Outside Source
- Privado ID’s partnership with Telefonica Tech is aimed at accelerating adoption of privacy-focused and compliant digital identities for users in the European Union.
- The collaboration comes as the EU prepares for elDAS2, a key regulation on digital identity.
Telefonica Tech, the digital business arm of Spanish telecom giant Telefónica Group, is collaborating with Privado ID to advance privacy technology and adoption of digital identity across the European Union.
Privado ID, formerly Polygon ID, will leverage TrustOS, a managed blockchain service by Telefónica Tech to bolster its verifiable credential offering, the two firms said in a press release.
“We are delighted to integrate Privado ID technology with our TrustOS platform, advancing the adoption of digital identity solutions that ensure strict compliance with eIDAS2 requirements,” José Luis Núñez, global head of blockchain and web3 at Telefónica Tech, said.
Eyeing EU’s digital ID market
The strategic alliance comes as the European Union prepares for the European Digital Identity Regulation, aka elDAS2. The regulation provides for the implementation of guidelines mandating EU countries to provide a Digital ID Wallet to citizens.
eIDAS2 seeks a standardized framework that will enable EU citizens, residents and citizens to benefit from electronic identification. It also means the adoption of compliant identity solutions, a market Telefónica Tech and Privado ID are eyeing with this partnership.
“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,” David Schwartz, chief executive officer of Privado ID, said.
Targeted use cases include accreditations, digital national IDs, e-signature solutions, and privacy-preserving loyalty programs among others.
This article first appeared at CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison
