The need to reduce paperwork in data management and provide greater security for citizens has led to the creation of the European Digital Identity Wallet, or EUDI Wallet, which will come into effect in 2026.
This wallet will serve to store, manage, and share verified identity data on a single device. It is expected that the benefits can be leveraged in sectors such as tourism, public services, e-commerce, banking, among others.
The digital identity platform Signicat is involved in this European initiative aimed at complying with the new eIDAS regulation.
The benefits of this digital wallet for businesses are already being outlined, as it will allow for remote contract signing, without paperwork or wasted time; online data verification; and the elimination of steps such as scanning documents or entering passwords.
For Spain, a key country in digital innovation, “EUDI Wallets will streamline customer interactions, improve security, and simplify cross-border transactions. Whether for opening bank accounts, verifying tax residency, or booking travel, this technology will simplify procedures in both the public and private sectors.”
Unlike traditional electronic identities (eIDs), the EUDI Wallet “integrates authentication, electronic signatures, and the management of multiple credentials, making processes such as user onboarding, payments, and official verifications faster and more secure.”
M.Pino
Source: eleconomista
(Reference image source: Marielle Ursua on Unsplash)
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