Last week, Evrotrust, a leading digital identity and trust services provider, organized the second event in its Evrotrust Live! series – Leaders of Digitalization. The company gathered leading figures from the public, financial, and banking sectors – many key stakeholders driving the digitalization of Bulgaria. “With these events, we want to start sharing best practices between all the experts, innovators, and leaders in our network and start positioning Bulgaria as the innovation hub we all want the country to be,” said Konstantin Bezuhanov, co-founder and CEO of Evrotrust.

The latest trends in digital identity

It’s the European Union (EU)’s objective to reach 100% online provision of key public services available for European citizens and businesses by 2030. Prof. Dr. George Dimitrov, Chairman of the board of directors at Evrotrust, used the event to introduce one of the latest EU initiatives in that direction – the EU Digital Identity Wallet (EUDI).

 

Its purpose is to provide a convenient and secure method for European citizens and businesses to authenticate their identity, using their digital ID for both public and private sector interactions. Users can store various digital documents within the wallet, ranging from driving licenses and education certifications all the way to signing into private platforms, such as social networks. With a single click, individuals should be able to confidently share information with verified entities, disclosing only what’s necessary while withholding additional personal data, which is currently not possible with physical ID cards. These wallets can hold many other functionalities, such as signing contracts, payments, flight boarding, SIM registrations, medical product prescriptions, and so on – working across all countries in the EU.

 

Actually, Evrotrust is one of the pioneers in Europe when it comes to the introduction of compliant electronic signature, e-identification, and digital identity wallet solutions. The market acceptance and future potential are also evident not only in the fact that Evrotrust raised nearly €5.8M in the past year but in the successful implementations by many leading banks, insurance providers, universities, and other organizations that aim and need to go paperless. As of today, over 1.5 million European citizens are currently using identification and e-signature products powered by Evrotrust. The company is actively expanding internationally, and as of today, its technology is available in 62 countries and 8 languages. All of its solutions meet the requirements of applicable regulations and standards, including AML/KYC and GDPR.

Sources: TheRecursive