Telefónica Tech has become a system integrator for Polygon’s Privado ID, incorporating its tools into Telefónica’s managed blockchain service, TrustOS.
Telefónica, a Spanish telecommunications company, has become a system integrator of Polygon’s identity solution, Privado ID, in anticipation of the European Union’s implementation of trusted digital identity purses in all of its member states.
Privado ID’s tools will be integrated into TrustOS, the managed blockchain service provided by Telefónica Tech, the digital business unit of Telefónica, as per an announcement made on September 10.
The objective of the collaboration is to create proofs-of-concept for a variety of digital identity use cases, such as age verification, digital national identities, e-signature solutions, and content certification.
The companies stated that this will enable users to automatically issue their accreditations, such as training diplomas, academic qualifications, or attendance at seminars and courses, as verifiable credentials and transfer them into digital wallets.
As Europe prepares to implement the European Digital Identity Regulation, a framework proposed by the European Union to provide citizens, residents, and businesses with a digital and universally recognized digital identity for accessing public services and conducting transactions, the move is taking place.
By November 21, 2024, the European Commission is required to establish technical standards, specifications, and procedures. This encompasses the establishment of security, interoperability, and certification standards for wallets. State members will have 24 months to provide these purses to their citizens after the standards are issued.
“The EU Digital Identity Wallets will enable citizens to verify their identity across the EU in order to access online services, share digital documents, or simply to verify a specific personal attribute, such as their age, without disclosing their full identity or other personal details,” the Commission stated on the regulation’s official page. “Citizens will always maintain complete control over the data they share and the individuals with whom they share it.”
Zero-knowledge cryptography is a fundamental component of the digital identity solution that Privado ID products employ. Without disclosing the actual information, the technology enables one party to demonstrate to another that they possess specific knowledge.
For example, it could facilitate the verification of age or citizenship in the European digital ID wallet without disclosing excessive personal information.
“The regulation is designed to establish a more secure and uniform framework for electronic identification and trust services throughout Europe, necessitating that businesses and individuals implement innovative and compliant identity solutions,” the companies stated in a public statement.
Polygon has recently separated its digital ID service. Deutsche Bank and Consensys are among the financial institutions and multinational banks with which the company has conducted proofs-of-concept.
