The Importance of Digital Identity and Digital Wallets

Digital identity is crucial in the modern era to restore the convenience and control lost in the transition from physical to digital documentation. Instead of relying on third-party accounts for identity verification, digital wallets allow individuals to carry their own digital equivalents of paper or plastic documents. This evolution aims to provide better privacy, security, and ease of use. The European Identity System, known as EIDAS, plays a significant role, ensuring the legitimacy of government-issued digital credentials. This initiative is an open ecosystem, enabling both government and private sector credentials to be securely stored and easily shared for various use cases, such as proving employee ID or certifications. By embracing digital identity and wallets, it becomes possible to eliminate the dependency on usernames, passwords, and capture codes, as well as improving the privacy and security of personal data.