Parliament votes to make progress on EU-wide digital portfolio plans

 

Parliament votes :

to make progress on EU-wide digital portfolio plans

The EU-wide digital portfolio proposal passed a general vote

Move forward with the initiative aimed at enabling and protecting the digital identity of EU citizens

and providing them with digital access to key public services across the European Union's borders.

A negotiation mandate for talks with EU member states on the amendment of the new European Identity Directive was approved by the European Parliament (eID).

An EU announcement confirmed that

the introduction of the EU-wide digital portfolio framework

Inter-institutional consultations will begin following the general vote, which was approved 418 to 103 with 24 abstentions.

Proposed eID blueprint rolled out in June 2021

• This will allow citizens to identify

• and authenticate themselves online

• (via the European digital identity portfolio)

• without having to turn to commercial service providers

As is the case today - a practice that has led to increased confidence, security and privacy concerns, "the EU press release states.

The framework was appointed to the Committee on Industry, Research and Energy (ITRE), which worked on the proposal

focusing on the areas of cybersecurity

1. governance
2. data protection and digitization of
3. public services.

As part of its development of the blueprint

The Committee proposed amendments

passed in a vote on 9 February, to expand the European digital identity portfolio

To enable citizens not only to prove their identity and to share documents, but also to verify the identities of companies, other citizens and documents.

In doing so, consumers would have "complete control over their data and be able to choose what information they wish to share and with whom," according to the EU.

The EU hopes that eID will be a step towards achieving the goals of the "digital compass"

which includes all major public services available online

All citizens have access to their digital medical records

and 80% of citizens use a digital ID by 2030.

After the decision in the plenary is approved, the Council will really start discussing the ultimate shape of the EU-wide digital portfolio law.

On March 10 :

The European Parliament decided to advance

• EU-wide digital portfolio plans.

• The action is a part of a larger initiative.

• by the EU to promote digitization and modernization in financial services.

Digital wallet plans aim to provide EU citizens with a safe

and convenient way to access a range of financial services, including banking, payment transactions and identity verification.

The digital wallet will also provide a way

for individuals to access government services and manage personal data.

The proposed digital

wallet can be accessed on all electronic devices

 including smartphones, tablets and computers. It will be based on open standards and interoperable with other digital wallet services, ensuring maximum flexibility for users.

The EU-wide digital portfolio

will be an important step towards creating a more integrated and digital Europe.

Digital wallet can help reduce fraud :

• increase security and reduce costs associated with traditional payment methods.

• It will also provide consumers with greater control

• over their personal data and simplify access to financial services.

Next steps will be in implementing the digital wallet

is to establish technical standards

and ensure the application of privacy and security measures.

1. The European Parliament called on
2. the European Commission to ensure that
3. these measures are robust and effective.

In conclusion :

• The European Parliament's decision to strengthen

• EU-wide digital portfolio plans is a milestone in

• EU efforts to promote digitization and modernisation of financial services.

The digital portfolio has the potential to

change the way EU citizens access financial services and interact with government services, ultimately creating a more integrated and digital Europe.