• The European Union has approved the use of zero-knowledge proofs as part of its digital identity framework (eID).
• This new eID would allow citizens to identify and authenticate themselves online without having to use commercial providers.
• The proposal will facilitate the emergence of new business models and opportunities in the digital economy.
EU Approves Zero-Knowledge Proofs for Digital IDs
The European Union Committee recently approved the use of zero-knowledge proofs as part of its updated digital identity framework (eID). This proposition was voted in by 55 votes to 8, with citizens being granted full control over their data and being able to decide what information to share.
Benefits Of Using Zero-Knowledge Proofs
Using zero-knowledge proofs ensures that users’ personal information remains confidential at all times, which is not always possible when using commercial providers for identification purposes. Furthermore, this move opens up opportunities for businesses to develop innovative products and services that rely on these eIDs.
Data Protection Regulations
The European Union is renowned for its ambivalent relationship with privacy – on one hand, it was the first place in the world to apply strict data protection regulations, while on the other, its central bank digital currency project lacks anonymity standards. The approval of zero-knowledge proofs could signify a shift towards more privacy protections within digital identities.
Challenges Ahead
While this proposed change is a positive step forward, there are still some challenges ahead in terms of implementation and regulation. For example, there is currently no clear indication as to how these new measures will be enforced or whether they will be effective in protecting user data from malicious actors. As such, more work needs to be done before these changes can be implemented successfully across Europe.
Conclusion
Overall, the approval of this proposition is an encouraging sign for those who wish for greater levels of privacy when using digital identities online. However, further discussions need to take place regarding enforcement and regulation before any meaningful progress can be made in terms of implementation.