Most of use here have seen how nothing much happens – even if it should – then nothing much happens, then nothing much happens, then nothing much.. and then all of a sudden the burst of adoption.
For my part in e-banking starting in the early 80s, e-mail, mobile phones, SMS-messaging, mobile banking, e-id-services, e-invoicing, e-salary, mobile proximity payments (short stick..) etc..
Now we can finally expect a takeoff for organisation wallets/agents – especially in EU.
How come?
- It has been understood that the much advertised citizen’s free of charge identity-building EUDI-wallets need a critical mass of verified credentials to be taken into use. The identification credential and the driving license are not needed
often enough. - To get credentials flowing (out and in) an organisation needs the sending/holding/receiving agent/wallet – as the EWC-consortium has proclaimed from its outset. We have seen how easy it is to install.
- Mrs Ursula von der Leyen herself has stated that the business wallet is the cornerstone for the data driven economy. We can be sure that she means that the public sector should make business adoption faster by being out there with their
own credential supply and demand without delay. Agent/wallet finetuning can be done later. - The market offers 25 alternatives according to a recent listing by FIDES –
no need to wait for implementation guidelines from Brussels. The heavy lifting is in changing the work processes and should be started without delay. - It has been understood that the need for trust is growing near to exponentially.
- The massive economic impact for businesses and nations is finally getting more attention. The 3-6% GDP growth estimate by McKinsey needs updateds. A recent German study (will get the precise source soon) stated that using the business agents/wallets
in the supplier networks (only) would cost 250m and give cost savings of 85,3 billion euros in Germany (only). - The need to deploy wallets to empower and steer organisational AI-agents
is obvious. - At last weeks widely attended Findynet lead workshop all 9 teams were able to get their credentials to wallets during the first day. Nordea stated that the account statement credential producing the much needed IBAN account number-credential was easy.
So banks – as traditional trust builders – are moving in. For sure both needing and supplying a wide range of credentials and being mandated into it anyway by ready EU legislation. Hugh savings in sight, megaclass better risk management and
so much more customer value in services
