Today however, fragmented identity and access systems currently result in slow onboarding, limited adoption and sub-optimal user experiences. A common trust framework is still lacking, with authorization and user control that could be more clearly defined. As a result, identities, permissions and trust relationships remain scattered across platforms and countries, making them difficult to manage and verify.
EU Digital Identity Wallets (EUDIW) and European Business Wallets (EBW) have the potential to fundamentally improve this.
These wallets will enable users to onboard once and use their credentials across platforms. Users will be able to stay in control of their data, knowing that the parties with whom the data is shared are verified and trusted and for what purpose the data is shared. Moreover, they enable the same identity rules to apply across different platforms and countries, replacing manual contracts and technical barriers. This way using these wallets make the process less time consuming, safer and more streamlined.