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European Union to unveil bloc-wide digital wallet

The new digital ID will give every European the keys to their digital twin – – Thierry Breton

The European Union (E.U.) is all set to unveil the detailed plan for a bloc-wide digital wallet on Wednesday, i.e., June 2, 2021, which will allow citizens to securely access a range of private and public services with a single online ID.

The digital wallet would securely store payment details and passwords and allow citizens from all 27 countries to log into local government websites or pay utility bills using a single recognized identity.

The users can access the app via fingerprint or retina scanning among other methods. The 27 member states have been asking for a safe way for citizens to access public and private services online.

Apart from this, the digital wallet will also function as a vault where users will be able to store their official documents such as a driver’s licence. Though using the wallet is not compulsory, but citizens using this would benefit from an extra-secure digital ecosystem and greater flexibility.

Speaking on the occasion, the European Commissioner for Internal Market – Thierry Breton said, “The new digital ID will give every European the keys to their digital twin.”

The E.U. will ensure that companies who have access to data available on the wallet, do not use it for commercial purpose, such as marketing new products. The E.U. is working with Member States to provide guidelines on technical standards for the rollout of the digital wallet, which is expected to be fully operational in about a year.

The new proposal is a part of a review of existing E.U.-wide electronic identification and follows a consultation on the drivers and barriers for the deployment of a digital wallet. This was needed as the existing system suffered low take-up with only 19 countries introducing Digital IDs and that too not all of them are compatible with one another.

The E.U. believes that the increased level of digital literacy, which people experienced during the Coronavirus (COVID-19) lockdown, will help in making the digital wallet a success.

It will also help users in accessing public and private services. For example, a person hiring a car will be able to use his digital wallet to do so remotely through an application that will verify their identity and issue an electronic key so they can take the car immediately without the need to wait in line at the airport.

The digital wallet is simple, secure and it will protect people online. The users will also have the power to decide how much information they give out while other apps don’t let the user decide what they are sharing.

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