Piloting Government-Verified Credentials Integration into Digital Wallets

The $288.1 million funding for the federal government's Digital ID system represents a massive increase from the previous budget allocation of $24.7 million. This significant boost in funding comes at a time when concerns over data security are heightened, following a recent data breach affecting over one million ClubNSW patrons. Finance Minister Katy Gallagher stressed the importance of Digital ID in reducing the risk of identity theft, noting that the ClubNSW breach serves as a reminder of the need for secure online services. Gallagher emphasized that Digital ID helps safeguard personal information by limiting the sharing of sensitive data and minimizing the number of copies of ID documents in circulation. In light of this, the government has committed $23.4 million over two years to pilot the use of government digital wallets and verifiable credentials. This initiative, spearheaded by the Australian Taxation Office, Finance, and Services Australia, aims to further enhance the security and convenience of digital identity verification for Australians.