European Digital Identity: What it's all about and What the Benefits are
Gathering all the identity information linked to a person in a digital credential is to simplify accesses and validations, as well as to respond to a clear need of the context: to provide greater data security.
With this dual objective, Europe has been putting on interdisciplinarily work for years in order to achieve what is now known as the European Digital Identity, a unified personal data management mechanism that guarantees the proper functioning of the internal market and provides a level of security for electronic identification.Specifically, these are new digital identity wallets that allow citizens to access online services without having to use private identification methods.
74% of users are concerned about the possibility of digital identity theft, especially given the increased digitization triggered by the Covid-19 pandemic and the increasing amount of data and personal information they share since then.
Benefits of European Digital Identity
Although cyberattacks are multiple and frequent, it is also true that many of the IT security complications are due to human error. Therefore, the new measures that are being adopted in this regard are focused on protecting against external attacks, and at the same time providing optimization and standardization in processes, to create protocols in the management of information, which prevent foreseeable failures.
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Each movement is a gateway to possible frauds that devolve into setbacks for individuals and the agencies and companies involved. Therefore, through the new electronic identification system issued by each Member State, it is possible to ensure a validation that does not put people's information at risk. In addition, the system makes it possible to create qualified electronic signatures and seals,centralize all documentation that until recently was physically transported, and guarantee a maximum level of security for personal data.
Other benefits of centralized and secure digital identity:
- Standardizes a digital identity for public and private services.
- It is available free of charge charge to all EU citizens, residents and/or businesses.
- Allows users to have greater control over their data.
- Allows users to choose which aspects of their identity to share with third parties.
- Creates a history of interactions to keep and refer to when needed.
It is important to note that this type of technology makes it possible for the issuers of the portfolios not to collect information on their usebut only to access what is necessary to validate at any given time. When European a digital identity wallet is affected by an anomaly orsecurity breach, each Member StateState must suspend it and revoke its validity..
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Security in the Private Spectrum
According to a Eurostat report, 22.2% of companies in the European Union with ten or more employees have ever had ICT-related security incidents, with complications related to the destruction or alteration of data and the leakage of confidential information. In this sense, today it is essential to focus efforts on improvements that put safety as a priority at all levels of interaction.
Considering that attacks affect one organization every eleven seconds worldwide and that the estimated annual cost of cybercrime reached 5.5 billion Euros in 2021 (according to a survey by Cybersecurity Ventures), the new initiative is a light and a possible efficient solution from every point of view. The fact that online accesses are centralised in a single digital identity to make it simpler and, above all, secure is now a reality that benefits the entire community.
Find out what other steps can be taken in response to identity theft or impersonation.
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