Australia Post is fueling the Bitcoin and crypto adoption in the country through its digital identity service, Digital iD. With Bitcoin and crypto exchanges like Digital Surge, Coinjar, and CoinLoft leveraging this solution, it can instill confidence among the potential investors.
Australia Post enabling sign-up to crypto exchanges within minutes
Australia Post, the company that has been delivering parcel and letters to over 11.7 million addresses in Australia for over 200 years is making it easier to get Bitcoin.
The Australian company with over 12 million visitors (as per the SimilarWeb data) will enable the users to sign-up to Bitcoin exchanges within minutes through its digital identity service, Digital iD. This eliminates the need to wait for days in order to get the verification done, removing a barrier to crypto adoption.
Digital Surge, a Brisbane-based Bitcoin exchange, is among the first adopters of this platform as the technology will allow customers to be signed up faster than ever.
The local media channel quoted Josh Lehman, the Director of Digital Surge as saying:
“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.”
With an aim to make the buying Bitcoin simpler and cheaper, Digital Surge also allows users to pay their bills by using cryptocurrencies directly from the platform.
Lehman, first heard about Bitcoin in 2011 and started mining it, only to sell most of his Bitcoin in 2012 for less than $10. So, Lehman joined the crypto space by officially launching an exchange in July, this year,
“That attracted my interest in it again and I started looking at ways I can use the technology. I was working on the exchange part-time as a technology project, but in mid-2017 I decided to take it seriously and start a business. At that point in time, I recruited Dan to the project for his skills and business experience.”
Digital iD is already working with other Australian crypto companies viz. Coinjar, a crypto exchange, and CoinLoft, a platform to buy Bitcoin and other cryptos. This will further instill confidence among potential investors.
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.