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. “Bitcoin has been around for about two years now, but it still hasn’t really taken off as an investment asset because it’s not easy to buy and sell it,” said Ben Bernanke, chairman of
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.