It is undeniable that there is a growing momentum within the technical community. I am personally part of that excitement. We all recognize the potential and many are aligned with the future vision for societal transformation, a goal that eIDAS 1.0 unfortunately fell short of achieving.
The European Commission mistakenly put the current initiative into the hands of Member State governments, with the result of a patchy response. Technically they are all ‘obligated’ to have a wallet available by May 2026, but do they really all have their hearts in it? Only some countries.
Currently, there seems to be a lack of significant interaction with the relying parties. Only a few sporadic trials are taking place. It appears that many governments view this as a process mainly for 'elite' citizens and a select few companies. They fail to recognize the potential to enhance the lives of all individuals and propel society forward.
This is another failing of the EU’s vision, maybe due to lack of understanding of the opportunities.
It is important to share our enthusiasm with the general public, not just with enthusiasts. Although more individuals may adopt digital wallets in the coming years, they might not fully utilize their capabilities. If traditional methods can provide the same functionality that most people need, there will be no reason for excitement.
Apple and Android wallets will likely enhance their offerings to include essential functions, unless hindered by sanctions on US tech giants, potentially causing the EU to fall behind in the digital realm.
It is clear that it is up to the market to step up and do something to redress and fix this failing of the EU.
It will not without effort and just one company cannot do this alone. We all need to get together and combine our efforts. It’s a chance for our industry to really shape society.
It is crucial to initiate government and public education immediately, otherwise wallets will become obsolete technology within 5 years!
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