GSMA - Identity & FinTech’s Post

The GSMA responded to the European Commission request for feedback on the European #DigitalIdentity implementing acts. European Digital Identity wallets can play a significant role in making identity verification processes more secure and convenient, and underpin streamlined commerce fit for the digital age.  For this initiative to succeed, we recommend: 1️⃣ ensuring a full implementation of #privacy  2️⃣ enabling sustainable business models  3️⃣ keeping the framework open to all relevant technologies. Read more: https://lnkd.in/eXYmEBt9 #EuropeanID #eIDAS

Europe is stepping into the future with the adoption of a new legal framework for a European digital identity (eID), marking a significant leap in our digital transformation journey. This innovative eID aims to provide all Europeans with a unique, secure digital wallet, empowering us with full control over our personal data and simplifying our access to public services online. It's a move that positions the EU as a global leader in digital standards, ensuring our citizens can confidently navigate the online world with a secure and verified identity. This development isn't just about convenience; it's about creating a seamless, secure environment for online interactions and transactions across the EU. With plans fully in motion for implementation by 2026, the European digital identity wallets will revolutionize the way we prove our identity and share essential documents, all while maintaining stringent control over our personal data. It's an exciting time for digital innovation in Europe, promising a more connected, secure, and user-centric digital landscape for all of us. #EuropeanDigitalIdentity #DigitalTransformation #eID #DigitalWallet #DataPrivacy #EUInnovation https://lnkd.in/drykQkzc

As a result of all the dedication and commitment to #digitalidentity I am really pleased and proud that the European Union has finally passed a vote to implement a far-reaching digital identity framework. This is the most ambitious digital identity project that the world has ever seen! Congratulations to the many stakeholders and sponsors who have been involved in this work to date. The new European Digital Identity Wallet will be entirely voluntary to use, but citizens who choose to adopt will be issued their identity wallets by their national member state. The identity wallets will be entirely secure and private by design. Use of digital identity wallets in this way will promote convenience, efficiency and safety for online transactions and will slowly begin to change the way EU citizens engage with the digital world around them over the next 5 years. There will be many challenges in the journey ahead (not least that we do not yet clearly understand the business model) but my gut feel is that this is now the end of the beginning phase of a huge digital transformation on a continental scale. https://lnkd.in/eB_RNTS3

📱 Cybernetica has completed a major milestone in the development of the Estonian #digitalidentity wallet. In mid-June Cybernetica handed over the minimum viable product (MVP) of the digital identity wallet solution to Riigi Infosüsteemi Amet // Estonian Information System Authority (NCSC-EE) (RIA). 💬 Oliver Väärtnõu, CEO of Cybernetica, emphasised the importance of the development: "While Estonia has set the gold-standard for secure and user-friendly electronic #authentication and #digitalsignatures, the Estonian Wallet MVP is the first step towards the next generation #eID. It will enable a new electronic authentication framework, with stronger #privacy guarantees and the introduction of new document types enabling a much broader range of eID use-cases." Read more below 👇

INTERNATIONAL NEWS: OIX calls on new UK government to accelerate digital ID rollout 🇬🇧 The OIX - Open Identity Exchange has urged the UK government to develop a comprehensive digital wallet strategy, clarify how digital IDs will be used across both the public and private sectors, and take a leading role in ensuring these IDs work internationally. In a letter to Secretary of State Peter Kyle, OIX emphasized that while the Digital Identity and Attributes Trust Framework (DIATF) is a good start, it needs rapid evolution. OIX highlighted that digital IDs could significantly boost the UK economy and efficiency in various sectors, advocating for digital versions of common identification like driver’s licenses and passports, and for the private sector to be involved in issuing these credentials. The organization also stressed the importance of interoperability with the EU's digital identity systems to enhance global trade and influence. h/t Biometric Update #digitalID #digitalwallet #interoperability https://lnkd.in/gmTceJRU

If you have a keen interest in #tech and #government, and you’ve been to #Estonia sometime in the last 10 years, then you will have no doubt heard about e-Estonia - the digital govenrment system where almost every beaurocratc task can be done online. Underlying that infrastructure is the X-Road, a secure internet-based data exchange layer that enables Estonia’s government’s different information systems to communicate and exchange data with each other. Alll of which would not work without #digitalidentity Now, Cybernetica has completed an MVP #eID Wallet “The MVP delivered has several key functionalities implemented to replace physical means of identity proof, such as: - presenting proof of ID or driver’s licence, - personal identification data can be issued directly to the wallet app without the need for a physical ID card, - selective sharing of attributes: for example, specific data needed for each use-case, i.e., one’s name or document ID, without the need to disclose the entire document’s data and thus, enhancing privacy.” One to watch

As stated "Therefore, as organizations navigate the implications of eIDAS and the EU Digital Identity Wallet, it's imperative to recognize not only the challenges but also the vast array of business opportunities presented". This is very true and while the examples offered are a few of the opportunities and based on linear non-disruptive logic it serves as examples. I am pretty sure we will see other ways of utilizing the ecosystem as well as the enablement for the internal digital market that will be much more profound in the close future. It is really too great an opportunity to miss.. #WalletAdoption #GroundbreakingLegislation #DigitalIdentityFramework #eidas #digitalidentity #digitalverification #digitaltransformation #digitization #payments #cbdc #openfinance #ecb #eidas2 #digitaleuro

The European Digital Identity Regulation is now in effect. By 2026, we’ll have our own European Digital Identity Wallets, changing how we use online services. A great step towards tech sovereignty and data protection by the EU! #DigitalIdentity #EURegulation #OnlineSecurity #Privacy #DigitalTransformation #TechSovereignty #DataProtection https://lnkd.in/dtnMkhPN

The European Digital Identity (EUDI) Wallet is poised to revolutionize data sharing across Europe! This game-changer, coupled with the upcoming eIDAS 2.0 regulation, will establish clear standards for how citizens can securely share their data across various sectors. 🇪🇺 Imagine a world where you can easily control your digital identity and share it effortlessly. The EUDI Wallet empowers citizens, while eIDAS 2.0 ensures data privacy and security. What are your thoughts on this development? #EUDI #eIDAS #digitalidentity #privacy #security https://lnkd.in/eGpxwjsp

The UK’s Digital Identity framework is evolving, but it still has room to grow compared to the EU's established eIDAS system. Digidentity’s solutions, including secure digital wallets, offer a way forward, enhancing data protection and trust in a rapidly digitising economy. Learn more about the key differences and potential opportunities in our latest blog: https://lnkd.in/dJsvb6Yk #DigitalIdentity #eIDAs #DigitalWallets