The Digital Identity Regulation has reportedly entered into force. This means that the solution will become available by 2026.
A digital ID and personal digital wallet for EU citizens, residents and businesses should help with enabling more frictionless experiences in an online environment.
As noted in a blog post, our personal data tells our life’s story so we should be “the one to control it and decide when and with whom your data is shared.”
The EU Digital Identity Wallet reportedly makes it possible.
It will aim to serve as “a secure and easy way for European citizens, residents and businesses to prove who they are when accessing digital services.”
The wallet app will enable you “to safely obtain, store and share important digital documents about yourself and electronically sign or seal documents.”
Providing the documents needed to open a new bank account, enroll in a university abroad, or apply for your next dream job will be “both easy and secure.” And your privacy “will always be respected; you control what data is shared and who has access to it.”
The Digital Identity Regulation entered into force in May 2024.
It will enable the digital transformation of “the public sector, allowing for more services to be accessed digitally, including across borders.”
Businesses will find it easier “to offer online services across Europe as the wallet means secure authentication will be available to every potential customer in the EU.”
Each Member State will offer “at least one version of the EU Digital Identity Wallet, built to the same common specifications.”
This key development indicates that both service providers and regulatory authorities realize the importance of regulating digital technologies and critical online services. With the rise of digital technology and increased globalization in the past decade, it’s now imperative to provide a comprehensive regulatory framework to support innovation.
This announcement marks a key step forward in the advancement of digital services while ensuring adequate consumer protection.
