Australia Post’s digital identity service, Digital iD, is helping to drive bitcoin adoption by significantly speeding up the process of registering with a crypto exchange. The system allows prospective buyers to simply log on to a computer and input their driver’s licence or passport details, and exchanges can verify their identity in minutes, transforming a process that previously took 2012. Digital iD also gives users greater control over how much personal information they pass on to companies, as there is no requirement to share entire documents.
Australia Post’s digital identity service, Digital iD, is helping to drive bitcoin adoption by significantly speeding up the process of registering with a crypto exchange. The system allows prospective buyers to simply log on to a computer and input their driver’s licence or passport details, and exchanges can verify their identity in minutes, transforming a process that previously took days. Digital iD also gives users greater control over how much personal information they pass on to companies, as there is no requirement to share entire documents.