Australia Post, Australia’s one of the oldest institutes, has declared that customers can now purchase BITCOIN on participating exchanges within minutes through its Digital ID service. As per the local news outlet Micky, Digital growth will be among the initial adopters of the Digital ID platform.
“Digital ID enable us to verify the ID of a potential Bitcoin purchaser in minutes, instead of number of days it takes other exchanges. Clearly, the procedure will enhance users’ access to the crypto market in Australia.”
Digital ID service of Australia Post store data on centralized servers. However, Cameron Gough, General Manager of Australia Post’s Digital ID, said that the system serves users more control on their personal information they share with organizations. Even though the solution is not picture-perfect, as the data is stored on the company’s centralized servers, users can buy Bitcoin in just minutes.
This project of Digital ID has emerged earlier this year after the beginning of development in 2016 with 13 participating organizations. This number has now grown to over 40, comprising Queensland Police, CUA, and Airtasker.
The procedure is quite simple. Customers need to provide once their national ID just like a driver license/passport, and then only make use of an application and QR codes on their smartphone. But eventually, Australia Post’s Digital ID service keep all information on their centralized servers, which definitely aren’t safe to cyber-attacks. The service let the users’ control personal data that are shared on the server.
However, this has not stopped Australians from purchasing Bitcoin because the total number of crypto holders has almost tripled since the starting of 2018. So, Australia Post, which serves 11.7 million addresses in the country based on the latest data, could invite some new buyers of Bitcoin.