Skip to main content

European Union Finalizes Digital ID Wallet Agreement, Hints at Digital Euro Integration

European Union Finalizes Digital ID Wallet Agreement, Hints at Digital Euro Integration

The European Parliament and the Council of the European Union (EU) have finalized the agreement that will allow the implementation of a continent-wide digital ID wallet program. The agreement, which needs to be ratified at the parliamentary level, would greenlight the issuance of the EU digital ID wallet in accordance with the “Europe’s Digital Decade” framework, which targets the digitization of Europe.

European Union Agrees on a Digital ID Wallet Plan

The European Union (EU) has finalized the agreement that will allow the implementation of a digital ID wallet project in all of the EU. The agreement, which builds on top of the digital ID political pact reached in June, aims to extend access to government-based and private services using a simple mobile document app.

The news was announced first by Thierry Breton, commissioner for the internal market of the EU, who celebrated the development by stating:

We did it! With the European Digital Identity wallet, all European citizens will be able to have a secured e-identity for their lifetime.

Breton also reinforced that the wallet will have the “highest level of both security and privacy,” letting Europeans control which apps have access to their data. Private businesses and companies like Amazon and Facebook will have to implement public identification checks using these digital ID services based on European standards.

What Comes Next

The digital ID wallet might integrate with the Digital Euro in the future, as Breton hinted as a possible connection between these two services. Robert Roos, a member of the European Parliament who was present when the agreement was reached, explained how Breton suggested the future link.

Roos declared that after the agreement, Breton stated that now that the EU had an identity wallet, they had to put something in it, referring to the digital euro, the European central bank digital currency (CBDC) that recently entered its “preparation” phase.

These developments are inscribed in a framework the EU calls “Europe’s Digital Decade,” which seeks to digitize most government services and private businesses and educate a “digitally skilled population and highly skilled digital professionals.”

Nonetheless, the agreement still needs to be ratified by the European Parliament and all of its members. If approved, “Member States will have to provide EU Digital Identity Wallets to their citizens 24 months after adoption of Implementing Acts setting out the technical specifications for the EU Digital Identity Wallet and the technical specifications for certification.”

What do you think about implementing a digital ID wallet in the European Union? Tell us in the comments section below.



from Bitcoin News https://ift.tt/vSuk9iF

Comments

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought