Australian Post Ventures into the Cryptocurrency Industry

The rate of cryptocurrency adoption continues to increase every day thanks to financial regulators and governments approving the use blockchain technology. An Australian company that is well known for its robust digital platform, Australian Post, is the most recent corporate company to venture into the cryptocurrency industry.

As cited by Ethereum World News, Australian Post is currently helping people who are interested in the blockchain technology and cryptocurrencies crate accounts on various exchange platforms in minutes. Reports indicate that the registration process offered by this company is faster and more reliable than what other virtual currency exchanges provide.

Unlimited Access to Wide Array of Cryptocurrencies

Australian Post management team is aware of the impact and potent power of cryptocurrencies and blockchain technology. As a result, the team agreed to give their customers an opportunity to create a trading account on many virtual currency exchanges. The registration process is done through its secure digital platform dubbed, Digital iD.

One of the highlights of this platform is that Australians who opt to use it do not have to provide private documents such as identification cards. More importantly, they don’t have to wait for days for their application to be approved.

According to the general manager of Digital iD, Cameroon Gough, the main objective of the platform is to give thousands of people who rely on Australian Post for news better control over the confidential information they share with organizations and companies. Cameron used the example of someone producing his driver’s license to prove that they are of age to enter a club or purchase liquor while all they need is to give their name and date of birth. The additional information in the driver’s license is not necessary.

Digital Surge Exchange Adopts Digital ID

Brisbane based cryptocurrency exchange, Digital Surge is the first company to embrace the digital platform and allow new customers to register through it. Josh Lehman, the current director of Digital Surge said that the platform offered by Australian Post provides a better user experience and fastens the registration process.

Lehman also went ahead to state that Digital Surge has addition systems that enable them verify the identity of new customers instantly. It is also important to note that Australians have the ability to buy their preferred cryptocurrencies in seconds without having to provide additional personal information that is contained in the driver’s license or passport.

Overview of Cryptocurrency Industry in Australia

Australian government has being working on policies and regulations tailored to promote use of cryptocurrencies. In 2017, a number of Australian senators tabled a bill that sought to legalize use of Bitcoin. One of the senators who drafted the bill believes that legalization and full adoption of bitcoin would help the country’s financial institutions grow as well as boost the Reserve Bank.

Gobbill and Cointree, two Australian companies, have announced a partnership that will give thousands of Australian a chance to use cryptocurrencies to pay utility bills. Fidelity plans to launch a cryptocurrency custodian platform that will help retail investors and institutional traders keep their digital asset safe.