Australia’s largest bank, Commonwealth Bank of Australia (CBA), along with Data61 — government run digital innovation center have released a programmable smart money app which uses a blockchain-enabled digital token to manage insurance payouts, budgeting and management for trusts and non-profit organizations. The system employs Proof of Concept & was trialed using 10 participants. Both the developing entities believe the App could save save 1–15 hours per week and 0.3–0.8 percent of annual revenue.