Australia is proving that they are, arguably, one of the leading crypto-friendly countries out there. A system created by the country’s postal service is drastically streamlining the crypto exchange registration process.
Australia is definitely no stranger when it comes to blockchain adoption. From driver’s licenses to disability payments, the country is fully embracing the technology. Their interest in cryptocurrency is also quite positive, with platforms even available for residents to pay their bills.
Innovation Courtesy of the Australia Post Service
The next step, according to Micky, is to give potential crypto customers a simple way to sign up to exchanges and in doing so, open up the world of innovative disruptive technology to all. Ironically, this will be achieved via a very un-disruptive establishment – the Australia Post service.
The 200-year-old business created Digital iD. As the name suggests, it is a digital identity service that will allow its users to quickly sign up to a Bitcoin exchange. By cutting out actual identity documents, exchanges will be able to quickly verify customers and allow them to trade as soon as they’re vetted.
One such exchange, Digital Surge, is already making use of this revolutionary service and have only good things to say. The platform’s Director, Josh Lehman, elaborated:
Digital iD allows us to verify the identity of a prospective Bitcoin buyer in minutes, instead of the days it takes other exchanges. For the first time, an Australian can log on to a computer, punch in their driver’s licence or passport details, and be buying Bitcoin within minutes. We wanted to create an exchange that is safe, simple and quick to use, and Digital iD has enabled us to do that.
Helping with Data Privacy Concerns
However, it’s not just about making the exchange application easier for those involved. It also allows people to only give the information that is required in certain situations, nothing more. This is becoming increasingly important in an age where data privacy is a real concern. Cameron Gough, who is the General Manager of Digital iD, explained:
Digital iD gives people more control over the personal data they share with organisations. For example, most people hand over their driver’s licence to prove they can legally go to a bar, but all that is needed is a name and birth date – not that information plus your full residential address.
The platform is also working with Coinjar and Coin Loft, both of which are Australian-based exchanges.
Disruptive technology is all about simplicity and efficiency brought about by removing intermediaries and time-consuming processes. This is exactly what Digital iD seems to be doing. Since providing a necessary service two centuries ago, the Australian Post is showing that they can not only adapt with the times, but can also embrace it to provide a necessary solution to a major issue facing exchanges today.
Do you think that Digital iD could be setting a trend for other crypto-friendly countries? Let us know in the comments below!
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