The iconic company that’s delivered ‘snail mail’ to Australians for more than 200 years, is now delivering Bitcoin to a new wave of investors.
Australia Post, through its ground breaking digital identity service, Digital iD, enables users to sign-up to Bitcoin exchanges within minutes. There are no awkward selfies with identity documents and no waiting days for verification.
Essentially, Australia Post has removed barriers to adoption that many cryptocurrency start-ups couldn’t.
Brisbane-based Bitcoin exchange, Digital Surge, is among the first adopters of the Digital iD platform.
Josh Lehman, the Director of Digital Surge, says the technology allows customers to be signed up faster than ever before.
“Digital iD allows us to verify the identity of a prospective Bitcoin buyer in minutes,
instead of the days it takes other exchanges,” Mr Lehman said.
“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.”
The General Manager of Australia Post’s Digital iD, Cameron Gough, says the technology
solves many problems.
“Digital iD, gives people more control over the personal data they share with organisations,” Mr Gough said.
“For example, most people hand over their driver’s licence to prove they can legally go to a
bar, but all that is needed is a name and birth date – not that information plus your full
Digital iD, which is also working with Australian companies Coinjar and Coin Loft, could bring confidence to potential investors, who were previously reluctant to undergo questionable verification processes.
About Digital Surge:
Digital Surge was founded by young tech-entrepreneurs Josh Lehman, 30, and Dan Rutter, 39, in 2017.
The exchange aims to make the process of buying Bitcoin simpler and cheaper, by offering a no-frills platform.
Users can also pay bills using their cryptocurrency directly from Digital Surge.
Mr Lehman, an IT specialist, says he first heard about Bitcoin in 2011, and started ‘mining’ the cryptocurrency.
Unfortunately, he sold most of his Bitcoin for less than $10 in 2012, only to watch the price
soar above $1,000 in 2013.
“That attracted my interest in it again and I started looking at ways I can use the technology,” he said.
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 Surge was officially launched in July of this year, with trading volume and user activity now growing quickly.
About Australia Post Digital iD
Developed in 2017, Digital iD makes online verification easy. It’s a secure, safe and simple way to prove who you are without having to continuously use your identity documents.