The proposition to use zero-knowledge proofs was approved by the EU Committee and may become part of the updated legislation.
EU countries are known for their contradictory relationship with privacy-on the one hand, it is the first region in the world to implement stringent laws and regulations on the protection of personal information. On the other hand, its new central bank digital currency (CBDC) project lacks a secret name specification for personal digital currency.
But last week EU national due process took an important step in embracing privacy in the citizen data identity industry. On February 9th, the Federation of Industrial production, Scientific Research and Energy incorporated zero-knowledge certification into the revision of the European Regional data identity Architecture (EID). The latest upgrade is based on the federation's vote of 55 to 8-the bill is now entering a trilogy of negotiations.
Although the latest bill is still being announced, the press release requires that EU citizens be granted complete control over the database and have the right to determine what information to share and with whom:
A new Eid al-Fitr will allow citizens to identify and verify their identity online (based on European data identity folders) without having to ask for commercial service providers, as is the case today-this behavior has caused anxiety about trust, security and privacy.
As Jonas Fredrickson, Circle's most senior head of government affairs for EU countries, put it in Twitter:
As the company develops and designs breakthrough products and services that rely on zero knowledge proof and Eid al-Fitr solutions, this proposal will promote the birth of new business models and opportunities in the digital economy.
Zero-knowledge evidence has recently been the focus of concern for researchers as a possible way to ensure compliance and privacy in digital currency regulation.
This graduation thesis, written in collaboration with the MINA agreement network operator, the MINA Charitable Foundation based in San Francisco, USA, Hauck Aufh ä user Lampe Financial institutions in France and the Interdisciplinary Centre for Security, Stability and Private Equity at the University of Luxembourg, shows how zero evidence can be clearly transmitted to the European eIDAS electronic device identity system software.
However, not everyone believes in these solutions. In an article for Cointelegraph, Baraz Nemesi Cro, CEO of Veri Labs and founder of kycDAO, argues that when the evidence itself is insufficient and personal resource sharing among buying and selling participants is particularly important, he proposes to resort only to offline solutions.