EU, UK and India hand in hand with organisation wallets

V Parthasarathi has written very clearly about the path forward in his LinkedIn post. Noting that wallets for citizens are in various stages of rollouts in 100+ countries.

I have for my part noticed that India has been moving resolutely forward already for some time. Now the the question is how much we in Europe could learn, possibly contribute and in any case work towards organisation wallet interoperability with India. Public sectors naturally using the same interoperable general purpose wallets/agents as businesses and doing it without delay.

 

I borrow snippets here:

 "Wallets for business (business wallet and company ID) (EU and UK) just announced. "

"Wallets for each stakeholders in the supply chain in the context of digital product passports. (wallets for producer, supplier, distributor, factory). (EU, Battery Passport, Product Passports). "

"Wallets for AI agents (BigTech) upcoming. "

"A whole new economy is formed such that respective stakeholders have agency and control over their data with interoperability and data portability."

"Wallets becomes the next interface for 

1. Identity and Credentials/certificates.
2. Payments and Money.
3. Assets (tokenized real world assets stocks, bonds, real estate, IP) and Digital Assets (NFTs, Arts, Avatars, Ads, Content)
4. AI - AI agents with Wallets and Wallets with AI agents.

Whether you call it Wallets or Vaults or e-locks or personal data stores, a new economy is getting created with data authenticity, consent and provenance powered by standards and protocols."

Can hardly be expressed more clearly..

 

And by now I am sure that the banking sector has also noted the 84,7bn yearly savings estimate regarding only procurement processes, only in enterprises, only in Germany referred to in my previous post.

And that similar estimates are needed also there - especially focusing on banks' own risk management and the need to support the SME-sector by getting the paired business wallet and AI-agent safely integrated into e-banking.