Now residents of Australia can buy cryptocurrencies through any post office. Australia Post helps its subscribers to register on local Bitcoin exchanges through the Digital iD service, and there is no need to upload selfies and pass verification. Buying BTC at the market price can be done literally in one click. Digital Surge director of the crypto exchange, Josh Lehman, commented that the new service speeds up the registration process, which often scares off potential users.
According to the local newspaper Micky, the Brisbane Cryptocurrency Exchange Digital Surge was one of the first to integrate the Digital iD system. The registration procedure in the Digital iD system is very simple. The client only needs to provide an identity card once, whether it’s a driver’s license or a passport. Further, all interactions occur on the smartphone or via QR codes. This is not comparable with the verification procedure on exchanges, which sometimes takes several days.
It was noted at Bitcoinist that Australia Post stores all personal data of Digital iD service clients on its centralized servers, which is not a very effective defense against cyber attacks. The postal service denies that users fully control their personal data for disclosure. It turns out, it is necessary to sacrifice confidentiality in exchange for convenience.
Digital iD can raise the level of trust among potential investors who previously did not want to disclose their personal data to questionable online services. Australia Post serves 11.7 million country addresses. Thus, it may well attract new buyers of Bitcoin, who prefer a government corporation to offshore exchanges.