The European Parliament passed the EU digital wallet law

The European Parliament passed a bill on the use of secure zero-knowledge technology to protect the privacy of digital wallets of EU citizens by a majority vote.

Bill on Digital Identification System passed by 418 votes against 103 at the plenary session of the European Parliament. The deputies supported the introduction of a norm giving citizens access to digital public services, bank accounts and assets using personal digital wallets.

Legislation requires the use of uniform standards and secure zero-knowledge technology to protect user privacy during data verification and transmission.

“European digital identity through a personal wallet will be available to EU citizens, residents and businesses who wish to identify themselves or provide proof of certain personal information. It can be used for both online and offline services in the EU.

The European Commission believes that a single digital gateway will help Europeans save up to 855 hours a year and businesses more than 000 billion euros.

The proposal to create a blockchain-based information system for the digital identification of EU citizens was first announced in 2021. At the time, the European Commission did not require all EU member states to use blockchain technology to implement a pan-European digital identity system.