Quick take:
- Privado ID sees the collaboration as a critical step in its mission to provide state-of-the-art digital identity solutions.
- This collaboration comes as the European Union prepared to implement the European Digital Identity Regulation (eIDAS2).
- eIDAS2 mandates that each EU Member State must provide Digital Identity Wallets to its citizens and outlines technical specifications and certification.
Telefonica Tech, the strategic digital business unit of the Spanish telecommunications giant Telefonica Group has joined Privado ID as a system integrator according to press material shared with NFTgators.
Privado ID, formerly Polygon ID will leverage Telefonica Tech’s experience in decentralised technology, systems integration and its managed blockchain service TrustOS to develop innovative verifiable credential use cases.
The privacy and security-focused digital identity solutions provider sees the collaboration as a critical step in its mission to provide state-of-the-art digital identity solutions.
This announcement comes as the European Union prepared to implement the European Digital Identity Regulation (eIDAS2). eIDAS2 mandates that each EU Member State must provide Digital Identity Wallets to its citizens and outlines technical specifications and certification.
The collaboration aims to develop proofs-of-concept for various use cases in digital identity, with one of the first being age verification, which can be used to provide a reliable and secure privacy-complaint mechanism for granting access to adult content and gambling platforms.
Commenting on the collaboration, José Luis Núñez, Global Head of Blockchain and Web3 at Telefónica Tech highlighted his organisation’s experience and expertise in both blockchain-based solutions and systems integration as key element that enables it to drive the future of digital identity, adding that it ensures “privacy, security, and compliance [as it pushes] its adoption not only in the public sector, but also following the TrustOS philosophy in private companies of all sectors, sizes, and technology profiles.”
Once implemented, eIDAS2 will be available to EU citizens, residents, and businesses who want to identify themselves or provide confirmation of certain personal information.
eIDAS2 aims to create a secure and standardised framework for electronic identification making it imperative for businesses and individuals to adopt compliant identity solutions.
“Empowering large companies to reliably integrate innovative technologies, such as our advanced zero-knowledge proof-based digital identity platform, is key to widespread adoption of self-sovereign identity,” noted David Schwartz, Chief Executive Officer and Co-Founder at Privado ID. “Telefónica Tech’s size and depth of experience will go a long way to bring corporate clients into the Privado ID ecosystem.”
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