The Commonwealth Scientific and Industrial Research Organisation (CSIRO) and The Commonwealth Bank Australia have managed to prove a number of beneficial points in their testing of blockchain technology in the field of disability insurance.
Apart from the initial expected 'red tape' savings which as per their trial run showed to amount to well over a conservative estimate of over hundreds of millions of dollars annually, it also proved that by using blockchain technology in this field the potential abuse and outright fraud of 'the disability system' shall be reduced also, thus adding to the overall savings!
The test proved that blockchain technology can also be implemented into other public / governmental fields.
All in all, what test has debunked many of the theories and speculations put out there by various people in past, proving that blockchain technology is definitely a better option to what is currently in place when it comes to the public arena.
For the full story please read the original source of this absolutely fantastic news:
Australia’s Science Agency & Commonwealth Bank Trial Blockchain ‘Smart Money’
https://www.ccn.com/australias-science-agency-commonwealth-bank-trial-blockchain-smart-money/
(In case this link doesn't work on your browser here it is again, so that you can copy/paste it into your browsers address bar:
www.ccn.com/australias-science-agency-commonwealth-bank-trial-blockchain-smart-money/)
Love sharing the uplifting news out there and helping to make public the good that blockchain technology has to offer everyone!
Signing out for www.steemaustralia.org
Yours truly
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Posted from www.steemaustralia.org via SteemPress : http://www.steemaustralia.org/the-csiro-cba-test-trialed-another-blockchain/