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Another strong EU regulation could force big tech platforms to change their ways
- Europe is planning to adopt new Digital Identity Wallets for all citizens.
- Apple, Google, Meta, and others will be legally required to accept these wallets for sign-ups and sign-ins.
- European citizens will also be able to open bank accounts, make payments, and more using their Digital ID Wallets.
The Council of EU and the European Parliament have agreed on regulations for the new European Digital Identity Wallets. The EU will offer a Digital Identity Wallet to all citizens for accessing both public and private online services. The EU promises to maintain full security, and users will be able to choose whether or not they want to share their personal data.
As per the agreed-upon rules, all big online platforms will have to accept a Digital ID Wallet as an authentication method. An EU press release defines these as “Very Large Online Platforms” like Amazon, Facebook, Bookings.com, and more that come under the purview of the Digital Services Act. Other prime examples of platforms required to accept European Digital Identity Wallets for user authentication include TikTok, Instagram, X (formerly Twitter), and more.
Interestingly, the Apple App Store, Google Play Store, YouTube, and Google Maps also feature in the list of “Very Large Online Platforms” in the Digital Services Act. However, it’s unclear how the EU will force the likes of Google and Apple to accept anything but accounts on their own platforms for signing into their services.
“The wallets’ features and common specifications will make it attractive for all private service providers to accept them for their services, thus creating new business opportunities,” the EU notes in its press release.
Besides online platforms, EU citizens will also be able to use the wallet for opening bank accounts, making payments, and holding digital documents like driver’s licenses, medical prescriptions, and more.
The agreement reached by the European co-legislators now requires formal approval and endorsements from member states. Once formally adopted, the European Digital Identity framework will come into force on the twentieth day following its publication in the Official Journal. Member states will then have 24 months to provide their citizens with Digital Identity Wallets.