Crypto News 27.10.2018

Australias post office launches digital ID program

A 200 year old institution in Australia is fueling Bitcoin adoption for its huge customer base of 11 million people. The country’s post office is offering a new digital identity service called Digital ID that can legally be used to make the process of signing up to local Bitcoin exchanges quick and painless. Users no longer have to upload selfies and wait days for verification.

Australians can use Digital iD to get onto an exchange within minutes. “Digital iD gives people more control over the personal data they share with organizations,” says Digital iD general manager Cameron Gough. “For example, most people hand over their drivers license 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 residential address.” The first Bitcoin business to adopt Digital iD is the Brisbane-based Bitcoin exchange Digital Surge, which said the service is currently up and running. It also works with Australian companies Coinjar and Coinloft.

Supply firm completes first truckload shipment using Bitcoin smart contracts

DexFreight, a blockchain start-up that is building a freight transportation successfully facilitated a shipment of frozen food between Medley and Sunrise, Florida. DexFreights smart contracts, which rely on the Bitcoin blockchain, enabled the successful delivery and automated the payment to the carrier, Arel Trucking. Funds for the transaction were held in escrow by the smart contract on the integrated platform and were automatically released to the carrier upon delivery.“

Arel Trucking CFO Robert J. Julia said “dexFreight solves the issue of false documentation by making our transactions with shippers completely transparent, and so we can get paid for the service we provided. This technology is the way of the future for the whole trucking industry.” An immutable ledger such as the Bitcoin blockchain (or any blockchain with sufficient hashrate/security) presents important possibilities for various industries, especially those which involve the moving and tracking of physical goods. “The way of the future for the whole trucking industry.”

Kraken Daily Market Report for 26.10.2018


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Crypto News 27.10.2018


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