on the crypto
The European Commission has announced that parts of its digital ID scheme need to be changed for online transactions across Europe.
Greater transparency for EU citizens
A member of the commission, Andrea Servida, recently said the question arose after noting a certain level of uncertainty in the process of creating a digital identity. And this can be seen as the official position of the European Commission.
According to Servida, the main problem is that users don't know what's going on with their personal data. Therefore, the Commission has launched an initiative to review the 2014 eIDAS regulation on electronic transactions, opening a public debate in July that will last until the first days of October. At the end of this debate, the Commission is expected to publish the proposal for a new e-identity system for EU citizens.
The debate of the European Commission will end soon
The Center for European Policy Studies (CEPS), a Brussels-based institution, said in a report that the importance of new digital identity rules is growing due to the Covid-19 pandemic.
Many service providers and digital platforms disagree that personal data is at risk. For example, DigiByte creator Jared Tate said that the future of personal privacy, as well as data protection, is in the concept of a blockchain wallet. So there is no need to put control of any data in the hands of any government in the world.
DigiByte may provide its apps and services to the world
Rudy Bowman of the DigiByte Foundation revealed that he recently had a long chat of several hours with key figures from leading global technology companies.
The main topic of their discussion was how DigiByte could help the world overcome the problem of authentication in the commercial space. It also announced the ability to sell DigiByte apps and services worldwide. Bowman did not disclose all the details, but said that everything will be known in the coming weeks.
CEPS insists on identity verification as paramount
CEPS stated that identity verification is a key feature of the European economy. Their main concern is that the current regulatory framework is outdated in the fast-growing online business environment.
Current identity verification requirements represent a significant financial burden for businesses, as well as inconvenient for customers. While the internet helps online businesses grow, identity verification continues to require physical interaction in most cases. In its report, CEPS concludes that the world needs an easy-to-use yet strong digital identity system. Without it, the economy could have costly consequences. Small businesses and start-ups are particularly at risk.
