‘Smart Money’ Trial Explores the Potential for Blockchain
CSIRO’s Data61 and the Commonwealth Bank (CBA) have developed an app as part of a trial to explore the potential for blockchain technology to create ’smart money,’ through using the case study of the National Disability Insurance Scheme (NDIS), CSIRO announced in an October 9 press release.
As the foundation revealed exclusively to Coin Desk, the upcoming version two of Augur will include a number of improvements to the platform's inner-workings, which are meant to alleviate sources of l, confusion, extra cost and risk
According to Data61, the NDIS was targeted as the first case study for the proof-of-concept as “it involves highly personalized payment conditions.” The proof of concept has benefited from advice and feedback from government and industry leaders, and is currently undergoing user testing with NDIS participants and carers, the release explained.
"The end goal," said the foundation's operations lead Tom K "is always a better, faster, cheaper Augur
In addition, the foundation is working on changes to the Augur app's user interface. While arguably more cosmetic, users have been clamoring for these changes since late July, just a couple of weeks after launch
The post emphasized that the changes "will be tentative up until all the code is written and audited." Holders of Augur's REP token will need to migrate to a new smart contract if they want to upgrade. Joey Krug, Augur's co-founder, said that the two versions will be "separate universesIn the NDIS, participants have individualized plans that can contain multiple budget categories – each with different spending rules. The prototype app will support participants to manage their plan by enabling them to find, book and pay for services from NDIS service providers, eliminating the need for paperwork or receiptStaples also added that welfare systems aren’t the only place where such technology could be implemented. He noted in the press release that programmable currency could reduce friction and help firms to “create new business models and innovative ways of delivering and paying for products and services.”