Making x-border business easier - with organisation wallets

EWC is in my book the most important of the EU Trust Infastructure large scale implementation pilots. It (i) demonstrates how useful the infra will be for enterprises, their staff and the public sector, (ii) speeds up adoption of organisation wallets. 25 (incl Microsoft's) already available according to FIDES: https://www.linkedin.com/posts/bo-harald-4768b51_organisation-wallets-galore-httpslnkdin-activity-7262513410880253953-XKCa?utm_source=share&utm_medium=member_desktop (iii) puts pressure on all public sectors in EU to use the applications to right away start sending and receiving all sorts of credentials - especially to and from businesses. 

One EWC pilot by Bosch and Finnish Tax demonstrates how opening a bank account cross border (usually hard work) can be made easier:  https://www.linkedin.com/pulse/eu-digital-wallet-simplifies-opening-business-account-hannula-m06pf/

EWC also added the PoP-credential (Proof of Purchase - AKA e-receipt) on its agenda from the outset. This is the by far most important credential as the issuing volumes are so enormous. This means that the cost and stress savings in accounting, travel expense management, insurance claims, reselling etc add up to billions. The impact on Cyber Crime (global cost estimated to 6 trillion $), fraud and the grey economy will be dramatic. Insurance fraud is a cost included in insurance premiums. Judging from estimates in Finland the verified receipts could cut costs with 8-10 bn in Europe. 

Banks have since ancient times been central providers of trust. Now is the time to build on this by adopting own organisation wallets (and helping customers to get their own - better call them Fact wallets https://www.linkedin.com/posts/bo-harald-4768b51_now-is-your-chance-to-get-a-first-look-at-activity-7263818561775697920-Ezwz?utm_source=share&utm_medium=member_desktop) to start receiving the verifiable credentials customers soon can supply from their wallets and naturally send bank-issued credentials of all sorts to customers and in public sector reporting. Simple examples on the sending side are IBAN-accountnumber credentials and bank guarantees.