Speakers
Synopsis
In 2023, the Australian Competition and Consumer Commission (ACCC) reported over 16,000 cases of identity theft in 2022 (ACCC 2023). Approximately six percent of these incidents resulted in losses exceeding $10 million (ACCC 2023). The OAIC reported 527 data breaches from January to June 2024, including the MediSecure breach, which impacted approximately 12.9 million Australians.
In 2024, The Australian government has passed new national digital identity laws called the Digital ID Act and proposed a new Trust Exchange to allow digital credentials to be stored in digital wallets. The Digital ID Act 2024, set to commence on December 1, 2024, will facilitate the shared use of Digital IDs between public and private sector organisations.
With Trust Exchange, users will no longer need to physically hand over personal documents to access services. For example, to open a bank account, a user can scan a QR code to share passport information stored in a digital wallet, securely exchanging data with the bank using a token. A consent record of this transaction will be retained for users. Embracing a decentralised approach to store personal credentials in digital wallets reduces the amount of personal data held by businesses, enhancing both privacy and security.
Join this session to explore the technology driving decentralised identity and its role in securing Australia’s digital future. The attendees will learn about the steps involved in implementing user journeys utilising verifiable credentials and passkeys, the benefits and associated nuances with their adoption.
