EFTPOS, QLD government, Meeco and Powertech partner to show the benefits for ID credentialing
eftpos has today announced the results of the first-ever Australian digital identity test between the eftpos’ Digital Identity service, connectID, Queensland Government Department of Transport and Main Roads, Australian FinTech Meeco and the leader in engineering and technical services Powertech which has shown the significant benefits of productivity that can be realized throughout the Australian economy by promoting the use for digital identification.
Australia first digital ID trial shows
The results prove that the digital ID technology is able to expand and provide efficiency, compliance and the benefits of risk management in all industries where the qualifications and skills of an employee is vital for all types of businesses, including health, elderly treatment, manufacture, transportation, education and training as well as all types of repair, construction and maintenance.
On actual work sites on the job site Digital ID trials demonstrate that the time needed to check mandatory safety, licencing and certifications for training that workers must have before they begin work could be cut from three days to 30 minutes.
The trial also employed the most advanced distributed ledger technology that were powered by the global distributed ledger network Hedera Hashgraph, for the registration and verification of credentials records. Eftpos is an Governing Council Member of Hedera as well. Meeco is an associate of Hedera.
The Managing Director of EFTPOS Digital Identity, Andrew Black said the trial proved the tangible benefits digital identity offers both business and workers The results show:
o The time it took for an HR team to take on an employee who was hired was reduced from one day to 30 minutes
o The amount of time required for an employee who was new to provide the necessary credentials was cut from the original 48 hours to just 30 minutes
The majority of the participants (both HR teams as well as employees) considered the new system simpler than the existing process.
Mr. Black stated that the trial demonstrated the immense benefits of government and industry working hand in hand to address real business issues and create an economic growth.
Australia first digital ID trial shows In Significant Increases In Productivity
“This trial demonstrates the practical advantages digital identities can provide when it comes to solving every day business challenges, including enormous improvements in efficiency and efficiency” Mr. Black declared. “By connecting to the connectID network to offer digital credentials that are sourced through the Department of Transport and Main Roads and Main Roads, these crucial infrastructure workers and operators could save two days, and be able to get to work quicker.”
Katryna Dow, chief executive and co-founder of Meeco stated: “In this case, the ability to securely verify driver’s license credentials held at the Department of Transport and Main Roads in real-time, with the consent of the employee is a demonstration of what can be achieved when governments as well as the private sector cooperate to produce excellent business outcomes. When digital IDs are implemented in a large an extensive scale and benefits are increased, they will and will be distributed throughout every aspect of Australian economy.
“By making use of Meeco’s Meeco digital identity card along with Hedera’s renowned distributed ledger technology, we’re in a position to bring trust to the forefront of everyday activities like the credential check. The ability for employees to be involved when it came to the making, use and authorization of immutable identity and safety and records for compliance was simple and speedy. The result was that advantages like time savings and efficiency were realized for everyone in the workforce.
Mr. Black said: “The same sort of efficiency, compliance, and risk management benefits can be realized by companies in virtually any field where confirming the abilities and abilities of employees is crucial – health treatment, elderly care transport, manufacturing and education as well as all kinds of repair, construction and maintenance are just a few examples. Customers will have confidence that individuals who perform the most important tasks are currently and fully qualified and companies can meet their compliance requirements easily and efficiently.”
Transport and Main Roads Customer Oriented Registration and Licencing general manager Chris Goh said the digital ID trial was a crucial step towards establishing a reliable credential ecosystem that provides security and convenience.
“Digital Identity” is often used to describe logins and authentication. Driver licences and other credentials remain the primary means of identity representation in the society. The linking of digital credentials to an account is an entire digital identity system, and we’re very happy for the opportunity to work with businesses and industry to help realize the idea.”
The connectID of eftpos acts as a broker between identity providers, which are companies who securely manage identity data for their customers – and retailers or government departments, as well as other parties who rely on them to know who they’re dealing with or get identity data that they can have confidence in. Eftpos is the only company that can offer this service, specifically for transactions that require a credit card.
Although connectID securely facilitates authentication of identity or exchange of data but it doesn’t store the information about identity. Identity providers store the identities of consumers and are responsible to share this data only with the consent of the owner of the identity. In this manner, the identity owner is the person who decides who gets and uses their personal information.
Paul Carmignani, Powertech’s managing director, is responsible for the experts working on the largest oil and gas, mining, renewables, infrastructure, and defense projects. “Reducing the time and cost of confirming workplace credentials using digital IDs means our workers are able to get their work done quicker. This means less downtime, fewer delays, and costs, and helps keep critical initiatives on”-track in order to keep Australians working.
EFTPOS’ connect ID is now working with partners to expand the capabilities and look into other markets where this application will help Australian customers, businesses, and public services.”
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