DIGITAL WALLETS: THE FUTURE OF SECURE AND


EFFICIENT TRANSACTIONS As digital transformation is reshaping every aspect of our lives, Digital Wallets emerge as a groundbreaking innovation poised to revolutionise the way we manage our identities and conduct transactions.


Society increasingly relies on digital solutions for convenience and efficiency, and the European Union is leading the charge with plans to introduce Digital Wallets by 2026. Supported by robust regulatory frameworks such as eIDAS 2.0 and the Digital Services Act, these initiatives aim to create a more connected, efficient, and secure digital single market, extending benefits to both individuals and organisations.


Digital Wallets represent a significant advancement in digital identity and transaction management, poised to transform society by offering a secure, efficient, and privacy preserving means for managing various credentials and facilitating complex transactions. The European Union is at the forefront of this transformation, with plans to introduce Digital Wallets by 2026, supported by robust regulatory frameworks such as eIDAS 2.0 and the Digital Services Act. These initiatives aim to create a more connected, efficient, and secure digital single market, extending benefits to both individuals and organisations.


A Digital Wallet is far more than just a repository for payment information; it is a versatile tool designed to securely store, manage, and present a wide array of credentials. It can hold a whole lot more than traditional physical wallet contents, including various forms of identification, permits, and payment instructions. Information is stored on your phone, protected by your fingerprint or face biometrics and safely backed up. A key feature is the ability to control information disclosure. Users can show all the details or just what they need to. This includes presenting information via Zero-Knowledge-Proof (verifying information without revealing the underlying data) or a QR-Code, adding a layer of privacy and control to the citizen. Digital Wallets are designed to make complex transactions easy. An illustrative example is buying a kitten by post, which might involve identity verification, permit presentation, and conditional payment instructions such as instruct to pay only when delivered. This multi-lateral functionality streamlines processes that would otherwise be cumbersome.


DIGITAL WALLETS GO BEYOND PAYMENTS, OFFERING SECURE, VERSATILE STORAGE OF IDS, PERMITS, AND CREDENTIALS, WITH PRIVACY CONTROLS LIKE ZERO-KNOWLEDGE PROOFS TO SIMPLIFY COMPLEX, MULTI-STEP TRANSACTIONS.


14 | ADMISI - The Ghost In The Machine | Q4 Edition 2025


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