The European Parliament has recently voted in favour of revising the European Digital Identity (eID) framework and creating the European Digital Identity Wallet (EUDI Wallet). This initiative aims to provide EU citizens with a secure and user-friendly method to access key public services across the EU and authenticate themselves online, without relying on big commercial providers like Apple, Google, Amazon, or Facebook.
The BESIDE project focuses on the application of Blockchain technology in digital financial services and the digital transformation of the vocational education and training sector. The EUDI Wallet could potentially play a significant role in furthering the objectives of the BESIDE project by facilitating secure and seamless access to financial services and vocational training for EU citizens.
By ensuring that the EUDI Wallet is secure, usable, and privacy-centric, the European Union could create a framework that enables financial professionals and institutions to provide better services to their clients. The successful implementation of the EUDI Wallet could also support the BESIDE project’s goals of empowering financial professionals with the necessary knowledge and skills to thrive in the digital age and comply with EU policies.
However, some challenges need to be addressed for the EUDI Wallet to be effective. The wallet must offer a high degree of usability and security, as well as a wide range of applications and interoperability across Europe. Furthermore, privacy concerns should be addressed to ensure that the wallet is in line with the General Data Protection Regulation (GDPR) and other legal requirements.
The BESIDE project team closely follows these developments, as they could greatly impact the future of digital financial services and vocational education in Europe. We encourage financial professionals and all stakeholders to stay informed and participate in the ongoing discussions and developments regarding the European Digital Identity Wallet.
For more information on the BESIDE project and how it relates to the digital transformation of financial services, visit our website at https://besideproject.eu/.