Business News The EU develops a unique digital wallet for identification...

The EU develops a unique digital wallet for identification and payments


- Advertisment -

The application will allow all citizens of the European Union to safely access public and private services with their online identity.

The European Union finalizes the details to officially present a uniform digital portfolio for all member countries. It thus responds to requests from member states to find a secure mechanism with which citizens can access public and private services on the internet with their identification.

The Financial Times assures in a report that the EU is ready to reveal the details about that digital portfolio in which the data and official documents of each citizen can be stored safely for use in the various public and private services in which they are requires official identification.

In this digital wallet the identity document, the driver’s license or payment details and personal passwords can be stored. In the 27 countries, it will be used to securely access the pages of the administration of each country, pay bills to public services using a single identity recognized throughout the union. The Financial Times collects this information from sources close to these plans.

The application can be protected with biometric systems such as the fingerprint or the retina scanner, for example. As they explain, it will be the digital version of the portfolio of a lifetime where we keep the official documents that identify us, ID, driver’s license, etc.

In Spain, for example, there are multiple applications of the administration where we can save or use that identification. The DGT allows you to save your driving license on your mobile and manage fines and other procedures through its application. On the other hand, the Tax Agency uses the digital certificate to identify citizens when they are going to present the Income Statement or other procedure, a certificate that is activated in police stations throughout the country. This new system would unify both processes in a single application.

Security in this new plan is vital. The EU will impose a structural separation with which to prevent companies from using this digital wallet data for any other activity than the one we have indicated. They will not be able to use this information provided by citizens for the commercialization of new products, for example.

According to The Financial Times, this digital portfolio will be available in one year, a period in which the EU will work with each administration and member state to establish technical standards with which to reinforce the security of the system and build a uniform deployment throughout the Union.

Tiffany Cleyton
Tiffany Cleyton is a The Advertiser Mirror correspondent who covers food, politics, business, trend, lifestyle, fashion, entertainment and worldwide news. Tiff is a talented girl of 21 years old who is fascinating with journalist work and music, also she loves to produce documentaries.

Latest news

Raisi, the radical leader who will become president of Iran

The victory of Ebrahim Raisi in the presidential elections of Iran breaks with eight years of certain reformism championed by his predecessor, Hasan Rohaní.

Cryptocurrencies, million dollar ideas or technology bubbles?

The cryptocurrencies born in 2008, but every year they take more strength and position themselves as "revolutionary being" against the money as we know it so far.

Domestic tourism, a global trend in 2021

Proximity tourism has developed both in China and in the United States and Europe, due to closed borders during the pandemic.

Ethereum vs Bitcoin: who will win the ‘crypto’ long-distance race?

The cryptocurrency market is witnessing a period of diversification of investments among the main 'altcoins' (alternatives to bitcoin). Following the rally of the world's largest digital currency.
- Advertisement -

Falls on Wall Street to close a week marked by the Federal Reserve

Wall Street fell in all its values ​​to close a week in which the Nasdaq 100, which groups the 100 largest companies in the technology index, marked a new all-time high on Thursday.

UEFA asks to stop removing bottles from sponsors

UEFA on Thursday asked the players of the 24 Eurocup 2020 teams to stop removing the drinks of the sponsoring brands from the table during press conferences.

Must read

- Advertisement -

You Might Also LikeRELATED
Recommended to you