A statement from Data61 said the trial had shown that smart money could be used to manage insurance payouts, budgeting and management of trusts and charities.
The trial was carried out using a prototype app with 10 participants in the National Disability Insurance Scheme.
Data61 said the prototype showed that administration costs could be cut, paperwork removed and the risk of fraud reduced by using a method such as the one tested.
“This has been an important research project for understanding the benefits and limitations of blockchain technology in the context of conditional payment environments, such as the NDIS,” Dr Mark Staples, senior principal researcher in the Software and Computational Systems program at CSIRO’s Data61, said.
“Our use of blockchain added new kinds of programmable behaviours to the smart money in the prototype system. This automation and flexibility could reduce friction and enable greater innovation in many payment environments and unlock network-effect benefits.
“This could include more directly connecting citizens to public policy programs, empowering people to optimise their spending through things like smart savings plans and smart diets, and reducing costs for businesses, including through the potential for self-taxing transactions.”