On Thursday, the European Parliament conducted a plenary vote to decide whether to negotiate with member states on the revision of new European Digital Identity (eID) framework or not. According to an official announcement by the legislative body, the session resulted in 418 votes in favor of the initiative. While 103 legislators voted against it, 24 legislators resolved to remain neutral.
Occasioned by the outcome of the voting session, the European Parliament has now conveyed its plan to engage member states on the proposal. During the negotiations, the legislative body will be guided by the amendments adopted in the Industry, Research and Energy Committee (ITRE). Notably, ITRE is enveloped with the standard of zero-knowledge proofs in its eID amendments.
Meanwhile, this eID legislation was initiated at the European Parliament in mid-2021. The proposal manifested as part of the efforts towards creating “European Digital Identity.” Also, the legislative proposal recommends the creation of a digital wallets for businesses and individuals within the EU. Explaining the motive behind this initiative, the Parliament said the wallet aims to allow the storage of identity data by citizens and companies in member states for cross-border usage. Also, the scheme ensures that EU citizens enjoy full control of their identity data.
The European Parliament further that the scheme will foster the innovation of an EU-wide digital identity wallet. Through this wallet, citizens of member states will be able to identify and authenticate themselves online. By virtue of this, they will no longer rely on commercial providers who some times, jeopardize their security and privacy. With the wallet, citizens will enjoy absolute privacy, deciding what information they wish to share and with whom. Additionally, the innovation will also avail them with digital access to key public services across the European Union borders.
European Parliament devising legislations to regulate the digital space
In recent times, the European Parliament has been coming up with legislations to regulate the digital space. Just a few months ago, the legislative body signed off Markets in Crypto Assets Regulation (MiCA) bill. According to findings, the landmark legislation, if passed in the next plenary vote, seeks strictly regulate the activities of crypto firms within the region. Also, the bill necessitates issuers of crypto to always release its whitepaper containing detailed information about the project.
This week, the European Parliament also passed the data act legislation for smart contracts in the crypto sphere. According to findings, the legislation ensures that these smart contracts possesses information about a kill switch to stop any activity. Notably, 500 members of the parliaments voted in favor of the passage of the legislation, while 23 voted against it.