The Australia Post, the nation's delivery service, has began applying digital identification tech to endow digital currency exchanges to make KYC checks in just minutes.
In some cases, it takes days for cryptocurrency exchanges to confirm their client’s uploaded identity documents (docs) and pictures before allowing them to trade, due to AML and KYC laws in the nation. Nevertheless, by using
Australia Post’s “Digital iD” service Australian digital currency buyers can finish their registration exercises within minutes.
Users’ Identity Information
To that end, rather than having to share docs and individual details several times with various platforms, clients only have to register one time with Australia Post’s Digital iD, and go ahead to share identity verification from Digital iD with all platform which is integrated with it.
Users have the opportunity to determine how much of their identity data they need to share every time they link their own Digital iD to a fresh platform, to cut their exposure to insecurity.
Latter adopter of this infant tech are Digital inrush, a Brisbane-based digital currency platform that allows clients to settle their bills with digital currency as well as trade it, and two other crypto platforms – Coin Loft and Coinjar.