The European Digital Identity Wallet (EDIW) is set to change the way we manage and share personal information as Europe moves deeper into the digital age. With a more unified digital identity system on the horizon, businesses and citizens will need to prepare for the changes and opportunities this will bring.
In this podcast, Maria McCann from Project Foundry and Adam Kissane from Nua Léargas discussed how the EDIW could reshape industries, governments, and even our daily lives across Europe.
What is the European Digital Identity Wallet?
The European Digital Identity Wallet is an eID wallet or app designed to facilitate seamless interactions with services by securely managing everything from your ID to healthcare and financial information, all in one place. Instead of the scattered systems currently in place, where information is spread across various platforms, the EDIW offers a user-controlled, centralised solution. Most importantly, it empowers users to decide who gets access to their data and when, enhancing data privacy and control.
What does the EDIW mean for businesses?
For starters, it could simplify processes like customer onboarding, complying with Know Your Customer (KYC) rules, and boosting security. The European Commission estimates that the EDIW could contribute €2.8 trillion to the economy by 2030, with sectors like finance, healthcare, and retail benefiting the most from this digital transformation.
When will the EDIW be Fully Operational?
Implementation is still a few years away. Public services are expected to adopt it by 2026, with private companies following in 2027. Ireland is already testing the EDIW and developing digital credentials for government employees. This is an important step toward ensuring regulatory compliance and a robust digital identity ecosystem. So, now is the time to start understanding the technology and planning how you will use it.
What will the impact of the EDIW be?
As this digital shift approaches, the EDIW brings both opportunities and challenges. It’s not just about adopting new tech—it’s about embracing a future where digital identity is secure, easy to manage, and fully in the user’s hands.
Whether you’re a business leader wanting to stay ahead or just curious about how it will affect your everyday life, the European Digital Identity Wallet is something you should understand. Will your business be prepared to navigate the regulatory landscape and leverage the potential economic impact?
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Data and Digital Solutions
Under the leadership of Maria McCann, Head of Practice for Data & Digital Solutions, the Project Foundry offers a range of specialised services to help businesses harness the power of data and digital technologies. Maria works closely with business leaders to develop and implement data strategies, leveraging AI and analytics to drive business outcomes. Her role includes guiding organisations in adopting and embracing digital technologies, as well as empowering and enabling their workforce to use these tools effectively. By executing these strategies, we help businesses transform into innovative, data-driven, and digitally agile organisations, fostering an environment where employees are at the forefront of creating value for stakeholders.
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