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Technologies - Key Concepts
EIDAS 2.0 & Qualified Ledgers: Bridging the Gap between Blockchain Technology and Legal Compliance - Schwalm Steffen - 2024
eIDAS 2.0 will revolutionize the digital ecosystem in Europe. One underestimated subject is the role of DLT aka Blockchain within the eIDAS 2.0 ecosystem. With Section 11 the regulation creates dedicated Qualified Trust Service on Electronic Ledger - although eIDAS is technology neutral, Art. 45 h following can be seen as regulation forEuropean Blockchain Services Infrastructure (EBSI). Looking at the mandatory implementing acts eIDAS 2.0 is on the way to solve main challenges on DLT: Proven security & trust. AsEBSI-VECTOR project,TRACE4EU Consortium,EBSI-NEshaping the future of DLT in Europe: What are use cases for QTSP for Ledger? What are possible requirements and most interesting: What´s the role of DLT in relationship to other Qualified Trust Services and EUDI Wallet?
Welcome to a new era in the world of Distributed Ledger Technology (DLT). Enter eIDAS 2.0, the European Union’s latest proposal that’s set to redefine the landscape of digital identity, legal compliance, and electronic ledgers.
eIDAS 2.0 introduces the concept of ‘qualified electronic ledgers’, a new category of a qualified trust service on electronic ledger that combines the best of both worlds: ledger technology and legal compliance. It’s like continuing the DLT evolution, only this time, it is also compliant with eIDAS 2.0 as a pan-European legal framework.
In this article, we’ll dive into electronic ledger legal innovations of eIDAS 2.0, explore the different types of DLT ledgers, and discuss how qualified electronic ledgers could potentially turn the ledger debate on its head. We’ll also look at use cases and benefits of qualified ledgers for regulated industries, and make some predictions about the future of DLT, the Spanish presidency of the Council of the EU, and the intersection between identity, industry 4.0, and CBDCs for institutional adoption.
The new [eIDAS 2.0] section 11 establishes a framework for trust services in regards to the creation and maintenance of electronic ledgers and qualified electronic ledgers. An electronic ledger combines time stamping of data and their sequencing with certainty about the data originator similar to e-signing with the additional benefit of enabling a more decentralized governance that is suitable for multi-party cooperation. This is important for various use-cases that can be built on electronic ledgers.
EIDAS 2.0
The European Union’s eIDAS 2.0 is a proposed regulation that aims to establish a framework for a European Digital Identity and Trust services. This regulation is designed to support the Union’s transformation towards a Digital Single Market, addressing the growing digitisation of cross-border public and private services which rely on the use of digital identity solutions. The proposal builds on the current eIDAS Regulation, focusing on the role of Member States as providers of legal identities and on the framework for the provision of electronic trust services in the European Union.
eIDAS 2.0 is intended to provide access to highly secure and trustworthy electronic identity solutions as well as trust services for cross-border use. It aims to ensure that public and private services can rely on trusted and secure digital identity solutions, and that natural and legal persons are empowered to use digital identity solutions and trust services
Projects - Key Concepts
SDP
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International Digital Government Conference hosted by State of RI
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