As Europe progresses toward implementing digital ID, Telefónica Tech is merging with Polygon’s Privado ID to expand its digital identification solutions.
In line with the European Union’s efforts to encourage member states to adopt trusted digital identification wallets, the telecom behemoth Telefónica of Spain has become a system integrator of Polygon’s identity solution, Privado ID.
Telefónica Tech, the company’s digital business section, said on September 10 that Privado ID’s capabilities will be integrated into TrustOS, its managed blockchain solution.
The partnership intends to create proofs-of-concept for several use cases related to digital identities, such as content certification, e-signature solutions, age verification, and digital national IDs.
“Users will be able to load their accreditations into digital wallets and automatically issue them as verifiable credentials, such as training diplomas, academic qualifications, or attendance at seminars and courses,” the firms said.
Action is being taken in anticipation of the European Union’s implementation of the European Digital Identity Regulation, which aims to give citizens, residents, and enterprises a globally recognized digital identity that can be used to transact and access public services.
By November 21, 2024, the European Commission must set technical guidelines, requirements, and protocols. This covers establishing certification, interoperability, and security requirements for wallets. State members will have 24 months after standards are released to provide these wallets to their residents.
According to the Commission’s explanation on the regulation’s official page, “citizens will be able to prove, across the EU, their identity when necessary to access services online, to share digital documents, or simply to prove a specific personal attribute, like age, without revealing their full identity or other personal details.” “People will always be in complete control of the data they share and with whom they share it.”
Zero-knowledge cryptography is a fundamental component of the digital identity solution used by Privado ID tools. Thanks to technology, one person can demonstrate to another that they are knowledgeable about a subject without disclosing the subject matter. For example, verifying citizenship or age in the European digital ID wallet could be possible without disclosing more personal information than is required.
“Businesses and individuals must adopt compliant and innovative identity solutions as the regulation seeks to establish a more secure and standardized framework for electronic identification and trust services throughout Europe,” the companies stated.
Recently, Polygon separated its digital identity service. The company claims proofs-of-concept for its technology have been conducted with central banks and other financial institutions, such as Consensys and Deutsche Bank.