The new eIDAS2 regulation will enter into force for all member states of the European Union in 2023.
The new eIDAS2 regulation will enter into force for all member states of the European Union in 2023. Its implementation could change the way digital documentation is conceived.
The new eIDAS2 regulation will enter into force for all member states of the European Union in 2023. Its implementation could change the way digital documentation is conceived.
eIDAS (electronic IDentification, Authentication, and trust Services) Regulation
The measure has been seriously planned since June and will seek to ensure that each European citizen has a digital identity that is recognized anywhere in the EU.
“The Regulation on Electronic Identification and Trust Services for Electronic Transactions in the Internal Market (eIDAS Regulation) is a milestone in creating a predictable regulatory environment. The eIDAS Regulation will help companies, citizens, and public authorities to carry out secure and smooth electronic interactions.”
One of the objectives pursued by this regulation would be that in the year 2030, the population that has a European identification system (e-ID) and 80% of the citizens of the Union is reached, making the digital transformation irreversible in the documentary area.
As described by the European Commission, this regulation would have the two functions listed below.
First, to ensure that individuals and businesses can use their own national electronic identification (eID) systems. Being able to access public services available online in other EU countries.
Second, to create a European internal market for trust services by ensuring that they will work across borders and have the same legal status as their traditional paper equivalents.
According to Ismael Gómez, commercial delegate of Camerfirma, the new digital wallets will allow their holders to identify themselves both online and offline and use civil, administrative, fiscal, banking, or university information to access public and private services.
Accompaniment to CBDCs
More and more central banks are investigating to achieve the best characteristics that a Central Bank Digital Currency (CBDC) can offer. The last case arises from the Bank of Spain, an entity that recognized the potential of cryptocurrencies, at the same time that it demanded its regulation.
On December 5, the Bank of Spain published a call to interested financial institutions and technology solution providers. These will participate in the pilot program of a wholesale CBDC, identified in the text as w-CBDC.
In summary, the Digital Identity measure can be considered as an accompaniment to the CBDC project, since it emphasizes greater state control of personal information. At the beginning of the year, the European Commission announced that a new bill will be proposed in early 2023. This would serve as the legal basis for the central bank digital currency (CBDC), i.e. the digital euro.
By Audy Castaneda
