|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Australia plans 'Trust Exchange' ID system to improve identity verification efficiency
Aug 13, 2024 at 06:40 pm
Using QR codes and tap-to-pay methods, the ID system will securely communicate information from MyGov accounts

The Australian government is planning to introduce a new digital ID system to improve the efficiency of identity verification for various services, including checking into hotels and submitting job applications.
The system will use QR codes and tap-to-pay methods to securely transmit information from MyGov accounts, according to a report by the ABC.
Set to launch as a pilot next year, the optional system will allow users to seamlessly check into hotels and apply for jobs without having to worry about their data being leaked.
For instance, under the proposed "TEx" system, a person could check into a hotel by simply scanning a QR code, which would then safely transmit their passport details via a unified database.
Similarly, a QR code at a pub could verify a person's age without revealing the actual details.
In other cases, users will receive a digital token — also known as a "digital thumbs up" — that confirms their credentials while keeping their sensitive data private.
"It can all be done via the digital wallet on your phone – the TEx technology does the rest," Minister for Government Services Bill Shorten said at the National Press Club on Tuesday, according to The Conversation. "It can all be done via the digital wallet on your phone – the TEx technology does the rest."
"With TEx, instead of handing over those documents and having them taken to the back office to be photocopied, you will scan a QR code on the front desk – or use technology similar to tap-to-pay machine – which digitally shakes hands with your MyGov wallet," he added.
"You choose which information to share from your digital wallet and consent to its use. You will have a record in your MyGov wallet of what you shared and with whom you shared it," he said
"It could be date of birth, address, citizenship or visa status, or qualifications, occupational licences or working with children check. You control what details are exchanged."
However, cybersecurity experts have expressed concerns that centralizing such a large amount of sensitive information could make it a "honey pot" for cybercriminals.
The system could also lead to the government collecting more information than is necessary, according to the report.
"The more data you collect, the more risk you're introducing into the system. It's a risky project," Richard Buckland, a cybersecurity professor at the University of New South Wales, told The Conversation.
"Once we collect that data, sure, if we've got a system that protects it, that's great, but I've never seen a perfect system."
Nevertheless, the government has stated that the information will not be stored in a single database, as it is aiming to create a decentralized model, according to the ABC.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- ZEC Spot ETF Faces Hefty $93.56M Outflows: A Closer Look at Market Dynamics
- Oct 03, 2026 at 04:05 pm
- The ZEC Spot ETF experienced a significant $93.56 million in net outflows over a single week, sparking conversations about investor sentiment and broader market implications for Zcash-linked investment products.
-
-
- SlowMist Uncovers FlashLoopAdapter Flaw Draining Safe Wallets: A Wake-Up Call for DeFi Integrations
- Oct 03, 2026 at 08:05 am
- SlowMist has reported a critical vulnerability in FlashLoopAdapter, a third-party Aave integration, leading to 114 ETH being drained from two Safe multisig wallets. This incident highlights the inherent risks in external DeFi modules, even with robust core protocols like Safe.
-
-
-
-
- UK Finance Leaders Embrace Tokenization: Lloyds Survey Reveals Banking Transformation Ahead
- Oct 03, 2026 at 07:55 am
- A new Lloyds Banking Group survey shows UK finance leaders see tokenization as key to transforming payments, settlement, and liquidity, pushing the sector toward scaled infrastructure.
-
-
































