Telefónica Tech, the digital business unit of the Spanish telecom giant Telefónica, has recently joined forces with Polygon’s Privado ID to enhance digital identity solutions across Europe.
#Telefónica Tech has partnered with Polygon’s Privado ID as a system integrator, integrating its digital identity tools into Telefónica's #TrustOS #blockchain service. The collaboration aims to develop digital identity use cases such as age verification and e-signature… pic.twitter.com/hn0NqrAKjM
— TOBTC (@_TOBTC) September 10, 2024
Telefónica Tech and Privado ID Partnership
On September 10, Telefónica Tech announced this collaboration with Privado ID, a leading digital identity solution provider. As a system integrator, Telefónica Tech will integrate Privado ID’s tools into its managed blockchain service, TrustOS. This partnership is set to develop proofs-of-concept for various digital identity use cases, such as age verification, digital national identities, e-signature solutions, and content certification.
José Luis Núñez, Global Head of Blockchain and Web3 at Telefónica Tech, emphasized the importance of this collaboration, stating, “Our experience in blockchain-based solutions and systems integration will drive the future of digital identity, ensuring privacy, security, and compliance.”
European Digital Identity Regulation
The European Union is on the brink of implementing the European Digital Identity Regulation (eIDAS2), which mandates that each EU member state provide Digital Identity Wallets to its citizens. This regulation aims to create a secure and standardized framework for electronic identification and trust services across Europe. By November 21, the European Commission must establish technical standards, specifications, and procedures for these wallets.
David Schwartz, CEO and Co-Founder of Privado ID, commented, “Empowering large companies to integrate innovative technologies like our zero-knowledge proof-based digital identity platform is key to widespread adoption of self-sovereign identity.”
One of the uniqueness of Privado ID’s digital identity solution is its use of zero-knowledge cryptography, which allows one party to prove they know certain information without revealing the actual information itself. For example, it can verify a person’s age or citizenship without disclosing more personal data than necessary.
The integration of Privado ID’s tools with Telefónica Tech’s TrustOS will enhance the security and reliability of digital identity solutions. TrustOS is a managed blockchain service that provides a secure environment for developing and deploying blockchain applications.
Use Cases and Benefits
The partnership between Telefónica Tech and Privado ID will explore various use cases for digital identity solutions. One of the first use cases is age verification, which can provide a reliable and secure mechanism for granting access to adult content and gambling platforms. Other potential use cases include digital national identities, e-signature solutions, and content certification.
Telefónica Tech, a leading company in digital transformation, will use #Polygon to develop #Web3 integration solutions for businesses. The partnership will enhance the traceability, tokenization, and certification on @Telefonica's TrustOS platform.https://t.co/H6VuZ8mlQh
— Polygon | Aggregated (@0xPolygon) March 3, 2022
For users, these digital identity solutions offer greater control over their personal data. They can prove specific attributes, such as age, without revealing their full identity. For businesses, these solutions provide a secure and compliant way to verify user identities and credentials.
José Luis Núñez highlighted the significance of this partnership, saying, “Our collaboration with Privado ID will ensure privacy, security, and compliance, pushing the adoption of digital identity solutions not only in the public sector but also in private companies of all sizes and technology profiles.”David Schwartz added, “The regulation aims to create a more secure and standardized framework for electronic identification and trust services across Europe, making it imperative for businesses and individuals to adopt compliant and innovative identity solutions.“
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