The implementation of the European Identity Wallet is set for 2026, with several organizations already exploring its potential, focusing on user authentication.
New Wallet Capabilities
The European Identity Wallet will revolutionize identity verification by offering users a secure and seamless way to confirm their identity. The IOTA Foundation is one of the key organizations working towards making the European Identity Wallet project a success.
Advantage in the B2B Segment
With the increasing popularity of the Self-Sovereign Identity (SSI) concept in the B2B segment, especially in trade and finance, using the European Identity Wallet can restore trust in the digital space, helping combat crypto scams and fraud.
Supporting Trust in the Digital Space
With the upcoming eIDAS 2.0 regulations, users will be able to log in to any compliant website using the European Identity Wallet without creating an account or password. This will also allow users to share verified information such as email, age, address, and contact numbers with a click of a button, reducing customer friction and streamlining the entire eCommerce process. The Proof-of-Concept project UniMe aims to get certified as a European Identity Wallet by updating its login flow.
The eIDAS 2.0 regulations and the European Identity Wallet offer a promising solution to restore trust in digital spaces, providing companies with tools to protect users from online fraud.
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