Report from Major Bank Reveals 46 Percent of Australians Prepared for National Digital ID

Report from Major Bank Reveals 46 Percent of Australians Prepared for National Digital ID

The Australian Senate is set to debate the digital ID legislation on Wednesday, and a recent report from National Australia Bank (NAB) has revealed that 46 percent of Australians are prepared to sign up for a bank-verified national digital ID. The research conducted by NAB shows that 14 percent of Australians are “very likely” to sign up, while 32 percent are “likely” to do so. However, there are still 38 percent of Australians who are undecided, 8 percent who are very unlikely, and 7 percent who are unlikely to sign up.

The proposed Digital ID Bill 2023 aims to provide individuals with a secure and convenient way to verify their identity for online transactions with both government and businesses. It is designed to promote trust in digital ID services and ensure that less data is shared and stored, thus benefiting the Australian economy.

However, not everyone is in favor of the legislation. Liberal Senator Alex Antic has presented a petition with 123,000 signatures to Prime Minister Anthony Albanese, expressing concerns about individual privacy being exploited. Senator Antic believes that this bill is just the first step towards a digital future that Australians may not want. He suggests that the implementation of a digital ID could potentially be tied in with a central bank digital currency or a social credit score system.

Currently, Australians can voluntarily use a digital ID to access government services such as MyGov, Centrelink, Medicare, and the Australian Tax Office. However, the digital ID legislation aims to broaden the use of this system for state and territory governments as well as the private sector.

NAB has been touting the benefits of the digital ID system, claiming that it will reduce non-essential data sharing and collection. By using digital ID, companies can validate an individual’s age without having to collect and store identification documents. The bank emphasizes the need for a culture shift to change attitudes and behaviors associated with over-collection, over-sharing, and over-retention of personal information. This change should be supported by clear and strong regulation and enforcement.

In the meantime, banks, credit card operators, and Australia Post have been fast-tracked for inclusion in the digital ID system within two years. Finance and Public Service Minister Katy Gallagher is making changes to the legislation to secure support from Australian Greens, independents, and possibly the Coalition. Amendments have also been proposed to confirm the voluntary use of the digital ID and to ensure that individuals have control over activating or deactivating their digital ID.

The digital ID bill has been referred to the Senate Economics Legislation Committee for report, which highlighted the need for a digital ID regulator responsible for accrediting providers. Concerns have been raised about the government’s digital framework not being truly voluntary, as the bill allows the regulator to require the use of digital ID if it is deemed appropriate. Coalition Senators have called for clearer limitations on the regulator’s powers.

The government sees the implementation of a digital ID as a major economy-wide reform with significant benefits for individuals and businesses. It provides the flexibility to include other services in the future, such as digitally verifiable credentials or digital ID wallets.

As the Australian Senate prepares to debate the Digital ID Bill 2023, there is both excitement and concern surrounding the implementation of a national digital ID system. While many Australians are ready to embrace this technological advancement, there are still uncertainties and doubts about privacy and potential future implications. The outcome of the Senate debate will determine whether Australia moves forward with this transformative digital initiative.