EU Adopts Digital Wallet with Zero-Knowledge Privacy Tech

The European Parliament has adopted the European Union’s proposal for a digital identification framework, which includes a digital wallet for individuals with access to public services. The measure passed with 418 votes in favour, 103 votes against, and 24 abstentions would also include zero-knowledge proof (ZK-proof) technology to protect user privacy.

Zero-Knowledge Proof Technology for Privacy Protection

By allowing a position to be verified without disclosing extraneous information, ZK-proof technology gives users more say in how and with whom they share their personal information and helps to reinforce the values of selective disclosure and data reduction. This technology allows citizens to verify their identities and disclose only the information necessary to complete a transaction.

The European Digital Identity Wallet is designed to give people more trust in their security when using public services such as health care, education, and transportation. Reducing the quantity of documentation required for particular services is another goal. The framework is also viewed as a viable solution for the financial inclusion of European individuals and enterprises by enabling access to new digital payments and other financial services.

MEP Emphasizes the Importance of User Control over Data

Romana Jerkovic, a Socialist MEP who spearheaded the Parliament’s deliberations on the issue, stressed the necessity of allowing people more choice over the usage, sharing, and management of their data. She also emphasized the importance of standardizing privacy-enhancing technology, including the EU’s General Data Protection Regulation.

Adopting ZK-proof technology in the European Digital Identity Wallet is anticipated to provide consumers more control over their data while protecting their privacy. Before its ultimate implementation, the file will be subjected to inter-institutional discussions.

In the long run, the European Digital Identity Wallet is considered a critical step toward building a single digital market in Europe and fostering innovation. The platform is also expected to create trust between individuals and enterprises, opening the door for further improvements in the digital economy.

This new regulation is part of the EU’s more significant efforts to protect individuals’ digital sovereignty while fostering innovation and prosperity in the digital economy. The European Parliament is determined to continue its efforts to provide a safe and dynamic digital environment for all EU citizens. With the passage of this legislation, the EU will position itself as a leader in privacy-enhancing technologies and digital identity management.

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