the prototype app “could save them one hour to 15 hours per week”, averaging at three hours.
Service providers, on the other hand, “estimated potential annual cost savings as a percentage of revenue of 0.3 percent to 0.8 percent”.
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Source: CBA, Data61 claim success on NDIS payments blockchain trial – Strategy – Software – iTnews
