Australia optimizes social payments using blockchain

Blockchain technology can improve the work of government agencies and government agencies. Australia plans to introduce blockchain technology into its social security payment system. This will happen in 2019.

At a conference in Sydney last week, Digital Transformation Authority (DTA) chief executive Randal Bruge said: "We are looking at applications of blockchain technology, particularly to streamline social security payments. We will conduct user research and have a working version in place by the end of the next financial year."

DTA was created in 2015 to promote digitalization and the use of new technologies in government agencies. According to local newspaper ZDNet, the DTA has been allocated US$527,000 to explore various solutions based on distributed ledger technology. The agency believes that moving social security payments to blockchain will provide transparent transactions, instant payment processing and control over the movement of money.

“The potential of blockchain for securely recording transactions will be explored, drawing on the experience of other public and private organizations. We will also build on the work done by the government, namely CSIRO, on the implementation of distributed ledgers,” explained Mr Bruge. 

Australian Prime Minister Malcolm Turnbull is leading the initiative to launch this project. It was he who instructed the DTA to begin exploring the potential use of innovative technologies.

Many government agencies would like to use blockchain technology, thanks to which information can be processed as quickly and accurately as possible, the number of bureaucratic documents can be reduced, and overall operational efficiency can be increased. 

According to https://ethereumworldnews.com