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This picture should wake up everyone

eIDAS2 is a fundamental step forward. It is building on MyData principles and the legal right for EUcitizens to get their data into practical use. One of the key elements is the no-need-for-technical-integration depicted below.

Still there may be some countries that see the wallets only an identification tools - instead of builders of identity for every citizen, organisation and a wide range of things. Forming the trust infrastructure (factwallets and cross-sector and borders interconnecting net)  that according to MvKinsey will have a 3-6% GNP impact. Many think this is an understatement and see it as even bigger than Internet.

Therefore it is the duty of responsible governments and EU to push it forward with legislation and some funding - together with responsible enterprises. But without the financial sector adoption will be too slow. 

Time for wake-up calls - all over the place. Excellent presentation here: https://mobeyforum.org/wp-content/uploads/2022/02/Mobey-Forum-Keynote-Drummond-Reed.pdf

 

https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/digital-identification-a-key-to-inclusive-growth

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Bo Harald

Bo Harald

Chairman/Founding member, board member

Transmeri, Demos, Real Time Economy Program,MyData

Member since

04 Nov 2008

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Helsinki Region

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This post is from a series of posts in the group:

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.


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