Community
eIDAS2 is a fundamental step forward. It is building on MyData principles and the legal right for EUcitizens to get their data into practical use. One of the key elements is the no-need-for-technical-integration depicted below.
Still there may be some countries that see the wallets only an identification tools - instead of builders of identity for every citizen, organisation and a wide range of things. Forming the trust infrastructure (factwallets and cross-sector and borders interconnecting net) that according to MvKinsey will have a 3-6% GNP impact. Many think this is an understatement and see it as even bigger than Internet.
Therefore it is the duty of responsible governments and EU to push it forward with legislation and some funding - together with responsible enterprises. But without the financial sector adoption will be too slow.
Time for wake-up calls - all over the place. Excellent presentation here: https://mobeyforum.org/wp-content/uploads/2022/02/Mobey-Forum-Keynote-Drummond-Reed.pdf
https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/digital-identification-a-key-to-inclusive-growth
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Roman Eloshvili Founder and CEO at XData Group
06 December
Robert Kraal Co-founder and CBDO at Silverflow
Nkiru Uwaje Chief Operating Officer at MANSA
05 December
Ruoyu Xie Marketing Manager at Grand Compliance
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.