European Union Digital ID – 240

Oh man European Union discusses using zero Knowledge proofs for digital IDs you Want an episode of The Black Mirror you Don't need to go watch one okay we got It right here in real life it's about to Happen The the proposition here is to use zero Knowledge proofs And it was proposed by the EU committee And may become part of the updated Legislation The European Union is famous for its Ambient or ambivalent ambient ambivalent Relationship with privacy on the one Hand it was the first place in the world To apply strict data protection Regulations on the other hand it's Central Bank digital currency project Lacks the anonymity standards of private Cryptocurrencies nevertheless last week EU lawmakers made a vital step to Embrace privacy in the space of citizens Digital identities Let's read between the lines here Privacy from other individuals not Privacy from the government right And this is really key to understand Here on February 9th the industry Research and energy committee included The standard of zero knowledge proofs in Its amendments to the European digital Identity framework the last update was Voted in by 55 votes to eight in the

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Committee the draft will now proceed to The uh tree luge phase of negotiations While the latest draft is still not Available publicly the public release Specifies that EU citizens would be Granted full control of their data with The option to decide what information to Share and with whom the new Eid would Allow citizens to identify and Authenticate themselves online via European digital identity wallet well Having to resort to commercial providers As is the case today a practice that Raised trust security and privacy Concerns this all sounds great on the Face right like It I think If it wasn't a government-run identity System if it was fully trans not Transparent but fully decentralized then I would say this makes sense right we Get into a position where we have a Decentralized identity and we can Utilize that and Supply that to Who Am Whomever we wish including governments Right so I have complete autonomy and Control over my data I can provide that To the US government if I wish I can Provide that to the EU government I will If I wish but It ultimately is up to my Own personal preference on who I decide To provide that to this is kind of an Interesting in between where it sounds Like to me the the selling point is hey

We're going to be the government but We're going to come in we're going to Give you a digital ID and that digital ID is going to allow you to basically Take control of your data back you know In the form of something like Tiki which We've had on the channel before and then You will make sure we regulate and you Can basically decide on who you provide That data to but it's still ultimately Controlled by a centralized entity so That's where I kind of like throw up a Red flag today's sponsor is BT miners BT Miners has been a long time sponsor of The channel and a proven reliable source For Asic miners if you're looking to Purchase Asics Hardware from Bitcoin to Dogecoin miners they are available for Purchase on BT miners is a trusted Source by both and follow the affiliate Link in the description and tell them so Sent you to support the channel As Jonas Fredrickson the senior director Of the EU government Affairs at Circle Has noted on Twitter quote The Proposal Would facilitate the emergence of new Business models and opportunities in the Digital economy as companies develop Innovative products and services that Rely on zero knowledge proofs and e i The solutions Zero knowledge proofs have recently been

At the center of researchers attention As a possible means to ensure Regulatory Compliance and privacy in digital Currencies The Joint paper by San Francisco based Mina Foundation operator Of the Mena protocol German Hawk off off Hauser lamp bank and the Interdisciplinary Center for security Reliability and Trust of the University Of Luxembourg showed how exactly the Zero proofs could be connected to Europe's eia e i d a s electronic Identity system so once again you're Gonna have these zero proofs that are Then tied into a current centralized System the Eidas right however not everyone is Convinced by that solution writing for Coin Telegraph the last uh Nemethi the CEO of very labs and Co-founder of kyc Dao claimed that when Bruce alone or insufficient in personal Information sharing between the Participants of a transaction is Essential relying only on off-chain Solutions is advised So there you go what do we have we have A weird dystopian future upon us we have Two past take I always talk about this These two paths I just want to reiterate Them we have centralization and Decentralization those are the two paths We can go down we can use blockchain to Do either one right the problem is is as

We centralize any sort of these controls We can put ourselves as individuals In a compromised position right Specifically as it pertains to freedoms And specifically in this case the final Freedom which in the west at least would Be Financial Freedom right because at The end of the day the way the the Factors in which they influence you to Become a slave Right let's talk about the Matrix slave The nine to five slave right the the the The the the Consumer slave that that's what I'm Referring to by that I mean basically You're enslaved by an economic system That forces you to constantly uh work For someone else in particular uh pay Someone else to supply whatever uh Features you want a nation state in General and never actually get to a Position where you are satisfied as an Individual or financially free that's Kind of the slavery system I'm referring To here You you aren't going to be able to get Out of that unless You are able to actually decentralize That right and put it into the hands of Every individual at least in my humble Opinion these are my thoughts I'd like To listen to your thoughts and opinions On this in live chat and down in the Comment section below thanks for

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