If you are a business owner or an individual looking to protect your digital identity, it is critical to understand the power of a digital identity wallet. In this article, we will explore the benefits and functionalities of digital identity wallets, as well as the purpose and implications of the new eIDAS2 standards.
What is an EU digital identity wallet, and what is it for?
An EU Digital Identity Wallet is a mobile application that functions as a digital representation of a physical wallet, designed to securely store and manage various identity data, such as driver's license, social security card and educational qualifications, while ensuring the user's privacy.
With EU Digital Identity Wallets (EUDI Wallets), individuals will be able to prove their identity anywhere in the EU when they need to access online services, share digital documents or simply verify a specific personal attribute, such as age, without having to reveal their full identity or other personal details.
Digital wallets allow users to have full control over the data they share. Data is shared privately, ensuring that no intermediary can access this information. This not only protects the user's privacy, but also enhances the security of their personal data.
How does a digital identity wallet work?
A digital identity wallet use advanced encryption and secure protocols to ensure the privacy and security of personal information. When creating a digital identity wallet, users are assigned a unique digital identifier, which is part of their digital identity. This identifier is securely stored in the wallet, along with any additional information the user chooses to include.
When the user needs to authenticate to a platform or service, he can select to share specific information from his digital identity wallet. This information is securely transmitted to the target platform using advanced encryption techniques. In addition, digital identity wallets incorporate biometric authentication, such as fingerprint or facial recognition, providing an additional layer of security.
This ensures that only the real owner of the digital identity wallet can access and use its data. Thanks to these security measures, users can manage and share their personal information reliably and securely.
Advantages of the EUDI wallet compared to the current system
The current digital identification systems offered by EU governments have several significant limitations. They are often limited to online public services and are not available in all countries, so they do not offer easy cross-border access. To overcome these shortcomings, the EU has introduced EU Digital Identity Wallet which in addition to online access will also allow in-person (device to device) and even offline scenarios.
The new rules state that all EU citizens, residents, and businesses will have the right to an EU digital identity wallet, which must be accepted in all Member States. Holding a wallet will be entirely voluntary for citizens. Users will be able to control what kind of personal data they want to share with online services. Public services and certain private services (large platforms and those required by law to use strong user authentication) will be obliged to recognize the EU digital identity wallets. Its highest security features and legal certainty will make it attractive for all private service providers to recognize it for services, thus creating new business opportunities across the internal market.
The EU has introduced a trust framework under the eIDAS Regulation that enables citizens and businesses to use identification and trust services with legal effect. These services are important tools to ensure trust and security in the Digital Single Market. Some services, such as eSignatures, will be integrated into the wallet to make them easier to use.
The EU has set ambitious targets for digital transformation. According to the Digital Decade Policy Program, by latest 2027, all Europeans should have access to a voluntary digital ID and key public services online.
What can users do with the EU digital identity wallet?
Below are some potential uses of the European identity wallet:
- Accessing government services: Citizens can securely access government services such as applying for permits, applying for a passport or driver's license, paying taxes, and accessing healthcare records using the wallet.
- Online banking and financial services: Users can securely access financial services, log in to bank accounts, and make payments using their European Identity Wallet.
- E-commerce and online shopping: The wallet can be used for secure authentication during online shopping, which eliminates the need to repeatedly enter personal information.
- Travel and transportation: Electronic boarding passes, train and bus tickets, and vehicle rentals can be accessed seamlessly in the EU.
- Healthcare services: The wallet can potentially store and provide access to health-related information, such as medical records or vaccination certificates, making it easier to access healthcare services across borders.
- Education and professional services: Users can use their European Identity Wallet to access educational resources, certifications, and professional services.
- Digital signatures and authentication: The wallet provides a secure method for digitally signing documents or authenticating online transactions, ensuring the integrity and authenticity of online communication.
- Access to public Wi-Fi and online accounts: It provides a unified authentication method for accessing public Wi-Fi networks and online accounts.
- Age verification and access to age-restricted services: The wallet can be used to verify age for accessing age-restricted content or services online, such as buying alcohol or accessing certain websites.
- Personal data management: Users can manage their personal data with the wallet, choosing what info to share with service providers while keeping privacy and security.
These are just a few potential use cases for the European identity wallet, and its actual functionality may vary based on the specific implementation and regulations in different EU member states.
Protect your data security and privacy with VIDwallet: The Validated ID Solution
Our identity wallet is a smartphone-based identity wallet aiming to implement the digital counterpart of a physical wallet available for both mobile operating systems, iOS and Android.
VIDwallet is a decentralized digital identity wallet that allows you to securely store tamper-proof identity credentials on your phone and makes it easy to prove your identity while accessing online services. Additionally, it adheres to the European Blockchain Services Infrastructure (EBSI) standards and specifications, ensuring compliance. The EBSI initiative is a vital component of providing a secure, interoperable, and user-centric solution for digital identity management within the European Union.
Furthermore, VIDwallet is the first wallet that became EBSI compliant in all use cases in the compliant test.
VIDwallet facilitates users storing their data (such as their driver's license, passport, vaccination credentials, etc.) on their phones. All assets, such as key material, identifiers, and personal information, are securely stored and protected. This information can be used similarly to physical IDs to identify persons within in-person scenarios, like during a police check, and to authenticate towards online services.
Here are the key components and features of VIDwallet:
- Self-sovereignty: It allows individuals complete control over their digital identities. They can create, own, and manage their identity information without a central authority and choose what information to share and with whom.
- Interoperability: It allows users to use their identity credentials across multiple digital
- services without creating new accounts or undergoing other verification processes.
- Privacy and security: It protects user data with cryptography, ensuring privacy and security. Users have more control over their information, reducing the risk of breaches and unauthorized access.
- Portability: It's portable, allowing seamless access to digital services across devices and platforms.
- Verifiable Credentials: It issues, presents, and verifies credentials that are digitally signed attestations of identity information issued by trusted entities. These credentials can be selectively presented to third parties for verification without revealing unnecessary data.
- Decentralization: It operates on decentralized networks like blockchain, or distributed ledger tech. Users have more control over their identity data and aren't reliant on a single authority. EBSI is the only one DLTs used.
Validated ID track history in the digital identity world
Harness the power of a digital identity wallet for a better tomorrow
In conclusion, digital identity wallets are truly changing the way we interact with businesses, organizations, and even governments. With their ability to store and secure important and private personal data, these wallets are transforming industries and enhancing our everyday lives.
In the ever-evolving digital landscape, embracing the power of a digital identity wallet offers us the opportunity to have control over our personal information, ensuring that it remains secure and under our control. By unlocking the potential of a digital identity wallet, we are paving the way for a future where our information is easily accessible, and our online interactions are more efficient and secure.
So, if you haven't already, it's time to embrace the power of a digital identity wallet. Join us in our journey towards a better tomorrow, where our digital experiences are seamless, secure, and under our control.
Try VIDwallet
We invite you to download VIDwallet and follow the tutorial/user journey demo from the link.
In this demo, you will be able to:
- Download and install the latest version of VIDwallet. The application is available for Android and iOS.
- Create a new credential by verifying your ID.
- Sign into a fake government portal using your credential and request a Large Family credential.
- Request a new university student card credential and apply for a discount with your Large Family credential.
*External references: https://ec.europa.eu/commission/presscorner/detail/en/qanda_21_2664
