Blockchain Welfare Payments to be launched in Australia

The plans of the blockchain technology adoption for social security welfare payments has been displayed by the Australian government’s digitization agency
22 May 2018   448

Randall Brugeaud, the Digital Transformation Agency (DTA) head executive pointed out welfare payment delivery as an early use case for its blockchain implementation effort at a conference in Sydney last week. The DTA was instituted in 2015, part of the government’s broad digitization agenda that tasks the agency to envolve other government structures and help them undergo digitization.

Our plan is to look for use cases across the Commonwealth with an initial focus on the welfare payment delivery system, then working with our digital service standard, we’ll conduct user research a view of having a prototype by the end of the next financial years. The potential of blockchain to securely record transactions will be investigated, drawing on the experience of other public and private sector organizations.
Randall Brugeaud
Chief Executive, Digital Transformation Agency

There are substantial merits of delivering social security welfare to citizens over a blockchain including transparency, immutability and raise efficiency with automated payments. The effort is especially concentrated on payments from Centrelink, part of the Department of Health Services (DHS) that ‘delivers a range of payments and services for people at times of major change,’ as described by the Australian government. 

The initiative enters to light soon after the DTA was  earmarked AU$700,000 by the Australian government as a part of its 2018-19 budget to specifically research blockchain applications in government services.

Pure Bit to Refund Investors' Money

Another cryptocurrency scam storu may have happy ending
15 November 2018   70

The founders of the South Korean exchange Pure Bit, who were suspected of stealing investors' money, announced the return of funds.

According to the local edition of BlockchainROK, representatives of the exchange have already partially returned the money to some users and pledged to return all other funds.

On November 4, the exchange team launched the ICO with the goal of collecting about $ 30 million to create a crypto exchange. However, on November 9, Pure Bit closed the site, said goodbye to its investors and removed everyone from the group in the KakaoTalk messenger. Also, the founders of the exchange withdrew funds from the account that was used for ICO.

According to CCN, one of the issues traced the Ethereum address of the exchange and asked Upbit to block the account and freeze the funds. Upbit fulfilled this request.

This is Pure Bit. First off, I would like to apologize to everyone that was affected by the ICO. Since November 5, I raked in 16,000 ETH and did not open a crypto exchange as promised. I kicked out everyone in our social media chat groups and disappeared without any message. I negatively affected investors in the project psychologically and financially. I made an unforgivable mistake that cannot be turned around, blinded by money. It has been less than a day and I have already started to suffer from guilt. Although it cannot be compared with the hardship faced by the investors, I also felt significant guilt. I sincerely apologize to all of the investors in the ICO who were affected by the operation.

CEO of Pure Bit

The founder of Pure Bit also notified that he would return ETH 16,000 to depositors without taking into account the payment of services to a third-party company that organized ICO.