Are you ready for Digital Wallets in the EU?

BankInfoSecurity.com reported that “The latest development comes on the heels of a European Commission proposal Wednesday for a single currency, called the Digital Euro, that will be accepted across the EU. The new currency, issued by the European Central Bank, would "work like digital wallet," the commission said, but members did not clarify if the currency would be integrated with the EU's proposed digital wallet app.”  The June 30, 2023 article entitled “EU Is Set to Finalize Digital Wallet, Proposes Digital Euro” (https://tinyurl.com/2k6sfa9w) included these comments about the European Digital Identity framework (https://data.consilium.europa.eu/doc/document/ST-14959-2022-INIT/en/pdf)”

The latest development comes on the heels of a European Commission proposal Wednesday for a single currency, called the Digital Euro, that will be accepted across the EU. The new currency, issued by the European Central Bank, would "work like digital wallet," the commission said, but members did not clarify if the currency would be integrated with the EU's proposed digital wallet app.

Both the initiatives have faced criticism from lawmakers, and privacy experts fear the proposals would put citizens' digital security at risk.

Lawmakers removed unique identifiers from the digital wallet, citing snooping risks, but using the wallet for identity confirmation could displace the anonymity online users now have on the internet, said Patrick Breyer, a German politician and member of the Pirate Party.

What do you think?