New in digital identity: EU introduces zero-knowledge proof standard

The Committee for Industry, Research and Energy of the European Union has amended the European Digital Identification System (eID), namely a new zero-knowledge proof standard, which will work on the basis of a special application.

55 members of the committee voted for the innovations, only eight opposed. The eID project must now go through three rounds of discussions. As part of the digital identity project, EU citizens should have full control over the data and decide for themselves what information and to whom to provide.

“The new eID project will allow people to be identified and authenticated on the Internet using a special application. Thus, they will not need to resort to the services of commercial providers of such solutions.. The project should increase the trust, security and confidentiality of data,” the representatives of the committee say.

Zero-knowledge proof is an interactive cryptographic protocol that allows one of the interacting parties to verify the validity of a statement, without having any other information from the second party.. This protocol is gaining popularity to ensure the privacy of blockchain transactions and the creation of more private digital currencies.. In the European Union, such evidence can be used for the digital euro project.

Earlier it was reported that the European Parliament plans to oblige banks that store crypto assets on their balance sheet to create a 100% reserve of these assets.