This was implemented in Estonia back in 1992. Congratz to northern neighbours
The system includes e-government, where all the paperwork can be done online. For example, you can see your entire health history including doctors comments. You can setup a company online in 3 hours. You can submit your taxes online. You can sign documents digitally and they are going to become legal.
As for the benefits? Hell, forget a bunch of bills and piles of paperwork. Everything is digital.