{"id":15624,"date":"2024-09-06T16:46:05","date_gmt":"2024-09-06T16:46:05","guid":{"rendered":"http:\/\/TheNextWeb=1410029"},"modified":"2024-09-06T16:46:05","modified_gmt":"2024-09-06T16:46:05","slug":"europe-has-opened-a-door-to-a-universal-wallet-the-webs-inventor-wants-to-enter","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=15624","title":{"rendered":"Europe has opened a door to a universal wallet. The web\u2019s inventor wants to enter"},"content":{"rendered":"\n

Imagine you\u2019re moving to the destination of your dreams. A tropical paradise by the sea? An enchanting mountain village? A sun-kissed chateau surrounded by vineyards? Take your pick. All you need to do is pack a smartphone.<\/span><\/p>\n

You catch a cab to the station, scan a turnstile, and board a train to the airport. On arrival, you stroll through a biometric corridor<\/a> and straight on to your plane. After your flight touches down, you collect a rental car. You flash a digital driver\u2019s licence to unlock the door. <\/span><\/p>\n

You drive to your new home. On the way, you stop off at a store and bag up groceries, household essentials, a crate of beer if you\u2019re so inclined. If you\u2019re in the US, perhaps you also grab a gun. All the purchases are invisibly approved. You walk out of the store<\/span> and back into the car.<\/span><\/p>\n

You park outside your beautiful new house. Your face unlocks the front door and you collapse on the couch. With a quick flick through your phone, you open a bank account, schedule bills, and register for services. <\/span><\/p>\n

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Suddenly, panic strikes: you\u2019ve forgotten your wallet. Your cards, passport, health records, legal documents, and education certificates are all missing. But then you remember: everything is safely stored on your phone.<\/span><\/p>\n

Is it a digital dream or a high-tech nightmare? Either way, it\u2019s edging into reality. <\/span><\/p>\n

The digital identity<\/h2>\n

Digital identities are already widespread in financial services, border control, and age verification. Google and Apple wallets are now common tools for payments and data<\/a> storage<\/span>. <\/span><\/p>\n

As the capabilities expand, paper documents and plastic cards will be thrown in the dustbin of history. But the path to adoption is precarious.<\/span><\/p>\n

Digital wallets still tightly restrain interoperability between apps and services. Use cases are restricted and service availability is limited. The tech has also provoked alarm about mass surveillance and data theft.<\/span><\/p>\n

To fulfil their potential, digital wallets need guaranteed security, access, and compatibility. In Europe, those guarantees are on their way. <\/span><\/p>\n

By 2026, the EU will embed them in a new system: the European digital identity (eID).<\/span><\/p>\n

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Margrethe Vestager, the EU\u2019s former digital chief, said the eID will slash bureaucracy. Credit: European Commission<\/figcaption>